Torex Gold Resources (TSE:TXG) Shares Cross Above 200 Day Moving Average – Here’s What Happened

Torex Gold Resources Inc. (TSE:TXG) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$58.31 and traded as high as C$68.13. Torex Gold Resources shares last traded at C$64.10, with a volume of 984,778 shares traded.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. National Bankshares cut their price objective on Torex Gold Resources from C$90.00 to C$85.00 and set an “outperform” rating on the stock in a research report on Tuesday, December 9th. Royal Bank Of Canada upped their price target on Torex Gold Resources from C$77.00 to C$94.00 in a research note on Wednesday, December 10th. CIBC increased their price objective on Torex Gold Resources from C$66.00 to C$90.00 and gave the stock an “outperform” rating in a report on Thursday, October 23rd. TD Securities boosted their target price on shares of Torex Gold Resources from C$78.00 to C$96.00 in a report on Thursday, January 22nd. Finally, Scotiabank increased their price target on shares of Torex Gold Resources from C$72.00 to C$95.00 in a research note on Monday, January 26th. One analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the stock. According to data from MarketBeat, Torex Gold Resources has an average rating of “Buy” and an average price target of C$77.10.

Torex Gold Resources Stock Performance

The company has a debt-to-equity ratio of 8.09, a current ratio of 1.00 and a quick ratio of 2.12. The business has a 50 day moving average price of C$68.30 and a 200 day moving average price of C$58.31. The stock has a market capitalization of C$6.16 billion, a PE ratio of 18.85, a PEG ratio of 0.02 and a beta of 1.28.

Torex Gold Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 4th. Investors of record on Thursday, December 4th were given 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 was 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. Within this property, the company has two assets: the El Limon-Guajes Mine, an open pit gold deposit located north of the Balsas river, and the Media Luna Project, which is at an advanced stage of exploration.