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

Key Points

• Torex Gold Resources shares have surpassed their 200-day moving average, which currently stands at C$42.58, reaching a high of C$55.42 before last trading at C$54.67.
• Brokerage firms have been optimistic about the stock, with Raymond James raising their price target from C$55 to C$58, while Royal Bank of Canada increased theirs from C$60 to C$65.
• The company, operating in the Guerrero Gold Belt in Mexico, has a market capitalization of C$4.71 billion and an average rating of "Buy" from analysts, with a consensus target price of C$59.89.

Shares of Torex Gold Resources Inc. (TSE:TXG - Get Free Report) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$42.58 and traded as high as C$55.42. Torex Gold Resources shares last traded at C$54.67, with a volume of 420,012 shares changing hands.

Analysts Set New Price Targets

A number of research firms have issued reports on TXG. Scotiabank boosted their price target on Torex Gold Resources from C$48.00 to C$50.00 and gave the company an "outperform" rating in a research report on Wednesday, June 4th. Desjardins upped their target price on Torex Gold Resources from C$63.00 to C$65.00 and gave the stock a "buy" rating in a research report on Tuesday, July 29th. National Bankshares set a C$70.00 target price on Torex Gold Resources and gave the stock an "outperform" rating in a report on Thursday, June 5th. Raymond James Financial increased their target price on Torex Gold Resources from C$55.00 to C$58.00 in a report on Thursday, August 21st. Finally, Royal Bank Of Canada lifted their price target on Torex Gold Resources from C$60.00 to C$65.00 in a research report on Thursday, June 12th. Two analysts have rated the stock with a Strong Buy rating and five have assigned a Buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of C$59.89.

Torex Gold Resources Price Performance

The stock has a 50 day moving average of C$45.11 and a two-hundred day moving average of C$43.03. The company has a debt-to-equity ratio of 8.09, a quick ratio of 2.12 and a current ratio of 1.00. The firm has a market capitalization of C$4.76 billion, a P/E ratio of 22.70, a P/E/G ratio of 0.02 and a beta of 0.70.

Torex Gold Resources Company Profile

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.