Torex Gold Resources (TSE:TXG) Share Price Passes Above 200-Day Moving Average – Should You Sell?

Torex Gold Resources Inc. (TSE:TXG) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$49.93 and traded as high as C$64.42. Torex Gold Resources shares last traded at C$63.04, with a volume of 590,573 shares.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on TXG. National Bankshares boosted their price objective on Torex Gold Resources from C$75.00 to C$86.00 and gave the company an “outperform” rating in a report on Wednesday, October 15th. CIBC boosted their target price 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. TD Securities lowered their target price on shares of Torex Gold Resources from C$64.00 to C$62.00 and set a “buy” rating for the company in a research note on Friday, August 8th. Raymond James Financial raised their price target on shares of Torex Gold Resources from C$55.00 to C$58.00 in a research note on Thursday, August 21st. Finally, Desjardins boosted their price objective on shares of Torex Gold Resources from C$63.00 to C$65.00 and gave the company a “buy” rating in a research report on Tuesday, July 29th. One analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of C$66.40.

Torex Gold Resources Stock Performance

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 stock has a market cap of C$6.06 billion, a PE ratio of 18.54, a P/E/G ratio of 0.02 and a beta of 1.04. The business’s 50-day moving average price is C$60.11 and its 200-day moving average price is C$49.93.

Torex Gold Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 4th. Stockholders 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 dividend yield of 1.0%. The ex-dividend date 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.