Key Points
- Insider buying: Torex Gold Resources insider Daniel James Thomas Rollins purchased 825 shares at C$60.63 each, a transaction worth about C$50,020. After the buy, he owned 13,076 shares, a 6.73% increase in his stake.
- Stock and valuation update: TXG shares were up 4.7% and opened at C$61.29, with the company carrying a market cap of C$5.72 billion. The stock trades at a P/E ratio of 9.82 and has ranged from C$38.80 to C$85.00 over the past 52 weeks.
- Dividend and analyst sentiment: Torex raised its quarterly dividend to C$0.16 per share, or C$0.64 annualized, for a 1.0% yield. Analysts remain broadly bullish, with five Buy ratings and a consensus price target of C$85.75.
Torex Gold Resources Inc. (TSE:TXG - Get Free Report) insider Daniel James Thomas Rollins bought 825 shares of the business's stock in a transaction on Monday, May 25th. The stock was bought at an average cost of C$60.63 per share, with a total value of C$50,019.75. Following the completion of the purchase, the insider directly owned 13,076 shares in the company, valued at approximately C$792,797.88. The trade was a 6.73% increase in their ownership of the stock.
Torex Gold Resources Stock Up 4.7%
TSE TXG opened at C$61.29 on Tuesday. The business's fifty day simple moving average is C$62.49 and its 200-day simple moving average is C$65.87. The company has a quick ratio of 2.12, a current ratio of 1.37 and a debt-to-equity ratio of 4.01. The firm has a market cap of C$5.72 billion, a PE ratio of 9.82, a P/E/G ratio of 0.02 and a beta of 1.85. Torex Gold Resources Inc. has a 52 week low of C$38.80 and a 52 week high of C$85.00.
Torex Gold Resources Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 4th. Shareholders of record on Thursday, June 4th will be paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.0%. This is a boost from Torex Gold Resources's previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Thursday, May 21st. Torex Gold Resources's payout ratio is presently 3.48%.
Analyst Ratings Changes
Several analysts have recently weighed in on TXG shares. National Bank Financial increased their price target on shares of Torex Gold Resources from C$98.00 to C$101.00 and gave the company an "outperform" rating in a research note on Thursday, May 14th. Scotiabank upped their price objective on Torex Gold Resources from C$72.00 to C$95.00 in a report on Monday, January 26th. Finally, Canadian Imperial Bank of Commerce increased their price objective on Torex Gold Resources from C$90.00 to C$100.00 in a research report on Wednesday, February 4th. Five equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of C$85.75.
Read Our Latest Stock Report on Torex Gold Resources
Torex Gold Resources Company Profile
(
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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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