Torex Gold Resources (TSE:TXG) Stock Price Passes Above 200-Day Moving Average – Time to Sell?

Shares of Torex Gold Resources Inc. (TSE:TXG) passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$26.90 and traded as high as C$31.65. Torex Gold Resources shares last traded at C$30.83, with a volume of 220,038 shares changing hands.

Wall Street Analyst Weigh In

TXG has been the subject of a number of recent research reports. TD Securities raised their target price on Torex Gold Resources from C$34.00 to C$38.00 in a research note on Friday, October 18th. Raymond James raised their price objective on shares of Torex Gold Resources from C$33.00 to C$34.00 in a research report on Tuesday, January 7th. Royal Bank of Canada boosted their target price on shares of Torex Gold Resources from C$34.00 to C$37.00 in a report on Friday, December 6th. Scotiabank raised their price target on shares of Torex Gold Resources from C$33.00 to C$37.00 in a report on Thursday, November 21st. Finally, National Bank Financial raised shares of Torex Gold Resources from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 9th. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of C$34.81.

Torex Gold Resources Trading Down 0.6 %

The business’s 50-day simple moving average is C$28.85 and its two-hundred day simple moving average is C$26.90. The firm has a market capitalization of C$2.65 billion, a price-to-earnings ratio of 18.57, a PEG 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.

Torex Gold Resources (TSE:TXG) last posted its quarterly earnings data on Wednesday, November 6th. The company reported C$1.02 earnings per share for the quarter, topping 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%. Equities analysts forecast that Torex Gold Resources Inc. will post 3.6254502 earnings per share for the current year.

Insider Activity

In other Torex Gold Resources news, Director Caroline Donally bought 1,000 shares of Torex Gold Resources stock in a transaction on Monday, January 20th. The shares were bought at an average cost of C$27.91 per share, for a total transaction of C$27,908.00. Also, Senior Officer Faysal Abhem Rodriguez Valenzuela sold 5,623 shares of the business’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of C$28.97, for a total transaction of C$162,898.31. Over the last ninety days, insiders bought 2,000 shares of company stock valued at $55,927. 0.35% of the stock is currently owned by corporate insiders.

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.