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

Key Points

• Torex Gold shares moved above their 200-day moving average, reaching C$64.32 before closing at C$62.18, while trading volume totaled 704,011 shares.
• Analysts remain generally positive, with a “Moderate Buy” consensus and an average C$85.00 price target, although several firms recently cut their targets and ATB Cormark downgraded the stock to “Hold.”
• 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 per share, equivalent to a 1.0% annual yield.

Shares of Torex Gold Resources Inc. (TSE:TXG - Get Free Report) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$61.96 and traded as high as C$64.32. Torex Gold Resources shares last traded at C$62.18, with a volume of 704,011 shares changing hands.

Analysts Set New Price Targets

A number of brokerages have issued reports on TXG. Scotiabank decreased their target price on Torex Gold Resources from C$105.00 to C$95.00 in a research report on Friday, August 7th. Canadian Imperial Bank of Commerce reduced their price objective on shares of Torex Gold Resources from C$100.00 to C$90.00 in a research note on Friday, August 7th. National Bank Financial decreased their price objective on shares of Torex Gold Resources from C$89.00 to C$85.00 and set an "outperform" rating for the company in a report on Monday, August 10th. Finally, ATB Cormark Capital Markets lowered shares of Torex Gold Resources from a "moderate buy" rating to a "hold" rating in a research note on Monday, August 10th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Torex Gold Resources presently has an average rating of "Moderate Buy" and an average target price of C$85.00.

Torex Gold Resources Stock Down 3.0%

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 business has a 50 day moving average price of C$57.40 and a 200 day moving average price of C$61.96. The firm has a market capitalization of C$5.76 billion, a P/E ratio of 9.55, a price-to-earnings-growth ratio of 0.02 and a beta of 1.96.

Torex Gold Resources (TSE:TXG - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported C$1.28 earnings per share for the quarter. Torex Gold Resources had a return on equity of 25.62% and a net margin of 33.02%.The business had revenue of C$578.12 million during the quarter. On average, analysts predict that Torex Gold Resources Inc. will post 3.6254502 earnings per share for the current year.

Torex Gold Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 4th. Stockholders of record on Friday, September 4th will be issued a dividend of $0.16 per share. The ex-dividend date is Friday, August 21st. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.0%. Torex Gold Resources's payout ratio is 5.12%.

Insider Activity at Torex Gold Resources

In other Torex Gold Resources news, insider Daniel James Thomas Rollins acquired 850 shares of Torex Gold Resources stock in a transaction dated Tuesday, June 2nd. The stock was bought at an average cost of C$61.51 per share, with a total value of C$52,283.50. Following the completion of the transaction, the insider owned 13,926 shares of the company's stock, valued at C$856,588.26. The trade was a 6.50% increase in their ownership of the stock. Insiders purchased 2,250 shares of company stock worth $137,030 in the last three months. 0.35% of the stock is owned by insiders.

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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