Clarus Securities Weighs in on Torex Gold Resources Inc’s FY2018 Earnings (TXG)

Torex Gold Resources Inc (TSE:TXG) – Research analysts at Clarus Securities lowered their FY2018 earnings estimates for shares of Torex Gold Resources in a report released on Wednesday. Clarus Securities analyst J. Spratt now anticipates that the company will post earnings per share of $0.52 for the year, down from their previous forecast of $0.68. Clarus Securities has a “Speculative Buy” rating on the stock.

Torex Gold Resources (TSE:TXG) last issued its earnings results on Thursday, November 9th. The company reported C($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.20 by C($0.22). Torex Gold Resources had a net margin of 5.89% and a return on equity of 2.92%.

A number of other brokerages have also issued reports on TXG. TD Securities raised shares of Torex Gold Resources from a “hold” rating to a “buy” rating and set a C$24.00 target price for the company in a research note on Wednesday, October 25th. Scotiabank decreased their target price on shares of Torex Gold Resources from C$34.00 to C$15.00 and set a “sector perform” rating for the company in a research note on Wednesday, November 8th. Eight Capital reissued a “buy” rating on shares of Torex Gold Resources in a research note on Thursday, November 16th. Desjardins reissued a “hold” rating on shares of Torex Gold Resources in a research note on Monday, December 11th. Finally, Royal Bank of Canada decreased their target price on shares of Torex Gold Resources from C$28.00 to C$22.00 and set an “outperform” rating for the company in a research note on Monday, December 4th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of C$18.67.

Shares of Torex Gold Resources (TXG) traded down C$0.45 during trading hours on Friday, hitting C$12.53. 414,592 shares of the company’s stock were exchanged, compared to its average volume of 649,574. The firm has a market cap of $1,000.00, a price-to-earnings ratio of 16.71 and a beta of -1.80. Torex Gold Resources has a 52 week low of C$10.12 and a 52 week high of C$33.85.

WARNING: This piece was originally reported by American Banking News and is owned by of American Banking News. If you are reading this piece on another domain, it was illegally copied and reposted in violation of U.S. and international copyright & trademark law. The correct version of this piece can be viewed at https://www.americanbankingnews.com/2018/01/19/clarus-securities-weighs-in-on-torex-gold-resources-incs-fy2018-earnings-txg.html.

About Torex Gold Resources

Torex Gold Resources Inc is a Canada-based resource company. The Company operates through the segment of mineral exploration and mine development and operation in Mexico. The Company is engaged in the exploration, development and operation of the Morelos Gold Property. The Morelos Gold Property is located in the Guerrero Gold Belt in southern Mexico, approximately 180 kilometers to the southwest of Mexico City and 50 kilometers southwest of Iguala.

Earnings History and Estimates for Torex Gold Resources (TSE:TXG)

Receive News & Ratings for Torex Gold Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Torex Gold Resources and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply