Torex Gold Resources (TSE:TXG) Price Target Cut to C$85.00 by Analysts at National Bank Financial

Torex Gold Resources (TSE:TXG) had its price target reduced by National Bank Financial from C$89.00 to C$85.00 in a research note issued on Monday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. National Bank Financial’s target price indicates a potential upside of 38.55% from the company’s previous close.

A number of other equities research analysts also recently weighed in on the stock. Canadian Imperial Bank of Commerce dropped their price target on shares of Torex Gold Resources from C$100.00 to C$90.00 in a research report on Friday. Scotiabank lowered their price objective on Torex Gold Resources from C$105.00 to C$95.00 in a research note on Friday. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of C$85.00.

Torex Gold Resources Stock Performance

TSE:TXG traded down C$1.40 during mid-day trading on Monday, hitting C$61.35. 399,467 shares of the stock were exchanged, compared to its average volume of 639,825. The stock has a market capitalization of C$5.73 billion, a price-to-earnings ratio of 9.83, a price-to-earnings-growth ratio of 0.02 and a beta of 1.96. The firm’s 50-day simple moving average is C$56.91 and its 200 day simple moving average is C$62.81. The company has a debt-to-equity ratio of 4.01, a quick ratio of 2.12 and a current ratio of 1.37. Torex Gold Resources has a fifty-two week low of C$40.01 and a fifty-two week high of C$85.00.

Torex Gold Resources (TSE:TXG) last issued its quarterly earnings data on Thursday, August 6th. The company reported C$1.28 EPS for the quarter. The firm had revenue of C$578.12 million for the quarter. Torex Gold Resources had a return on equity of 26.78% and a net margin of 34.17%. As a group, equities analysts anticipate that Torex Gold Resources will post 3.6254502 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Daniel James Thomas Rollins bought 850 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The stock was bought at an average cost of C$61.51 per share, for a total transaction of C$52,283.50. Following the transaction, the insider owned 13,926 shares of the company’s stock, valued at C$856,588.26. This represents a 6.50% increase in their ownership of the stock. Over the last 90 days, insiders have bought 2,250 shares of company stock valued at $137,030. 0.35% of the stock is owned by company insiders.

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.