Torex Gold Resources (TSE:TXG) Share Price Crosses Above 200-Day Moving Average - Should You Sell?

Key Points

• Torex Gold Resources shares crossed above their 200-day moving average, reaching C$70.42 before closing at C$68.84, compared with the C$62.55 200-day average.
• Analysts have recently lowered their price targets and one firm downgraded the stock to “hold,” but the overall consensus remains “Moderate Buy” with a C$89.50 target.
• The company reported C$1.28 in quarterly EPS on C$578.12 million of revenue and paid a quarterly dividend of C$0.16, equivalent to a 0.9% annualized yield.

Torex Gold Resources Inc. (TSE:TXG - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$62.55 and traded as high as C$70.42. Torex Gold Resources shares last traded at C$68.84, with a volume of 393,902 shares changing hands.

Analysts Set New Price Targets

A number of research analysts have recently commented on TXG shares. Scotiabank cut their target price on Torex Gold Resources from C$105.00 to C$95.00 in a research note on Friday, August 7th. Canadian Imperial Bank of Commerce cut their target price on shares of Torex Gold Resources from C$100.00 to C$90.00 in a research report on Friday, August 7th. ATB Cormark Capital Markets lowered Torex Gold Resources from a "moderate buy" rating to a "hold" rating in a research report on Monday, August 10th. Finally, National Bank Financial decreased their target price on shares of Torex Gold Resources from C$89.00 to C$85.00 and set an "outperform" rating for the company in a research report on Monday, August 10th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of C$89.50.

Torex Gold Resources Stock Performance

The firm has a market capitalization of C$6.37 billion, a price-to-earnings ratio of 10.57, a PEG ratio of 0.02 and a beta of 1.96. The firm's 50 day simple moving average is C$60.88 and its 200 day simple moving average is C$62.55. The company has a debt-to-equity ratio of 3.86, a quick ratio of 2.12 and a current ratio of 1.38.

Torex Gold Resources (TSE:TXG - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported C$1.28 EPS for the quarter. Torex Gold Resources had a net margin of 33.02% and a return on equity of 25.62%. The company had revenue of C$578.12 million for the quarter. Sell-side analysts forecast that Torex Gold Resources Inc. will post 3.6254502 earnings per share for the current fiscal year.

Torex Gold Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 4th. Shareholders of record on Friday, September 4th were given a $0.16 dividend. The ex-dividend date was Friday, August 21st. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.9%. Torex Gold Resources's dividend payout ratio is 5.12%.

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.

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