Insider Buying: Torex Gold Resources (TSE:TXG) Director Acquires 185 Shares

Key Points

• Director Jacques Perron bought 185 shares of Torex Gold Resources on July 8 at an average price of C$54.50, bringing his total holding to 975 shares and increasing his ownership by 23.42%.
• The purchase comes after another recent insider buy by Perron on June 17, when he acquired 390 shares at C$63.19 each.
• Torex Gold Resources shares were down 2.6% to C$52.54, while analysts remain constructive with a consensus Buy rating and a target price of C$85.75; the company also recently raised its quarterly dividend to C$0.16 per share.

Torex Gold Resources Inc. (TSE:TXG - Get Free Report) Director Jacques Perron bought 185 shares of the stock in a transaction on Wednesday, July 8th. The shares were acquired at an average cost of C$54.50 per share, for a total transaction of C$10,082.50. Following the purchase, the director owned 975 shares in the company, valued at approximately C$53,137.50. This represents a 23.42% increase in their ownership of the stock.

Jacques Perron also recently made the following trade(s):

• On Wednesday, June 17th, Jacques Perron purchased 390 shares of Torex Gold Resources stock. The stock was bought at an average cost of C$63.19 per share, with a total value of C$24,644.10.

Torex Gold Resources Stock Down 2.6%

Shares of TXG stock traded down C$1.42 during trading on Monday, hitting C$52.54. 215,994 shares of the company were exchanged, compared to its average volume of 649,642. The company has a debt-to-equity ratio of 4.01, a quick ratio of 2.12 and a current ratio of 1.37. The firm has a market capitalization of C$4.90 billion, a price-to-earnings ratio of 8.42, a P/E/G ratio of 0.02 and a beta of 1.95. The business's 50-day simple moving average is C$59.59 and its 200 day simple moving average is C$64.69. Torex Gold Resources Inc. has a twelve month low of C$38.80 and a twelve month high of C$85.00.

Torex Gold Resources (TSE:TXG - Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The company reported C$2.89 earnings per share for the quarter. Torex Gold Resources had a net margin of 34.17% and a return on equity of 26.78%. The firm had revenue of C$749.79 million for the quarter. As a group, analysts forecast that Torex Gold Resources Inc. will post 3.6254502 EPS for the current fiscal year.

Torex Gold Resources Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Thursday, June 4th were issued a dividend of $0.16 per share. The ex-dividend date was Thursday, May 21st. This represents a $0.64 annualized dividend and a dividend yield of 1.2%. This is an increase from Torex Gold Resources's previous quarterly dividend of $0.15. Torex Gold Resources's dividend payout ratio is presently 3.48%.

Wall Street Analyst Weigh In

Separately, National Bank Financial increased their price objective on Torex Gold Resources from C$98.00 to C$101.00 and gave the stock an "outperform" rating in a report on Thursday, May 14th. Four analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of C$85.75.

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.

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