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

Torex Gold Resources Inc. (TSE:TXG)’s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-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 changing hands.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on TXG. Scotiabank increased their target price on Torex Gold Resources from C$72.00 to C$95.00 in a research note on Monday, January 26th. National Bankshares reduced their price target on shares of 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. CIBC boosted their price objective on shares of 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. 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 note on Wednesday, December 10th. Finally, TD Securities lifted their target price on shares of Torex Gold Resources from C$78.00 to C$96.00 in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of C$77.10.

Torex Gold Resources Trading Down 2.2%

The firm’s 50 day moving average is C$68.30 and its 200 day moving average is C$58.31. 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 company has a market capitalization of C$6.16 billion, a PE ratio of 18.85, a P/E/G ratio of 0.02 and a beta of 1.28.

Torex Gold Resources Announces Dividend

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