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

Key Points

• Torex Gold Resources shares moved above their 200-day moving average, reaching C$68.94 before closing at C$65.93, up from the C$62.40 average.
• Analysts remain moderately bullish, with two Buy ratings and one Hold rating, but several firms lowered their price targets. The consensus target is C$89.50, well above the latest share price.
• The company reported C$1.28 in quarterly EPS on C$578.12 million in revenue and maintains strong profitability, including a 33.02% net margin and a 1.0% dividend yield.

Torex Gold Resources Inc. (TSE:TXG - Get Free Report)'s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$62.40 and traded as high as C$68.94. Torex Gold Resources shares last traded at C$65.93, with a volume of 483,018 shares traded.

Analyst Upgrades and Downgrades

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

Torex Gold Resources Stock Down 1.3%

The company has a quick ratio of 2.12, a current ratio of 1.38 and a debt-to-equity ratio of 3.86. The firm has a market capitalization of C$6.10 billion, a PE ratio of 10.13, a price-to-earnings-growth ratio of 0.02 and a beta of 1.96. The business's 50-day moving average price is C$62.07 and its 200-day moving average price is C$62.40.

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 business 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%. As a group, equities research analysts predict that Torex Gold Resources Inc. will post 3.6254502 EPS for the current fiscal year.

Torex Gold Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 4th. Shareholders of record on Friday, September 4th were paid a $0.16 dividend. The ex-dividend date was Friday, August 21st. This represents a $0.64 dividend on an annualized basis and a yield of 1.0%. 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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