Torex Gold Resources (TSE:TXG) Upgraded at 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.

A number of other equities research analysts also recently weighed in on TXG. National Bank Financial raised their target price on Torex Gold Resources from C$85.00 to C$89.00 and gave the company an “outperform” rating in a report on Monday, September 21st. Canadian Imperial Bank of Commerce lowered their price target on Torex Gold Resources from C$100.00 to C$90.00 in a report on Friday, August 7th. Finally, Scotiabank dropped their price objective on Torex Gold Resources from C$105.00 to C$95.00 in a research report on Friday, August 7th. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of C$90.17.

Torex Gold Resources Price Performance

TSE:TXG opened at C$68.83 on Monday. Torex Gold Resources has a 52 week low of C$51.40 and a 52 week high of C$85.00. The firm has a market cap of C$6.37 billion, a price-to-earnings ratio of 10.57, a P/E/G ratio of 0.02 and a beta of 1.96. The firm’s 50-day simple moving average is C$65.12 and its 200 day simple moving average is C$61.93. The company has a debt-to-equity ratio of 3.86, a quick ratio of 2.12 and a current ratio of 1.38.

Torex Gold Resources (TSE:TXG) last posted its quarterly earnings data on Thursday, August 6th. The company reported C$1.28 earnings per share (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%. As a group, sell-side analysts predict that Torex Gold Resources will post 3.6254502 earnings per share for the current year.

Torex Gold Resources Announces Dividend

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

About Torex Gold Resources

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.