Torex Gold Resources (TSE:TXG) Stock Passes Below 200 Day Moving Average - Should You Sell?

Key Points

• Technical break: Torex shares fell below their 200-day moving average (200‑day MA C$65.51), trading as low as C$62.60 and last at C$63.51, down about 5.2% on the move.
• Several firms raised price targets (Scotiabank to C$95, CIBC to C$100, TD to C$96) and five analysts rate the stock a Buy, with an average target of C$80.67, implying notable upside from current levels.
• Torex has a market cap of C$6.06B and a P/E of 14.02, pays a C$0.60 annualized dividend (yield 0.9%), but carries a high debt-to-equity ratio of 8.34, which investors should weigh against the analyst optimism.

Torex Gold Resources Inc. (TSE:TXG - Get Free Report) shares passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$65.51 and traded as low as C$62.60. Torex Gold Resources shares last traded at C$63.51, with a volume of 842,639 shares changing hands.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on TXG. Scotiabank upped their price objective on shares of Torex Gold Resources from C$72.00 to C$95.00 in a report on Monday, January 26th. Canadian Imperial Bank of Commerce upped their price objective on shares of Torex Gold Resources from C$90.00 to C$100.00 in a report on Wednesday, February 4th. Finally, TD Securities upped their price objective on shares of Torex Gold Resources from C$78.00 to C$96.00 in a report on Thursday, January 22nd. Five investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of C$80.67.

Torex Gold Resources Stock Down 5.2%

The company has a current ratio of 1.16, a quick ratio of 2.12 and a debt-to-equity ratio of 8.34. The company has a market capitalization of C$6.06 billion, a PE ratio of 14.02, a price-to-earnings-growth ratio of 0.02 and a beta of 1.84. The business's 50-day simple moving average is C$66.39 and its 200-day simple moving average is C$65.51.

Torex Gold Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 19th. Stockholders of record on Thursday, March 19th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Thursday, March 5th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.9%. Torex Gold Resources's dividend payout ratio (DPR) is presently 2.37%.

About Torex Gold Resources

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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