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Torex Gold Resources

TSX:TXG
Snowflake Description

Moderate growth potential with mediocre balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
TXG
TSX
CA$2B
Market Cap
  1. Home
  2. CA
  3. Materials
Company description

Torex Gold Resources Inc. engages in the exploration, development, and operation of mineral properties in Mexico. The last earnings update was 29 days ago. More info.


Add to Portfolio Compare Print
  • Torex Gold Resources has significant price volatility in the past 3 months.
TXG Share Price and Events
7 Day Returns
3.6%
TSX:TXG
-2.1%
CA Metals and Mining
0.3%
CA Market
1 Year Returns
86.3%
TSX:TXG
-5.9%
CA Metals and Mining
0.7%
CA Market
TXG Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Torex Gold Resources (TXG) 3.6% 20.4% 46.6% 86.3% 8.2% 65.8%
CA Metals and Mining -2.1% 1.4% 13.1% -5.9% 8.9% -22%
CA Market 0.3% 2% 13.2% 0.7% 16.6% 5.6%
1 Year Return vs Industry and Market
  • TXG outperformed the Metals and Mining industry which returned -5.9% over the past year.
  • TXG outperformed the Market in Canada which returned 0.7% over the past year.
Price Volatility
TXG
Industry
5yr Volatility vs Market

Value

 Is Torex Gold Resources undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Torex Gold Resources to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Torex Gold Resources.

TSX:TXG Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 5 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 9.6%
Perpetual Growth Rate 10-Year CA Government Bond Rate 1.9%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for TSX:TXG
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year CA Govt Bond Rate 1.9%
Equity Risk Premium S&P Global 6%
Metals and Mining Unlevered Beta Simply Wall St/ S&P Global 1.18
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.181 (1 + (1- 26.5%) (29.45%))
1.292
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.29
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.95% + (1.292 * 5.96%)
9.65%

Discounted Cash Flow Calculation for TSX:TXG using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Torex Gold Resources is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

TSX:TXG DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 9.65%)
2019 99.85 Analyst x5 91.06
2020 111.23 Analyst x4 92.51
2021 64.65 Analyst x2 49.04
2022 86.07 Analyst x1 59.54
2023 80.72 Est @ -6.22% 50.93
2024 77.68 Est @ -3.77% 44.70
2025 76.08 Est @ -2.05% 39.93
2026 75.43 Est @ -0.85% 36.10
2027 75.42 Est @ -0.01% 32.92
2028 75.86 Est @ 0.57% 30.20
Present value of next 10 years cash flows $526.93
TSX:TXG DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $75.86 × (1 + 1.95%) ÷ (9.65% – 1.95%)
$1,004.11
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $1,004.11 ÷ (1 + 9.65%)10
$399.71
TSX:TXG Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $526.93 + $399.71
$926.64
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $926.64 / 85.10
$10.89
TSX:TXG Discount to Share Price
Calculation Result
Exchange Rate USD/CAD
(Reporting currency to currency of TSX:TXG)
1.333
Value per Share
(CAD)
= Value per Share in USD x Exchange Rate (USD/CAD)
= $10.89 x 1.333
CA$14.52
Value per share (CAD) From above. CA$14.52
Current discount Discount to share price of CA$17.74
= -1 x (CA$17.74 - CA$14.52) / CA$14.52
-22.2%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Torex Gold Resources is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Torex Gold Resources's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Torex Gold Resources's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
TSX:TXG PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in USD $0.27
TSX:TXG Share Price ** TSX (2019-03-20) in CAD CA$17.74
TSX:TXG Share Price converted to USD reporting currency Exchange rate (CAD/ USD) 0.75 $13.31
Canada Metals and Mining Industry PE Ratio Median Figure of 115 Publicly-Listed Metals and Mining Companies 12.49x
Canada Market PE Ratio Median Figure of 542 Publicly-Listed Companies 14.78x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Torex Gold Resources.

