Torex Gold Resources (TSE:TXG) Stock Passes Above 200 Day Moving Average – Here’s What Happened

Torex Gold Resources Inc. (TSE:TXG)’s stock price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$37.41 and traded as high as C$43.92. Torex Gold Resources shares last traded at C$43.92, with a volume of 145,234 shares trading hands.

Analyst Upgrades and Downgrades

TXG has been the subject of several research analyst reports. Royal Bank Of Canada lifted their price objective on Torex Gold Resources from C$60.00 to C$65.00 in a research note on Thursday, June 12th. CIBC raised Torex Gold Resources from a “neutral” rating to an “outperform” rating and boosted their target price for the company from C$42.00 to C$58.00 in a research note on Monday, April 14th. National Bankshares set a C$70.00 target price on Torex Gold Resources and gave the company an “outperform” rating in a research note on Thursday, June 5th. Raymond James Financial upped their price target on Torex Gold Resources from C$34.00 to C$47.00 in a research report on Friday, April 4th. Finally, Cibc World Mkts raised Torex Gold Resources from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 14th. Six research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of C$55.00.

Torex Gold Resources Trading Up 1.7%

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 company has a market cap of C$2.66 billion, a P/E ratio of 23.61, a price-to-earnings-growth ratio of 0.02 and a beta of 1.34. The stock has a 50-day moving average of C$44.40 and a two-hundred day moving average of C$37.41.

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.