Torex Gold Resources (TSE:TXG) Stock Bumped Up to “Moderate Buy” by ATB Cormark Capital Markets

ATB Cormark Capital Markets upgraded shares of Torex Gold Resources (TSE:TXG) from a hold rating to a moderate buy rating in a research note issued to investors on Monday,Zacks reports.

Several other research analysts have also issued reports on TXG. National Bank Financial increased their target price on shares of Torex Gold Resources from C$85.00 to C$89.00 and gave the stock an “outperform” rating in a research note on Monday, September 21st. Canadian Imperial Bank of Commerce cut their price objective on shares of Torex Gold Resources from C$100.00 to C$90.00 in a research report on Friday, August 7th. Finally, Scotiabank reduced their target price on Torex Gold Resources from C$105.00 to C$95.00 in a research note on Friday, August 7th. Three analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of C$90.17.

Torex Gold Resources Stock Performance

TSE:TXG opened at C$67.64 on Monday. The stock’s 50-day moving average is C$64.57 and its 200-day moving average is C$61.97. 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 market cap of C$6.26 billion, a P/E ratio of 10.39, a price-to-earnings-growth ratio of 0.02 and a beta of 1.96. The company has a current ratio of 1.38, a quick ratio of 2.12 and a debt-to-equity ratio of 3.86.

Torex Gold Resources (TSE:TXG) last posted its quarterly earnings data on Thursday, August 6th. The company reported C$1.28 EPS for the quarter. Torex Gold Resources had a return on equity of 25.62% and a net margin of 33.02%.The company had revenue of C$578.12 million for the quarter. Equities research analysts anticipate that Torex Gold Resources will post 3.6254502 earnings per share for the current year.

Torex Gold Resources Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 4th. Stockholders of record on Friday, September 4th were issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Friday, August 21st. Torex Gold Resources’s dividend payout ratio (DPR) is currently 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.