TSX:TXG PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= TSX:TXG Share Price ÷ EPS (both in USD)

= 13.31 ÷ 0.27

48.39x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Torex Gold Resources is overvalued based on earnings compared to the CA Metals and Mining industry average.
  • Torex Gold Resources is overvalued based on earnings compared to the Canada market.
Price based on expected Growth
Does Torex Gold Resources's expected growth come at a high price?
Raw Data
TSX:TXG PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 48.39x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts
20.3%per year
Canada Metals and Mining Industry PEG Ratio Median Figure of 35 Publicly-Listed Metals and Mining Companies 0.7x
Canada Market PEG Ratio Median Figure of 253 Publicly-Listed Companies 1.2x

*Line of best fit is calculated by linear regression .

TSX:TXG PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 48.39x ÷ 20.3%

2.39x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Torex Gold Resources is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Torex Gold Resources's assets?
Raw Data
TSX:TXG PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in USD $8.95
TSX:TXG Share Price * TSX (2019-03-20) in CAD CA$17.74
TSX:TXG Share Price converted to USD reporting currency Exchange rate (CAD/ USD) 0.75 $13.31
Canada Metals and Mining Industry PB Ratio Median Figure of 1,080 Publicly-Listed Metals and Mining Companies 1.44x
Canada Market PB Ratio Median Figure of 2,349 Publicly-Listed Companies 1.58x
TSX:TXG PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= TSX:TXG Share Price ÷ Book Value per Share (both in USD)

= 13.31 ÷ 8.95

1.49x

* Primary Listing of Torex Gold Resources.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Torex Gold Resources is overvalued based on assets compared to the CA Metals and Mining industry average.
X
Value checks
We assess Torex Gold Resources's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Metals and Mining industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Metals and Mining industry average (and greater than 0)? (1 check)
  5. Torex Gold Resources has a total score of 0/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Torex Gold Resources expected to perform in the next 1 to 3 years based on estimates from 5 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
20.3%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Torex Gold Resources expected to grow at an attractive rate?
  • Torex Gold Resources's earnings growth is expected to exceed the low risk savings rate of 1.9%.
Growth vs Market Checks
  • Torex Gold Resources's earnings growth is expected to exceed the Canada market average.
  • Torex Gold Resources's revenue growth is positive but not above the Canada market average.
Annual Growth Rates Comparison
Raw Data
TSX:TXG Future Growth Rates Data Sources
Data Point Source Value (per year)
TSX:TXG Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts 20.3%
TSX:TXG Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 5 Analysts 2.5%
Canada Metals and Mining Industry Earnings Growth Rate Market Cap Weighted Average 33.3%
Canada Metals and Mining Industry Revenue Growth Rate Market Cap Weighted Average 7%
Canada Market Earnings Growth Rate Market Cap Weighted Average 17.8%
Canada Market Revenue Growth Rate Market Cap Weighted Average 6.9%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
TSX:TXG Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
TSX:TXG Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-12-31 573 282 86 1
2021-12-31 540 214 70 2
2020-12-31 548 232 47 5
2019-12-31 556 219 64 5
TSX:TXG Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2018-12-31 443 227 23
2018-09-30 353 161 -3
2018-06-30 327 128 -29
2018-03-31 312 106 -11
2017-12-31 315 74 -13
2017-09-30 376 132 23
2017-06-30 384 137 48
2017-03-31 400 196 50
2016-12-31 313 167 3
2016-09-30 210 101 -7
2016-06-30 102 42 -36
2016-03-31 -42 -52

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Torex Gold Resources's earnings are expected to grow significantly at over 20% yearly.
  • Torex Gold Resources's revenue is expected to grow by 2.5% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
TSX:TXG Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below

