Torex Gold Resources (TSE:TXG) Stock Breaks Above Two Hundred Day Moving Average – Should You Sell?

Shares of Torex Gold Resources Inc. (TSE:TXG) crossed above its two hundred day moving average during trading on Monday. The stock has a two hundred day moving average of C$64.76 and traded as high as C$66.27. Torex Gold Resources shares last traded at C$65.29, with a volume of 314,994 shares changing hands.

Analyst Ratings Changes

A number of brokerages recently weighed in on TXG. Canadian Imperial Bank of Commerce decreased their price target on shares of Torex Gold Resources from C$100.00 to C$90.00 in a research note on Friday, August 7th. Scotiabank reduced their price objective on shares of Torex Gold Resources from C$105.00 to C$95.00 in a research note on Friday, August 7th. ATB Cormark Capital Markets raised shares of Torex Gold Resources from a “hold” rating to a “moderate buy” rating in a report on Monday, September 28th. Finally, National Bank Financial boosted their price target on shares of Torex Gold Resources from C$85.00 to C$89.00 and gave the company an “outperform” rating in a report on Monday, September 21st. Two research analysts have rated the stock with a Buy rating. Based on data from MarketBeat.com, Torex Gold Resources presently has an average rating of “Buy” and an average price target of C$92.80.

Torex Gold Resources Trading Down 2.5%

The company’s 50 day moving average price is C$69.44 and its two-hundred day moving average price is C$64.70. The company has a quick ratio of 2.12, a current ratio of 1.38 and a debt-to-equity ratio of 3.86. The firm has a market cap of C$5.89 billion, a PE ratio of 9.78, a P/E/G ratio of 0.02 and a beta of 1.80.

Torex Gold Resources (TSE:TXG) last posted its quarterly earnings data on Wednesday, November 4th. The company reported C$2.75 earnings per share for the quarter. Torex Gold Resources had a return on equity of 25.62% and a net margin of 33.02%. The firm had revenue of C$790.11 million during the quarter. As a group, sell-side analysts forecast that Torex Gold Resources Inc. will post 3.63 EPS for the current year.

Torex Gold Resources Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 4th. Shareholders of record on Friday, September 4th were given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.0%. The ex-dividend date was Friday, August 21st. Torex Gold Resources’s payout ratio is presently 5.12%.

About Torex Gold Resources

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.