Torex Gold Resources (TSE:TXG) Shares Pass Above Two Hundred Day Moving Average - Should You Sell?

Key Points

• Torex Gold Resources shares moved above their 200-day moving average, reaching C$68.36 and closing at C$67.75, compared with the 200-day average of C$62.21.
• Analysts recently lowered their price targets and one brokerage 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 in revenue and declared a quarterly dividend of C$0.16, equal to a 0.9% yield.

Torex Gold Resources Inc. (TSE:TXG - Get Free Report)'s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$62.21 and traded as high as C$68.36. Torex Gold Resources shares last traded at C$67.75, with a volume of 323,904 shares trading hands.

Analyst Ratings Changes

A number of brokerages have recently weighed in on TXG. Canadian Imperial Bank of Commerce cut their price objective on Torex Gold Resources from C$100.00 to C$90.00 in a report on Friday, August 7th. ATB Cormark Capital Markets downgraded Torex Gold Resources from a "moderate buy" rating to a "hold" rating in a report on Monday, August 10th. National Bank Financial dropped their target price on Torex Gold Resources from C$89.00 to C$85.00 and set an "outperform" rating on the stock in a research report on Monday, August 10th. Finally, Scotiabank cut their price target on shares of Torex Gold Resources from C$105.00 to C$95.00 in a report on Friday, August 7th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of C$89.50.

Torex Gold Resources Trading Down 1.0%

The stock has a market cap of C$6.27 billion, a PE ratio of 10.41, a PEG ratio of 0.02 and a beta of 1.96. The company's fifty day moving average is C$59.37 and its 200-day moving average is C$62.21. The company has a debt-to-equity ratio of 3.86, a current ratio of 1.38 and a quick ratio of 2.12.

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. The company had revenue of C$578.12 million for the quarter. Torex Gold Resources had a net margin of 33.02% and a return on equity of 25.62%. On average, analysts predict that Torex Gold Resources Inc. will post 3.6254502 earnings per share for the current fiscal year.

Torex Gold Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 4th. Stockholders of record on Friday, September 4th will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, August 21st. Torex Gold Resources's 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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