Torex Gold Resources (TSE:TXG) Share Price Crosses Above 200-Day Moving Average – Here’s Why

Shares of Torex Gold Resources Inc. (TSE:TXG) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$50.86 and traded as high as C$64.50. Torex Gold Resources shares last traded at C$63.22, with a volume of 299,693 shares.

Analyst Ratings Changes

A number of research analysts recently issued reports on TXG shares. Raymond James Financial raised their price target on Torex Gold Resources from C$55.00 to C$58.00 in a research note on Thursday, August 21st. National Bankshares raised their price objective on shares of Torex Gold Resources from C$75.00 to C$86.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 15th. CIBC lifted their price objective on shares of Torex Gold Resources from C$66.00 to C$90.00 and gave the company an “outperform” rating in a research note on Thursday, October 23rd. Canaccord Genuity Group increased their target price on shares of Torex Gold Resources from C$64.00 to C$77.00 in a research note on Thursday, October 2nd. Finally, TD Securities lowered their price target on Torex Gold Resources from C$64.00 to C$62.00 and set a “buy” rating on the stock in a report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of C$66.40.

Torex Gold Resources Stock Down 0.3%

The company has a current ratio of 1.00, a quick ratio of 2.12 and a debt-to-equity ratio of 8.09. The company has a market capitalization of C$6.08 billion, a price-to-earnings ratio of 18.59, a PEG ratio of 0.02 and a beta of 1.04. The firm’s 50 day simple moving average is C$61.21 and its 200-day simple moving average is C$50.86.

Torex Gold Resources Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 4th. Investors of record on Thursday, December 4th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Thursday, November 20th.

Torex Gold Resources Company Profile

Torex Gold Resources Inc is an intermediate producer of gold and other precious metals, engaged in the exploration, development, and exploration of its wholly owned Morelos Gold Property. The property consists of 29,000 hectares in the Guerrero Gold Belt, located 180 kilometres southwest of Mexico City and approximately 50 kilometres southwest of Iguala.