Torex Gold Resources (TSE:TXG) Price Target Cut to C$26.00 by Analysts at BMO Capital Markets | MarketBeat

Torex Gold Resources (TSE:TXG) Price Target Cut to C$26.00 by Analysts at BMO Capital Markets | MarketBeat

Torex Gold Resources (TSE:TXG) had its target price reduced by BMO Capital Markets from C$27.00 to C$26.00 in a research report issued to clients and investors on Friday, Analyst Price Targets reports. The firm presently has a “na” rating on the stock. BMO Capital Markets’ target price would suggest a potential upside of 85.05% from the company’s current price.

A number of other brokerages have also issued reports on TXG. Eight Capital cut their price target on shares of Torex Gold Resources from C$34.50 to C$33.75 and set a “buy” rating on the stock in a research note on Tuesday, April 20th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a C$23.00 target price on shares of Torex Gold Resources in a research note on Wednesday, June 2nd. CIBC reiterated a “neutral” rating and issued a C$23.00 target price on shares of Torex Gold Resources in a report on Friday. Finally, Scotiabank decreased their price target on Torex Gold Resources from C$24.00 to C$22.00 in a report on Thursday, June 17th. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Torex Gold Resources has a consensus rating of “Buy” and a consensus target price of C$28.32.

Shares of TXG stock traded down C$0.11 during trading hours on Friday, hitting C$14.05. The company had a trading volume of 118,482 shares, compared to its average volume of 324,661. The company has a quick ratio of 1.30, a current ratio of 2.01 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of C$1.20 billion and a PE ratio of 4.65. The business’s fifty day moving average is C$16.26. Torex Gold Resources has a fifty-two week low of C$13.75 and a fifty-two week high of C$25.52.

Torex Gold Resources (TSE:TXG) last released its quarterly earnings results on Thursday, May 13th. The company reported C$0.84 EPS for the quarter, topping analysts’ consensus estimates of C$0.55 by C$0.29. The firm had revenue of C$292.79 million for the quarter. Equities research analysts expect that Torex Gold Resources will post 1.55 earnings per share for the current year.

In related news, Director Harold Bernard Loyer sold 2,054 shares of the business’s stock in a transaction dated Wednesday, April 14th. The stock was sold at an average price of C$17.22, for a total value of C$35,375.63. Following the transaction, the director now owns 20,776 shares in the company, valued at approximately C$357,820.89. Also, Senior Officer Mary Delores Batoff sold 2,452 shares of the business’s stock in a transaction dated Wednesday, April 14th. The shares were sold at an average price of C$17.22, for a total value of C$42,230.31. Following the completion of the transaction, the insider now owns 11,858 shares in the company, valued at approximately C$204,227.96.

About Torex Gold Resources

Torex Gold Resources Inc operates as an intermediate gold producer in Mexico. The company also explores for silver, copper, and carbon deposits. It holds a 100% interest in the Morelos Gold property comprising of seven mineral concessions covering a total area of approximately 29,000 hectares located in the Guerrero Gold Belt in southern Mexico.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected]

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