Torex Gold Resources (TSE:TXG) Share Price Passes Above 200 Day Moving Average - Here's Why

Key Points

• Shares crossed above the 200-day moving average (200‑day MA C$63.34), trading as high as C$76.96 and last at C$74.93 on volume of 609,568, indicating recent bullish technical momentum.
• Analysts are mostly bullish: multiple firms (Scotiabank, TD, CIBC, RBC) raised targets into the C$94–C$100 range while National Bank set C$85, leaving a consensus Buy rating and an average price target of C$78.10.
• The company has a market cap of C$7.15 billion and a P/E of 16.54, and it announced a quarterly dividend of $0.15 (annualized $0.60, yield 0.8%) with an ex-dividend date of March 5 and payment on March 19.

Shares of Torex Gold Resources Inc. (TSE:TXG - Get Free Report) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$63.34 and traded as high as C$76.96. Torex Gold Resources shares last traded at C$74.93, with a volume of 609,568 shares traded.

Analyst Upgrades and Downgrades

TXG has been the topic of several research reports. Scotiabank boosted their target price on Torex Gold Resources from C$72.00 to C$95.00 in a research note on Monday, January 26th. TD Securities lifted their price objective on shares of Torex Gold Resources from C$78.00 to C$96.00 in a report on Thursday, January 22nd. Canadian Imperial Bank of Commerce boosted their price objective on shares of Torex Gold Resources from C$90.00 to C$100.00 in a research report on Wednesday, February 4th. Royal Bank Of Canada increased their target price on shares of Torex Gold Resources from C$77.00 to C$94.00 in a report on Wednesday, December 10th. Finally, National Bank Financial lowered their price target on shares of Torex Gold Resources from C$90.00 to C$85.00 and set an "outperform" rating on the stock in a research note on Tuesday, December 9th. Five analysts have rated the stock with a Buy rating, According to MarketBeat.com, Torex Gold Resources currently has an average rating of "Buy" and a consensus price target of C$78.10.

Torex Gold Resources Stock Up 1.4%

The firm has a fifty day moving average of C$70.56 and a 200-day moving average of C$63.34. The company has a quick ratio of 2.12, a current ratio of 1.16 and a debt-to-equity ratio of 8.34. The firm has a market cap of C$7.15 billion, a P/E ratio of 16.54, a price-to-earnings-growth ratio of 0.02 and a beta of 1.37.

Torex Gold Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 19th. Stockholders of record on Thursday, March 19th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Thursday, March 5th. Torex Gold Resources's dividend payout ratio is presently 2.37%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.