Torex Gold Resources Inc.

TSX:TXG Stock Report

Market Cap: CA$2.7b

Torex Gold Resources Valuation

Is TXG undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of TXG when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: TXG (CA$31.07) is trading below our estimate of fair value (CA$131.22)

Significantly Below Fair Value: TXG is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for TXG?

Key metric: As TXG is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for TXG. This is calculated by dividing TXG's market cap by their current earnings.
What is TXG's PE Ratio?
PE Ratio15.3x
EarningsUS$124.60m
Market CapUS$1.91b

Price to Earnings Ratio vs Peers

How does TXG's PE Ratio compare to its peers?

The above table shows the PE ratio for TXG vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average51.3x
NGD New Gold
111.8x85.9%CA$3.1b
EQX Equinox Gold
10.6x18.1%CA$3.6b
OGC OceanaGold
33.9x58.0%CA$3.1b
SSL Sandstorm Gold
49x86.6%CA$2.4b
TXG Torex Gold Resources
15.3x39.0%CA$2.7b

Price-To-Earnings vs Peers: TXG is good value based on its Price-To-Earnings Ratio (15.3x) compared to the peer average (51.3x).

Price to Earnings Ratio vs Industry

How does TXG's PE Ratio compare vs other companies in the CA Metals and Mining Industry?

33 CompaniesPrice / EarningsEstimated GrowthMarket Cap
SLI Standard Lithium
2.9xn/aUS$325.70m
APM Andean Precious Metals
2.4x-42.9%US$133.57m
STGO Steppe Gold
2.3xn/aUS$117.57m
DC.A Dundee
2.3xn/aUS$106.83m
TXG 15.3xIndustry Avg. 12.5xNo. of Companies33PE01632486480+
33 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: TXG is expensive based on its Price-To-Earnings Ratio (15.3x) compared to the Canadian Metals and Mining industry average (12.3x).

Price to Earnings Ratio vs Fair Ratio

What is TXG's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

TXG PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio15.3x
Fair PE Ratio28.5x

Price-To-Earnings vs Fair Ratio: TXG is good value based on its Price-To-Earnings Ratio (15.3x) compared to the estimated Fair Price-To-Earnings Ratio (28.5x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst TXG forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentCA$31.07
CA$36.27
+16.7%
9.0%CA$43.00CA$31.20n/a11
Nov ’25CA$30.05
CA$35.59
+18.4%
9.4%CA$43.00CA$31.20n/a11
Oct ’25CA$25.98
CA$32.31
+24.4%
9.0%CA$38.00CA$26.00n/a11
Sep ’25CA$26.00
CA$30.05
+15.6%
11.2%CA$38.00CA$26.00n/a10
Aug ’25CA$21.39
CA$29.14
+36.2%
8.7%CA$34.00CA$26.00n/a9
Jul ’25CA$21.20
CA$28.11
+32.6%
10.8%CA$34.00CA$23.00n/a9
Jun ’25CA$21.45
CA$27.50
+28.2%
11.8%CA$34.00CA$23.00n/a8
May ’25CA$19.50
CA$26.09
+33.8%
13.4%CA$34.00CA$23.00n/a8
Apr ’25CA$19.66
CA$23.84
+21.3%
13.4%CA$30.00CA$18.50n/a8
Mar ’25CA$15.15
CA$23.72
+56.6%
13.5%CA$30.00CA$18.50n/a8
Feb ’25CA$14.10
CA$23.72
+68.2%
13.5%CA$30.00CA$18.50n/a8
Jan ’25CA$14.62
CA$23.59
+61.4%
15.0%CA$30.00CA$18.25n/a8
Dec ’24CA$15.53
CA$23.41
+50.7%
15.4%CA$30.00CA$18.25n/a8
Nov ’24CA$13.35
CA$24.07
+80.3%
17.2%CA$32.00CA$19.00CA$30.057
Oct ’24CA$14.13
CA$25.14
+77.9%
13.7%CA$32.00CA$21.50CA$25.987
Sep ’24CA$15.32
CA$25.00
+63.2%
14.4%CA$32.00CA$21.00CA$26.007
Aug ’24CA$17.93
CA$25.14
+40.2%
14.3%CA$32.00CA$21.00CA$21.397
Jul ’24CA$18.82
CA$25.21
+34.0%
15.5%CA$32.00CA$20.00CA$21.207
Jun ’24CA$21.56
CA$25.21
+16.9%
15.5%CA$32.00CA$20.00CA$21.457
May ’24CA$22.20
CA$25.29
+13.9%
15.5%CA$32.00CA$20.00CA$19.507
Apr ’24CA$22.49
CA$23.33
+3.7%
13.5%CA$29.00CA$20.00CA$19.666
Mar ’24CA$17.90
CA$22.71
+26.9%
13.5%CA$29.00CA$20.00CA$15.157
Feb ’24CA$18.92
CA$22.57
+19.3%
15.0%CA$29.00CA$18.50CA$14.107
Jan ’24CA$15.55
CA$20.06
+29.0%
17.7%CA$27.00CA$15.50CA$14.629
Dec ’23CA$13.16
CA$19.94
+51.6%
17.6%CA$27.00CA$15.50CA$15.539
Nov ’23CA$9.65
CA$19.94
+106.7%
17.5%CA$27.00CA$15.00CA$13.359

Analyst Forecast: Target price is less than 20% higher than the current share price.

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