Torex Gold Resources (OTCMKTS:TORXF) Stock Price Up 1.7% – Here’s Why

Torex Gold Resources Inc. (OTCMKTS:TORXF) shares shot up 1.7% during trading on Friday . The stock traded as high as $59.00 and last traded at $58.38. 24,582 shares traded hands during mid-day trading, a decline of 62% from the average session volume of 64,239 shares. The stock had previously closed at $57.39.

Analyst Ratings Changes

Several brokerages have recently issued reports on TORXF. Scotiabank reaffirmed an “outperform” rating on shares of Torex Gold Resources in a research report on Thursday, October 23rd. BMO Capital Markets reaffirmed an “outperform” rating on shares of Torex Gold Resources in a report on Wednesday, October 8th. Finally, Raymond James Financial reiterated an “outperform” rating on shares of Torex Gold Resources in a report on Friday, October 10th. Seven research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy”.

Torex Gold Resources Stock Performance

The firm has a 50 day moving average of $48.21 and a 200-day moving average of $41.02.

About Torex Gold Resources

Torex Gold Resources Inc is a Canada-based intermediate gold producer, developer and explorer that trades on the OTC Markets under the symbol TORXF. The company’s core business centers on the exploration, development and mining of gold deposits, with a focus on delivering sustainable production and growth through its flagship assets in Mexico.

The company’s principal operation is the Morelos Gold Project, located in the Guerrero Gold Belt of central Mexico. This integrated mining, processing and ancillary infrastructure complex includes the El Limón Guajes open pit mining area and supporting underground development.