National Bank Financial Has Lowered Expectations for Torex Gold Resources (TSE:TXG) Stock Price

Key Points

• National Bank Financial lowered Torex Gold Resources’ price target to C$85 from C$89 while maintaining an “outperform” rating, implying 38.55% upside from the prior close.
• Other analysts also reduced their targets, but the stock retains an overall “Buy” rating with an average price target of C$85.
• Torex shares fell 2.2% to C$61.35 in Monday trading. The company recently reported C$1.28 in quarterly earnings per share on C$578.12 million in revenue, while insiders have purchased shares during the past three months.

Torex Gold Resources (TSE:TXG - Get Free Report) had its price objective dropped by research analysts at National Bank Financial from C$89.00 to C$85.00 in a report released on Monday,BayStreet.CA reports. The brokerage presently has an "outperform" rating on the stock. National Bank Financial's target price would indicate a potential upside of 38.55% from the stock's previous close.

TXG has been the subject of a number of other research reports. Canadian Imperial Bank of Commerce decreased their price objective on shares of Torex Gold Resources from C$100.00 to C$90.00 in a research report on Friday. Scotiabank cut their target price on shares of Torex Gold Resources from C$105.00 to C$95.00 in a research note on Friday. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Torex Gold Resources has an average rating of "Buy" and an average price target of C$85.00.

Torex Gold Resources Stock Down 2.2%

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

Torex Gold Resources (TSE:TXG - Get Free Report) 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 during the quarter. Torex Gold Resources had a net margin of 34.17% and a return on equity of 26.78%. As a group, research analysts anticipate that Torex Gold Resources will post 3.6254502 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Daniel James Thomas Rollins acquired 850 shares of the firm's stock in a transaction on Tuesday, June 2nd. The shares were purchased at an average cost of C$61.51 per share, for a total transaction of C$52,283.50. Following the completion of the acquisition, the insider directly owned 13,926 shares in the company, valued at approximately C$856,588.26. This trade represents a 6.50% increase in their ownership of the stock. Insiders have acquired 2,250 shares of company stock worth $137,030 over the last three months. Insiders own 0.35% of the company's stock.

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.

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