All data from Torex Gold Resources Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSX:TXG Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-12-31 1.01 1.01 1.01 1.00
2021-12-31 0.82 0.82 0.82 1.00
2020-12-31 0.56 0.56 0.56 1.00
2019-12-31 0.75 0.77 0.72 2.00
TSX:TXG Past Financials Data
Date (Data in USD Millions) EPS *
2018-12-31 0.27
2018-09-30 -0.04
2018-06-30 -0.35
2018-03-31 -0.14
2017-12-31 -0.16
2017-09-30 0.29
2017-06-30 0.61
2017-03-31 0.63
2016-12-31 0.04
2016-09-30 -0.09
2016-06-30 -0.46
2016-03-31 -0.66

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Torex Gold Resources is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Torex Gold Resources's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Canada market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Canada market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Torex Gold Resources has a total score of 3/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Torex Gold Resources performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Torex Gold Resources's growth in the last year to its industry (Metals and Mining).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Torex Gold Resources has delivered over 20% year on year earnings growth in the past 5 years.
  • Torex Gold Resources has become profitable in the last year making the earnings growth rate difficult to compare to the 5-year average.
  • Torex Gold Resources has become profitable in the last year making it difficult to compare the CA Metals and Mining industry average.
Earnings and Revenue History
Torex Gold Resources's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Torex Gold Resources Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSX:TXG Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 442.90 23.20 27.30
2018-09-30 353.00 -3.20 24.60
2018-06-30 327.10 -28.70 25.90
2018-03-31 311.90 -11.30 26.40
2017-12-31 314.90 -12.60 25.60
2017-09-30 376.40 23.20 26.70
2017-06-30 384.00 48.40 24.40
2017-03-31 399.50 49.90 21.30
2016-12-31 312.50 3.20 19.10
2016-09-30 210.20 -7.40 18.79
2016-06-30 102.10 -35.82 18.43
2016-03-31 -51.63 19.12
2015-12-31 -24.57 21.92
2015-09-30 -40.56 26.43
2015-06-30 -36.80 26.83
2015-03-31 -33.78 25.60
2014-12-31 -26.30 26.67
2014-09-30 -40.80 32.40
2014-06-30 -50.93 34.67
2014-03-31 -53.77 50.45
2013-12-31 -66.97 58.88
2012-12-31 -65.56 65.80
2012-10-31 -61.17 60.85
2012-07-31 -46.84 52.55
2012-04-30 -39.55 45.42

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Torex Gold Resources has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Torex Gold Resources used its assets less efficiently than the CA Metals and Mining industry average last year based on Return on Assets.
  • Torex Gold Resources has become profitable over the past 3 years. This is considered to be a significant improvement in its use of capital (Return on Capital Employed).
X
Past performance checks
We assess Torex Gold Resources's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Metals and Mining industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Torex Gold Resources has a total score of 2/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Torex Gold Resources's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Torex Gold Resources's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Torex Gold Resources is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Torex Gold Resources's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Torex Gold Resources's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.7x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Torex Gold Resources Company Filings, last reported 2 months ago.

TSX:TXG Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 759.60 333.50 122.20
2018-09-30 756.50 346.40 121.60
2018-06-30 730.90 360.80 91.40
2018-03-31 741.50 373.90 110.50
2017-12-31 679.30 385.60 44.90
2017-09-30 702.80 386.00 66.50
2017-06-30 703.00 392.90 61.50
2017-03-31 696.50 407.10 93.90
2016-12-31 683.90 406.70 104.00
2016-09-30 671.74 405.90 93.66
2016-06-30 642.78 401.89 74.08
2016-03-31 632.89 376.69 30.48
2015-12-31 670.14 370.46 46.06
2015-09-30 669.66 305.09 74.36
2015-06-30 673.75 227.80 83.25
2015-03-31 682.71 150.90 102.34
2014-12-31 692.79 44.00 99.37
2014-09-30 708.64 0.00 194.86
2014-06-30 655.29 0.00 220.20
2014-03-31 654.67 0.00 283.57
2013-12-31 531.97 0.00 202.47
2012-12-31 622.65 0.00 402.42
2012-10-31 632.85 0.00 423.02
2012-07-31 281.13 0.00 69.13
2012-04-30 305.76 0.00 80.33
  • Torex Gold Resources's level of debt (43.9%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (0% vs 43.9% today).
  • Debt is well covered by operating cash flow (68%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 4.3x coverage).
X
Financial health checks
We assess Torex Gold Resources's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Torex Gold Resources has a total score of 3/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Torex Gold Resources's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from Torex Gold Resources dividends.
If you bought CA$2,000 of Torex Gold Resources shares you are expected to receive CA$0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate Torex Gold Resources's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Torex Gold Resources's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
TSX:TXG Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
Canada Metals and Mining Industry Average Dividend Yield Market Cap Weighted Average of 28 Stocks 1.2%
Canada Market Average Dividend Yield Market Cap Weighted Average of 330 Stocks 3.5%
Canada Minimum Threshold Dividend Yield 10th Percentile 1.1%
Canada Bottom 25% Dividend Yield 25th Percentile 2%
Canada Top 25% Dividend Yield 75th Percentile 5.6%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

