TD Securities Raises Price Target for Torex Gold Resources

Torex Gold Resources, listed on the Toronto Stock Exchange as TSE:TXG, has seen a notable increase in its price target set by TD Securities. Recently, in a research report released to clients, TD Securities raised the price target from C$34.00 to C$38.00, indicating their positive outlook on the stock's performance. This new target implies a potential upside of approximately 22.30% from the current trading price of the company's shares.

In addition to TD Securities, numerous other financial institutions have provided updates on Torex Gold Resources. CIBC, for instance, adjusted its target price to C$26.00 from a previous C$23.00 in a report dated July 10th. Additionally, BMO Capital Markets raised their price target to C$30.00 from C$29.00, coupled with an "outperform" rating in their analysis on September 10th. Moreover, on October 9th, National Bank Financial upgraded its rating on Torex Gold from a "hold" to a "strong-buy." Canaccord Genuity also increased their price target to C$32.00 from C$30.50 back on July 23rd. In a further upgrade, National Bankshares raised its target price from C$31.25 to C$37.75 and shifted their rating for the stock from "sector perform" to "outperform" on October 10th. As of now, five financial analysts have assigned buy ratings on the stock, while one has declared it a strong buy. According to MarketBeat.com, the average rating for the stock is currently classified as "Buy," with a consensus target price of C$31.86.

Torex Gold Resources Experiences Stock Movement

On Friday, Torex Gold Resources witnessed a 4.5% increase in its stock price during midday trading, reaching C$31.07. The trading volume for the day amounted to 158,039 shares, compared to the average volume of 263,192 shares. The stock's 50-day moving average sits at C$25.75, while the 200-day moving average is at C$22.52. Financially, the company shows a current ratio of 1.09, a quick ratio of 2.12, and a high debt-to-equity ratio of 7.32. Torex Gold Resources boasts a market capitalization of C$2.67 billion, a price-to-earnings (PE) ratio of 18.68, and a price-to-earnings-growth (PEG) ratio of 0.02. Over the past year, the stock has fluctuated between a low of C$12.40 and a high of C$31.16.

For context, Torex Gold Resources most recently reported its earnings results on August 7th. The company achieved earnings of C$0.82 per share for the quarter, surpassing analysts' expectations, which were pegged at C$0.70 by C$0.12, with revenue reaching C$369.83 million. Analysts currently project an average earnings per share (EPS) of 3.63 for the current fiscal year.

Overview of Torex Gold Resources

Torex Gold Resources Inc. operates as an intermediate gold producer mainly in Mexico. The company holds a 100% stake in the Morelos Gold property, which encompasses the Morelos Complex. This includes the El Limón Guajes Mine Complex, the Media Luna Project, in addition to a processing plant and associated infrastructure spread over 29,000 hectares situated southwest of Mexico City.

Investing Considerations

MarketBeat highlights top analysts' recommendations on various stocks, indicating some may find alternatives to Torex Gold Resources. While the company holds a generally favorable "Buy" rating, analysts are also currently identifying other stocks with potentially more attractive growth prospects. Investors may want to stay informed and evaluate these opportunities for a more diversified portfolio.

Torex, Gold, TD_Securities