Torex Gold Resources (TSE:TXG) Share Price Passes Above 200 Day Moving Average – Here’s Why

Shares of Torex Gold Resources Inc. (TSE:TXG) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$63.34 and traded as high as C$76.96. Torex Gold Resources shares last traded at C$74.93, with a volume of 609,568 shares traded.

Analyst Upgrades and Downgrades

TXG has been the topic of several research reports. Scotiabank boosted their target price on Torex Gold Resources from C$72.00 to C$95.00 in a research note on Monday, January 26th. TD Securities lifted their price objective on shares of Torex Gold Resources from C$78.00 to C$96.00 in a report on Thursday, January 22nd. Canadian Imperial Bank of Commerce boosted their price objective on shares of Torex Gold Resources from C$90.00 to C$100.00 in a research report on Wednesday, February 4th. Royal Bank Of Canada increased their target price on shares of Torex Gold Resources from C$77.00 to C$94.00 in a report on Wednesday, December 10th. Finally, National Bank Financial lowered 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 note on Tuesday, December 9th. Five analysts have rated the stock with a Buy rating, According to MarketBeat.com, Torex Gold Resources currently has an average rating of “Buy” and a consensus price target of C$78.10.

Torex Gold Resources Stock Up 1.4%

The firm has a fifty day moving average of C$70.56 and a 200-day moving average of C$63.34. The company has a quick ratio of 2.12, a current ratio of 1.16 and a debt-to-equity ratio of 8.34. The firm has a market cap of C$7.15 billion, a P/E ratio of 16.54, a price-to-earnings-growth ratio of 0.02 and a beta of 1.37.

Torex Gold Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 19th. Stockholders of record on Thursday, March 19th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Thursday, March 5th. Torex Gold Resources’s dividend payout ratio is presently 2.37%.

Torex Gold Resources Company Profile

Torex Gold Resources Inc is a Canadian mining company engaged in the exploration, development, and production of gold, copper, and silver from its flagship Morelos Complex in Guerrero, which is currently Mexico’s largest single gold producer.