Torex Gold Resources (TSE:TXG) Stock Crosses Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• Torex Gold Resources shares crossed above their 200-day moving average, reaching C$67.95 and closing at C$67.14, compared with a 200-day average of C$63.16.
• Analyst sentiment remains positive overall, with an average “Buy” rating and a C$92.80 target price, although Scotiabank and CIBC recently lowered their targets while National Bank Financial raised its target to C$89.
• The company reported C$1.28 in quarterly earnings per share on C$578.12 million in revenue and pays a quarterly dividend of $0.16 per share, equivalent to a 1.0% annualized yield.

Torex Gold Resources Inc. (TSE:TXG - Get Free Report) shares passed above its 200-day moving average during trading on Friday. The stock has a 200-day moving average of C$63.16 and traded as high as C$67.95. Torex Gold Resources shares last traded at C$67.14, with a volume of 363,302 shares traded.

Analysts Set New Price Targets

A number of research firms recently commented on TXG. Scotiabank dropped their target price on shares of Torex Gold Resources from C$105.00 to C$95.00 in a report on Friday, August 7th. ATB Cormark Capital Markets upgraded shares of Torex Gold Resources from a "hold" rating to a "moderate buy" rating in a report on Monday, September 28th. Canadian Imperial Bank of Commerce decreased their price target on shares of Torex Gold Resources from C$100.00 to C$90.00 in a research report on Friday, August 7th. Finally, National Bank Financial lifted their price target on shares of Torex Gold Resources from C$85.00 to C$89.00 and gave the stock an "outperform" rating in a research report on Monday, September 21st. Two research analysts have rated the stock with a Buy rating. According to MarketBeat, the company has an average rating of "Buy" and an average target price of C$92.80.

Torex Gold Resources Stock Performance

The firm has a market capitalization of C$6.22 billion, a PE ratio of 10.31, a P/E/G ratio of 0.02 and a beta of 1.80. The company has a debt-to-equity ratio of 3.86, a current ratio of 1.38 and a quick ratio of 2.12. The firm has a fifty day moving average price of C$69.77 and a 200 day moving average price of C$63.16.

Torex Gold Resources (TSE:TXG - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported C$1.28 earnings per share for the quarter. The business had revenue of C$578.12 million during the quarter. Torex Gold Resources had a return on equity of 25.62% and a net margin of 33.02%. Research analysts anticipate that Torex Gold Resources Inc. will post 3.63 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 paid a dividend of $0.16 per share. The ex-dividend date of this dividend was Friday, August 21st. This represents a $0.64 dividend on an annualized basis and a yield of 1.0%. Torex Gold Resources's dividend payout ratio is currently 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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