Torex Gold Resources (TSE:TXG) Shares Cross Above 200 Day Moving Average - Should You Sell?

Key Points

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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$40.57 and traded as high as C$43.17. Torex Gold Resources shares last traded at C$42.20, with a volume of 424,467 shares changing hands.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. TD Securities decreased their price objective on shares of Torex Gold Resources from C$64.00 to C$62.00 and set a "buy" rating for the company in a report on Friday, August 8th. Royal Bank Of Canada lifted their price target on shares of Torex Gold Resources from C$60.00 to C$65.00 in a research note on Thursday, June 12th. National Bankshares set a C$70.00 price target on shares of Torex Gold Resources and gave the company an "outperform" rating in a research note on Thursday, June 5th. BMO Capital Markets lifted their price target on shares of Torex Gold Resources from C$44.00 to C$56.00 in a research note on Friday, May 2nd. Finally, Scotiabank lifted their price target on shares of Torex Gold Resources from C$48.00 to C$50.00 and gave the company an "outperform" rating in a research note on Wednesday, June 4th. Two analysts have rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of C$59.89.

Torex Gold Resources Stock Performance

The stock's 50-day moving average price is C$42.81 and its 200 day moving average price is C$40.78. The company has a debt-to-equity ratio of 8.09, a current ratio of 1.00 and a quick ratio of 2.12. The firm has a market cap of C$2.59 billion, a P/E ratio of 22.97, a price-to-earnings-growth ratio of 0.02 and a beta of 1.34.

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.