Torex Gold Resources (TSE:TXG) Announces Quarterly Earnings Results

Torex Gold Resources (TSE:TXG) posted its earnings results on Thursday. The company reported C$1.28 earnings per share (EPS) for the quarter, FiscalAI reports. Torex Gold Resources had a return on equity of 26.78% and a net margin of 34.17%.The firm had revenue of C$578.12 million for the quarter.

Torex Gold Resources Stock Up 4.9%

Shares of TSE TXG traded up C$2.94 during midday trading on Friday, hitting C$62.75. 1,137,955 shares of the company’s stock were exchanged, compared to its average volume of 641,508. The company has a debt-to-equity ratio of 4.01, a current ratio of 1.37 and a quick ratio of 2.12. Torex Gold Resources has a twelve month low of C$40.01 and a twelve month high of C$85.00. The company has a market cap of C$5.86 billion, a PE ratio of 10.06, a P/E/G ratio of 0.02 and a beta of 1.96. The firm’s fifty day simple moving average is C$56.91 and its 200-day simple moving average is C$62.89.

Torex Gold Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Thursday, June 4th were given a dividend of $0.16 per share. The ex-dividend date of this dividend was Thursday, May 21st. This represents a $0.64 annualized dividend and a dividend yield of 1.0%. This is an increase from Torex Gold Resources’s previous quarterly dividend of $0.15. Torex Gold Resources’s payout ratio is currently 3.48%.

Insider Transactions at Torex Gold Resources

In related news, insider Daniel James Thomas Rollins bought 850 shares of the company’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were purchased at an average cost of C$61.51 per share, with a total value of C$52,283.50. Following the transaction, the insider directly owned 13,926 shares of the company’s stock, valued at approximately C$856,588.26. This represents a 6.50% increase in their position. Insiders purchased 2,250 shares of company stock valued at $137,030 over the last three months. Corporate insiders own 0.35% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Scotiabank cut their price target on shares of Torex Gold Resources from C$105.00 to C$95.00 in a research note on Friday. National Bank Financial raised their price objective on shares of Torex Gold Resources from C$98.00 to C$101.00 and gave the company an “outperform” rating in a research note on Thursday, May 14th. Finally, Canadian Imperial Bank of Commerce dropped their price objective on shares of Torex Gold Resources from C$100.00 to C$90.00 in a report on Friday. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of C$87.29.

Torex Gold Resources Company Profile

Torex Gold Resources Inc is a Canadian mining company engaged in the exploration, development, and production of gold, copper, and silver from its flagship Morelos Complex in Guerrero, which is currently Mexico’s largest single gold producer.