TSX:TXG Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2022-12-31
2021-12-31
2020-12-31
2019-12-31

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as Torex Gold Resources has not reported any payouts.
  • Unable to verify if Torex Gold Resources's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Torex Gold Resources's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Torex Gold Resources has not reported any payouts.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Torex Gold Resources's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.1%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Torex Gold Resources afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Torex Gold Resources has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Torex Gold Resources's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Fred Stanford
COMPENSATION $2,771,293
AGE 59
TENURE AS CEO 9.3 years
CEO Bio

Mr. Frederick M. Stanford, also known as Fred, P.Eng, has been Chief Executive Officer, President and Non-Independent Director of Torex Gold Resources Inc (formerly, Gleichen Resources Ltd) since November 16, 2009. Mr. Stanford is a mining executive with over 35 years of experience in the mining industry. He served as the President of Ontario Operations at Vale Inco from 2006 to June 2009. He started his career at Vale Canada Limited in 1981 as a Software Designer and then moved into operations management as an underground mine foreman. He progressed through senior roles in mines operations, processing plant operations, engineering, environmental, health and safety ("EHS"), human resources and production services operations. He served on the board of directors of Laurentian University, where he serves as Executive in Residence and is a member of the board of directors of Cambrian College and of the Northern Centre for Advanced Technology (NORCAT), a non-profit commercial incubator. He is a Professional Engineer (P.Eng.) and a Certified director (ICD.D)., Institute of Corporate Directors. Mr. Stanford BS in Industrial Engineering from the Technical University of Nova Scotia.

CEO Compensation
  • Fred's compensation has been consistent with company performance over the past year.
  • Fred's remuneration is higher than average for companies of similar size in Canada.
Management Team Tenure

Average tenure of the Torex Gold Resources management team in years:

4.4
Average Tenure
  • The tenure for the Torex Gold Resources management team is about average.
Management Team

Fred Stanford

TITLE
President
COMPENSATION
$3M
AGE
59
TENURE
9.3 yrs

Mark Thorpe

TITLE
Vice President of Corporate Responsibility
COMPENSATION
$708K
TENURE
4.2 yrs

Bernie Loyer

TITLE
Vice President of Projects
COMPENSATION
$898K
TENURE
2.9 yrs

Steve Thomas

TITLE
Chief Financial Officer
TENURE
0.9 yrs

Jody Kuzenko

TITLE
Chief Operating Officer
TENURE
0.4 yrs

Mary Batoff

TITLE
General Counsel & Corporate Secretary
TENURE
4.7 yrs

Anne Stephen

TITLE
Vice President of Human Resources
COMPENSATION
$502K
TENURE
5.8 yrs

Dawson Proudfoot

TITLE
Vice President of Engineering
COMPENSATION
$587K
TENURE
9 yrs

Jamila Abassi

TITLE
Community Relations Consultant
Board of Directors Tenure

Average tenure and age of the Torex Gold Resources board of directors in years:

9.3
Average Tenure
61
Average Age
  • The tenure for the Torex Gold Resources board of directors is about average.
Board of Directors

