Torex Gold Resources (TSE:TXG) Posts Quarterly Earnings Results

Torex Gold Resources (TSE:TXG) released its quarterly earnings results on Thursday. The company reported C$1.28 earnings per share for the quarter, FiscalAI reports. Torex Gold Resources had a net margin of 34.17% and a return on equity of 26.78%. The business had revenue of C$578.12 million during the quarter.

Torex Gold Resources Stock Down 1.4%

TXG stock traded down C$0.83 during midday trading on Thursday, hitting C$59.81. 598,559 shares of the company’s stock were exchanged, compared to its average volume of 638,198. The firm has a 50 day moving average price of C$56.94 and a 200-day moving average price of C$62.98. Torex Gold Resources has a 12-month low of C$40.01 and a 12-month high of C$85.00. The stock has a market capitalization of C$5.58 billion, a price-to-earnings ratio of 9.58, a price-to-earnings-growth 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.

Torex Gold Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Shareholders 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 yield of 1.1%. This is a boost from Torex Gold Resources’s previous quarterly dividend of $0.15. Torex Gold Resources’s dividend payout ratio (DPR) is presently 3.48%.

Insider Activity at Torex Gold Resources

In other Torex Gold Resources news, insider Daniel James Thomas Rollins bought 850 shares of Torex Gold Resources 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 purchase, the insider owned 13,926 shares in the company, valued at C$856,588.26. This represents a 6.50% increase in their position. In the last three months, insiders purchased 2,250 shares of company stock worth $137,030. Corporate insiders own 0.35% of the company’s stock.

Analysts Set New Price Targets

Separately, National Bank Financial boosted their price objective on shares of 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. Three analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of C$88.71.

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.