Torex Gold Resources (TXG) Price Target Raised to C$17.00

Torex Gold Resources (TSE:TXG) had its price target increased by research analysts at Royal Bank of Canada from C$16.00 to C$17.00 in a research note issued to investors on Friday. The brokerage currently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective indicates a potential upside of 23.10% from the company’s previous close.

TXG has been the topic of a number of other reports. Eight Capital upped their price objective on Torex Gold Resources from C$15.50 to C$16.00 in a report on Thursday, October 4th. Desjardins reaffirmed a “buy” rating and issued a C$20.00 price objective on shares of Torex Gold Resources in a report on Monday. Finally, Cormark upped their price objective on Torex Gold Resources from C$17.50 to C$19.50 in a report on Friday.

TSE TXG traded up C$0.31 on Friday, reaching C$13.81. The stock had a trading volume of 302,370 shares, compared to its average volume of 285,834. The company has a quick ratio of 0.88, a current ratio of 1.32 and a debt-to-equity ratio of 45.79. Torex Gold Resources has a 1-year low of C$7.29 and a 1-year high of C$14.58.

Torex Gold Resources (TSE:TXG) last issued its quarterly earnings data on Thursday, November 8th. The company reported C$0.12 EPS for the quarter, missing analysts’ consensus estimates of C$0.15 by C($0.03). The business had revenue of C$165.19 million during the quarter. Equities research analysts expect that Torex Gold Resources will post 0.72 EPS for the current year.

In other Torex Gold Resources news, Director Terry Macgibbon sold 7,200 shares of the company’s stock in a transaction on Monday, October 15th. The stock was sold at an average price of C$13.27, for a total value of C$95,544.00. Over the last ninety days, insiders sold 32,200 shares of company stock worth $421,644.

Torex Gold Resources Company Profile

Torex Gold Resources Inc engages in the exploration, development, and operation of mineral properties. The company explores for gold, silver, and copper deposits. It principally holds a 100% interest in the Morelos Gold property comprising the El Limón Guajes mine and the Media Luna project covering a total area of approximately 29,000 hectares located in the Guerrero Gold Belt in southern Mexico.

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