Torex Gold Resources (TSE:TXG) Stock Crosses Above 200 Day Moving Average – Here’s Why

Torex Gold Resources Inc. (TSE:TXG) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$25.08 and traded as high as C$27.49. Torex Gold Resources shares last traded at C$27.12, with a volume of 267,492 shares traded.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. National Bankshares upgraded shares of Torex Gold Resources from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from C$31.25 to C$37.75 in a research report on Thursday, October 10th. TD Securities boosted their price target on shares of Torex Gold Resources from C$34.00 to C$38.00 in a research report on Friday, October 18th. Scotiabank lifted their price objective on shares of Torex Gold Resources from C$33.00 to C$37.00 in a research note on Thursday, November 21st. CIBC lifted their price objective on shares of Torex Gold Resources from C$33.00 to C$34.50 in a research note on Monday, December 2nd. Finally, National Bank Financial raised shares of Torex Gold Resources from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 9th. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of C$34.03.

Torex Gold Resources Price Performance

The stock has a market capitalization of C$2.33 billion, a PE ratio of 16.34, a price-to-earnings-growth ratio of 0.02 and a beta of 1.34. The company has a quick ratio of 2.12, a current ratio of 1.09 and a debt-to-equity ratio of 7.32. The stock’s 50 day moving average price is C$29.11 and its 200-day moving average price is C$25.08.

Torex Gold Resources (TSE:TXG) last issued its earnings results on Wednesday, November 6th. The company reported C$1.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.82 by C$0.20. The firm had revenue of C$427.96 million during the quarter. Torex Gold Resources had a net margin of 11.16% and a return on equity of 7.12%. As a group, equities analysts forecast that Torex Gold Resources Inc. will post 3.6254502 EPS for the current year.

Torex Gold Resources Company Profile

Torex Gold Resources Inc operates as an intermediate gold producer in Mexico. It primarily holds a 100% interest in the Morelos Gold property, including Morelos Complex, which includes the El Limón Guajes Mine Complex; the Media Luna Project, a processing plant; and related infrastructure that covers an area of 29,000 hectares located southwest of Mexico City.