Torex Gold Resources (TSE:TXG) Stock Passes Above Two Hundred Day Moving Average – Should You Sell?

Torex Gold Resources Inc. (TSE:TXG) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$60.62 and traded as high as C$69.77. Torex Gold Resources shares last traded at C$67.88, with a volume of 785,462 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Scotiabank lifted their target price on Torex Gold Resources from C$72.00 to C$95.00 in a report on Monday, January 26th. TD Securities raised their price target on shares of Torex Gold Resources from C$78.00 to C$96.00 in a research report on Thursday, January 22nd. National Bank Financial dropped their price objective on shares of Torex Gold Resources from C$90.00 to C$85.00 and set an “outperform” rating for the company in a research note on Tuesday, December 9th. Royal Bank Of Canada increased their target price on shares of Torex Gold Resources from C$77.00 to C$94.00 in a research report on Wednesday, December 10th. Finally, Canadian Imperial Bank of Commerce raised their target price on shares of Torex Gold Resources from C$90.00 to C$100.00 in a report on Wednesday, February 4th. Five research analysts have rated the stock with a Buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of C$78.10.

Torex Gold Resources Stock Up 1.2%

The company has a quick ratio of 2.12, a current ratio of 1.00 and a debt-to-equity ratio of 8.09. The firm has a 50 day moving average of C$68.39 and a two-hundred day moving average of C$60.62. The firm has a market capitalization of C$6.53 billion, a price-to-earnings ratio of 19.96, a price-to-earnings-growth ratio of 0.02 and a beta of 1.13.

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.