Torex Gold Resources (TSE:TXG) Price Target Lowered to C$90.00 at Canadian Imperial Bank of Commerce

Torex Gold Resources (TSE:TXG) had its target price cut by research analysts at Canadian Imperial Bank of Commerce from C$100.00 to C$90.00 in a note issued to investors on Friday,BayStreet.CA reports. Canadian Imperial Bank of Commerce’s target price points to a potential upside of 44.60% from the stock’s previous close.

Separately, National Bank Financial lifted their price objective on Torex Gold Resources from C$98.00 to C$101.00 and gave the company an “outperform” rating in a research report on Thursday, May 14th. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of C$87.29.

Torex Gold Resources Stock Performance

Shares of TSE:TXG traded up C$2.43 during midday trading on Friday, hitting C$62.24. The company had a trading volume of 655,423 shares, compared to its average volume of 638,170. Torex Gold Resources has a 12-month low of C$40.01 and a 12-month high of C$85.00. The company has a fifty day moving average of C$56.92 and a two-hundred day moving average of C$62.89. The company has a market cap of C$5.81 billion, a price-to-earnings ratio of 9.97, a PEG ratio of 0.02 and a beta of 1.96. The company has a debt-to-equity ratio of 4.01, a current ratio of 1.37 and a quick ratio of 2.12.

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. Torex Gold Resources had a return on equity of 26.78% and a net margin of 34.17%.The company had revenue of C$578.12 million for the quarter. On average, equities research analysts expect that Torex Gold Resources will post 3.6254502 EPS for the current fiscal year.

Insiders Place Their Bets

In other Torex Gold Resources news, insider Daniel James Thomas Rollins purchased 850 shares of the business’s stock in a transaction on Tuesday, June 2nd. The stock was acquired at an average price of C$61.51 per share, for a total transaction of C$52,283.50. Following the purchase, the insider owned 13,926 shares of the company’s stock, valued at approximately C$856,588.26. This represents a 6.50% increase in their position. Over the last ninety days, insiders have acquired 2,250 shares of company stock valued at $137,030. Corporate insiders own 0.35% of the company’s stock.

Torex Gold Resources Company Profile

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.