Torex Gold Resources (TSE:TXG) Share Price Crosses Above Two Hundred Day Moving Average – Should You Sell?

Torex Gold Resources Inc. (TSE:TXG) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$62.21 and traded as high as C$68.36. Torex Gold Resources shares last traded at C$67.75, with a volume of 323,904 shares changing hands.

Analysts Set New Price Targets

TXG has been the subject of a number of recent research reports. National Bank Financial dropped their price objective on shares of Torex Gold Resources from C$89.00 to C$85.00 and set an “outperform” rating for the company in a research note on Monday, August 10th. Canadian Imperial Bank of Commerce reduced their target price on Torex Gold Resources from C$100.00 to C$90.00 in a research note on Friday, August 7th. ATB Cormark Capital Markets cut Torex Gold Resources from a “moderate buy” rating to a “hold” rating in a report on Monday, August 10th. Finally, Scotiabank dropped their price target on Torex Gold Resources from C$105.00 to C$95.00 in a research report on Friday, August 7th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$89.50.

Torex Gold Resources Stock Up 3.3%

The stock has a market cap of C$6.27 billion, a price-to-earnings ratio of 10.40, a P/E/G ratio of 0.02 and a beta of 1.96. The company has a current ratio of 1.38, a quick ratio of 2.12 and a debt-to-equity ratio of 3.86. The firm’s 50 day moving average is C$59.55 and its two-hundred day moving average is C$62.21.

Torex Gold Resources (TSE:TXG) last released its quarterly earnings results on Thursday, August 6th. The company reported C$1.28 earnings per share (EPS) for the quarter. The company had revenue of C$578.12 million for the quarter. Torex Gold Resources had a net margin of 33.02% and a return on equity of 25.62%. On average, sell-side analysts predict that Torex Gold Resources Inc. will post 3.6254502 EPS for the current year.

Torex Gold Resources Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 4th. Investors of record on Friday, September 4th will be given a dividend of $0.16 per share. The ex-dividend date is Friday, August 21st. This represents a $0.64 dividend on an annualized basis and a yield of 0.9%. Torex Gold Resources’s dividend payout ratio (DPR) is 5.12%.

Torex Gold Resources Company Profile

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.