Terry MacGibbon

TITLE
Chairman of the Board
COMPENSATION
$335K
AGE
71
TENURE
9.2 yrs

Fred Stanford

TITLE
President
COMPENSATION
$3M
AGE
59
TENURE
9.3 yrs

Michael Murphy

TITLE
Independent Director
COMPENSATION
$231K
AGE
53
TENURE
10.9 yrs

Andrew Adams

TITLE
Director
COMPENSATION
$282K
AGE
61
TENURE
9.3 yrs

Frank Davis

TITLE
Director
COMPENSATION
$275K
AGE
63
TENURE
9.3 yrs

Elizabeth Wademan

TITLE
Director
COMPENSATION
$239K
AGE
42
TENURE
2.6 yrs

Bill Shaver

TITLE
Director
COMPENSATION
$247K
AGE
61
TENURE
2.6 yrs

David Fennell

TITLE
Director
COMPENSATION
$225K
AGE
65
TENURE
9.3 yrs

Jim Crombie

TITLE
Director
COMPENSATION
$225K
AGE
60
TENURE
8 yrs
Who owns this company?
Recent Insider Trading
  • Torex Gold Resources insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (CA$) Value (CA$)
05. Feb 19 Sell Dawson Proudfoot Individual 05. Feb 19 05. Feb 19 -12,764 CA$14.06 CA$-179,061
05. Feb 19 Sell Frederick Stanford Individual 01. Feb 19 01. Feb 19 -15,600 CA$14.50 CA$-226,200
01. Feb 19 Sell Franklin Davis Individual 31. Jan 19 31. Jan 19 -12,902 CA$14.30 CA$-184,499
29. Jan 19 Sell A. MacGibbon Individual 25. Jan 19 28. Jan 19 -100,000 CA$14.01 CA$-1,400,659
19. Oct 18 Sell A. MacGibbon Individual 15. Oct 18 19. Oct 18 -42,200 CA$13.42 CA$-557,397
13. Sep 18 Sell Franklin Davis Individual 12. Sep 18 12. Sep 18 -12,039 CA$10.25 CA$-123,400
13. Jun 18 Sell A. MacGibbon Individual 11. Jun 18 11. Jun 18 -9,524 CA$13.03 CA$-124,132
X
Management checks
We assess Torex Gold Resources's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Torex Gold Resources has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Why Torex Gold Resources Inc’s (TSE:TXG) Return On Capital Employed Is Impressive

In particular, we'll consider its Return On Capital Employed (ROCE), as that can give us insight into how profitably the company is able to employ capital in its business. … Return On Capital Employed (ROCE): What is it? … ROCE is a measure of a company's yearly pre-tax profit (its return), relative to the capital employed in the business.

Simply Wall St -

Is Torex Gold Resources Inc's (TSE:TXG) 3.1% ROE Worse Than Average?

To keep the lesson grounded in practicality, we'll use ROE to better understand Torex Gold Resources Inc (TSE:TXG). … Over the last twelve months Torex Gold Resources has recorded a ROE of 3.1%. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

How Should Investors Feel About Torex Gold Resources Inc's (TSE:TXG) CEO Pay?

Fred Stanford has been the CEO of Torex Gold Resources Inc (TSE:TXG) since 2009. … Check out our latest analysis for Torex Gold Resources … How Does Fred Stanford's Compensation Compare With Similar Sized Companies?

Simply Wall St -

How Many Insiders Sold Torex Gold Resources Inc (TSE:TXG) Shares?

So before you buy or sell Torex Gold Resources Inc (TSE:TXG), you may well want to know whether insiders have been buying or selling. … Torex Gold Resources Insider Transactions Over The Last Year. … All up, insiders sold more shares in Torex Gold Resources than they bought, over the last year

Simply Wall St -

Is There An Opportunity With Torex Gold Resources Inc's (TSE:TXG) 24.66% Undervaluation?

by taking the foreast future cash flows of the company and discounting them back to today's value. … discounted cash flows (DCF). … If you want to learn more about discounted cash flow, the basis for my calcs can be read in detail in the Simply Wall St analysis model

Simply Wall St -

Can We See Significant Institutional Ownership On The Torex Gold Resources Inc (TSE:TXG) Share Register?

