Torex Gold Resources (TSE:TXG) Price Target Raised to C$89.00

Torex Gold Resources (TSE:TXG) had its price objective hoisted by National Bank Financial from C$85.00 to C$89.00 in a research report report published on Monday morning,BayStreet reports. They currently have an outperform rating on the stock.

TXG has been the topic of several other reports. Canadian Imperial Bank of Commerce decreased their target price on shares of Torex Gold Resources from C$100.00 to C$90.00 in a research report on Friday, August 7th. ATB Cormark Capital Markets downgraded Torex Gold Resources from a “moderate buy” rating to a “hold” rating in a report on Monday, August 10th. Finally, Scotiabank decreased their price target on Torex Gold Resources from C$105.00 to C$95.00 in a research note on Friday, August 7th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Torex Gold Resources presently has an average rating of “Moderate Buy” and a consensus target price of C$90.17.

Torex Gold Resources Price Performance

TXG opened at C$69.81 on Monday. The firm has a market cap of C$6.46 billion, a PE ratio of 10.72, a P/E/G ratio of 0.02 and a beta of 1.96. The company has a debt-to-equity ratio of 3.86, a current ratio of 1.38 and a quick ratio of 2.12. Torex Gold Resources has a 1 year low of C$51.40 and a 1 year high of C$85.00. The stock has a 50-day moving average price of C$63.58 and a 200-day moving average price of C$62.07.

Torex Gold Resources (TSE:TXG) last announced its quarterly earnings results on Thursday, August 6th. The company reported C$1.28 EPS for the quarter. The firm had revenue of C$578.12 million during the quarter. Torex Gold Resources had a net margin of 33.02% and a return on equity of 25.62%. Sell-side analysts predict that Torex Gold Resources will post 3.6254502 earnings per share for the current fiscal year.

Torex Gold Resources Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 4th. Investors of record on Friday, September 4th were given a dividend of $0.16 per share. The ex-dividend date of this dividend was Friday, August 21st. This represents a $0.64 dividend on an annualized basis and a yield of 0.9%. Torex Gold Resources’s dividend payout ratio is presently 5.12%.

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.