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

Key Points

• Shares of Torex Gold Resources (TSE:TXG) recently surpassed its 200-day moving average, trading as high as C$42.00 before closing at C$41.25.
• Recent upgrades from equity analysts include a target price increase from C$46.00 to C$55.00 by Cormark and a raise from C$42.00 to C$58.00 by CIBC, reflecting strong confidence in the stock.
• The stock currently holds an average rating of "Buy" from six analysts, with an average target price of C$57.56.

Torex Gold Resources Inc. (TSE:TXG - Get Free Report) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$39.31 and traded as high as C$42.00. Torex Gold Resources shares last traded at C$41.25, with a volume of 614,801 shares trading hands.

Wall Street Analyst Weigh In

TXG has been the subject of several analyst reports. BMO Capital Markets raised their price objective on shares of Torex Gold Resources from C$44.00 to C$56.00 in a report on Friday, May 2nd. Scotiabank increased their target price on Torex Gold Resources from C$48.00 to C$50.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 4th. Cormark raised their price target on Torex Gold Resources from C$46.00 to C$55.00 in a report on Monday, April 14th. Raymond James Financial boosted their price objective on Torex Gold Resources from C$47.00 to C$55.00 in a research note on Tuesday. Finally, Royal Bank Of Canada raised their target price on Torex Gold Resources from C$60.00 to C$65.00 in a research note on Thursday, June 12th. Six investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Buy" and an average target price of C$59.00.

Torex Gold Resources Stock Performance

The firm has a market capitalization of C$2.37 billion, a PE ratio of 20.99, a PEG ratio of 0.02 and a beta of 1.34. The company has a quick ratio of 2.12, a current ratio of 1.00 and a debt-to-equity ratio of 8.09. The company has a 50-day moving average of C$44.15 and a 200 day moving average of C$39.39.

About Torex Gold Resources

Torex Gold Resources Inc is an intermediate producer of gold and other precious metals, engaged in the exploration, development, and exploration of its wholly owned Morelos Gold Property. The property consists of 29,000 hectares in the Guerrero Gold Belt, located 180 kilometres southwest of Mexico City and approximately 50 kilometres southwest of Iguala.