Scotiabank Issues Pessimistic Estimate for TSE:TXG Earnings

Torex Gold Resources Inc. (TSE:TXG) – Investment analysts at Scotiabank decreased their FY2027 earnings per share estimates for shares of Torex Gold Resources in a research note issued to investors on Wednesday, August 19th. Scotiabank analyst E. Winmill now anticipates that the company will post earnings of $7.48 per share for the year, down from their previous estimate of $8.82. The consensus estimate for Torex Gold Resources’ current full-year earnings is $3.63 per share.

Other research analysts have also issued research reports about the company. National Bank Financial decreased their price objective on Torex Gold Resources from C$89.00 to C$85.00 and set an “outperform” rating on the stock in a report on Monday, August 10th. ATB Cormark Capital Markets cut shares of Torex Gold Resources from a “moderate buy” rating to a “hold” rating in a research note on Monday, August 10th. Finally, Canadian Imperial Bank of Commerce dropped their target price on shares of Torex Gold Resources from C$100.00 to C$90.00 in a report on Friday, August 7th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of C$89.50.

Torex Gold Resources Stock Up 2.1%

Shares of TXG opened at C$72.23 on Monday. 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 has a one year low of C$42.05 and a one year high of C$85.00. The stock has a market capitalization of C$6.69 billion, a price-to-earnings ratio of 11.10, a PEG ratio of 0.02 and a beta of 1.96. The stock has a 50 day moving average price of C$58.61 and a 200 day moving average price of C$62.03.

Torex Gold Resources (TSE:TXG) last released its earnings results on Thursday, August 6th. The company reported C$1.28 earnings per share for the quarter. The business had revenue of C$578.12 million for the quarter. Torex Gold Resources had a return on equity of 25.62% and a net margin of 33.02%.

Insider Buying and Selling at Torex Gold Resources

In related news, insider Daniel James Thomas Rollins purchased 850 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The stock was acquired at an average cost of C$61.51 per share, for a total transaction of C$52,283.50. Following the completion of the transaction, the insider directly owned 13,926 shares of the company’s stock, valued at approximately C$856,588.26. This trade represents a 6.50% increase in their ownership of the stock. In the last 90 days, insiders purchased 1,425 shares of company stock worth $87,010. Insiders own 0.35% of the company’s stock.

Torex Gold Resources Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 4th. Stockholders of record on Friday, September 4th will be 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 is Friday, August 21st. Torex Gold Resources’s payout ratio is currently 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.