Every investor in Torex Gold Resources Inc (TSE:TXG) should be aware of the most powerful shareholder groups. … Institutions will often hold stock in bigger companies, and we expect to see insiders owning a noticeable percentage of the smaller ones. … With a market capitalization of CA$906m, Torex Gold Resources is a small cap stock, so it might not be well known by many institutional investors.

Simply Wall St -

How Does Torex Gold Resources Inc (TSE:TXG) Affect Your Portfolio Volatility?

Volatility is considered to be a measure of risk in modern finance theory. … Some investors use beta as a measure of how much a certain stock is impacted by market risk (volatility). … While we should keep in mind that Warren Buffett has cautioned that 'Volatility is far from synonymous with risk', beta is still a useful factor to consider.

Simply Wall St -

Is Torex Gold Resources Inc (TSE:TXG) A Financially Sound Company?

Investors are always looking for growth in small-cap stocks like Torex Gold Resources Inc (TSE:TXG), with a market cap of CA$1.0b. … However, an important fact which most ignore is: how financially healthy is the business? … the current state of its operations and pathway to profitability.

Simply Wall St -

Is Torex Gold Resources Inc's (TSE:TXG) CEO Paid Enough To Stay Motivated?

At the time of writing our data says that Torex Gold Resources Inc has a market cap of CA$1.0b, and is paying total annual CEO compensation of US$3m. … We looked at a group of companies with market capitalizations from CA$518m to CA$2.1b, and the median CEO compensation was CA$228k. … Thus we can conclude that Fred Stanford receives more in total compensation than the median of a group of companies in the same market, and of similar size to Torex Gold Resources Inc

Simply Wall St -

Who Really Owns Torex Gold Resources Inc (TSE:TXG)?

In this article, I'm going to take a look at Torex Gold Resources Inc’s (TSE:TXG) latest ownership structure, a non-fundamental factor which is important, but remains a less discussed subject among investors. … Differences in ownership structure of companies can have a profound effect on how management's incentives are aligned with shareholder returns, and whether they adhere to corporate governance best practices. … Therefore, it is beneficial for us to examine TXG's ownership structure in more detail.

Simply Wall St -

Company Info

Description

Torex Gold Resources Inc. engages in the exploration, development, and operation of mineral properties in Mexico. The company explores for gold, silver, copper, and carbon deposits. It holds a 100% interest in the Morelos Gold property comprising the El Limón Guajes mine and the Media Luna deposit that consists of 7 mineral concessions covering a total area of approximately 29,000 hectares located in the Guerrero Gold Belt in southern Mexico. The company was formerly known as Gleichen Resources Ltd. and changed its name to Torex Gold Resources Inc. in April 2010. Torex Gold Resources Inc. was founded in 1980 and is headquartered in Toronto, Canada.

Details
Name: Torex Gold Resources Inc
TXG
Exchange: TSX
Founded: 1980
CA$1,509,670,664
85,099,812
Website: http://www.torexgold.com
Address: Torex Gold Resources Inc
Exchange Tower,
Suite 740,
Toronto,
Ontario, M5X 2A2,
Canada
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSX TXG Common Shares The Toronto Stock Exchange CA CAD 10. Jul 1989
OTCPK TORX.F Common Shares Pink Sheets LLC US USD 10. Jul 1989
DB 73GN Common Shares Deutsche Boerse AG DE EUR 10. Jul 1989
LSE 0VL5 Common Shares London Stock Exchange GB CAD 10. Jul 1989
Number of employees
Current staff
Staff numbers
473
Torex Gold Resources employees.
Industry
Gold
Materials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/03/21 00:07
End of day share price update: 2019/03/20 00:00
Last estimates confirmation: 2019/02/27
Last earnings filing: 2019/02/20
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.