Torex Gold Resources (TSE:TXG) Share Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Torex Gold Resources Inc. (TSE:TXG)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$54.40 and traded as high as C$69.45. Torex Gold Resources shares last traded at C$69.45, with a volume of 397,116 shares trading hands.

Analysts Set New Price Targets

TXG has been the subject of several recent research reports. CIBC increased 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 report on Thursday, October 23rd. Canaccord Genuity Group raised their price target on shares of Torex Gold Resources from C$64.00 to C$77.00 in a report on Thursday, October 2nd. National Bankshares cut their price objective on shares of Torex Gold Resources from C$90.00 to C$85.00 and set an “outperform” rating on the stock in a report on Tuesday, December 9th. Finally, Royal Bank Of Canada upped their price objective on shares of Torex Gold Resources from C$77.00 to C$94.00 in a research report on Wednesday, December 10th. One research analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the stock. According to MarketBeat, Torex Gold Resources has an average rating of “Buy” and an average price target of C$69.20.

Torex Gold Resources Trading Up 0.8%

The company has a market cap of C$6.68 billion, a P/E ratio of 20.43, a P/E/G ratio of 0.02 and a beta of 1.28. The business has a fifty day simple moving average of C$63.73 and a 200 day simple moving average of C$54.40. The company has a debt-to-equity ratio of 8.09, a quick ratio of 2.12 and a current ratio of 1.00.

Torex Gold Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 4th. Shareholders of record on Thursday, December 4th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend was Thursday, November 20th.

About Torex Gold Resources

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.