Torex Gold Resources (OTCMKTS:TORXF) Shares Cross Below 200-Day Moving Average – Should You Sell?

Torex Gold Resources Inc. (OTCMKTS:TORXF) shares passed below its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $46.67 and traded as low as $44.50. Torex Gold Resources shares last traded at $45.20, with a volume of 22,890 shares trading hands.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. BMO Capital Markets reiterated an “outperform” rating on shares of Torex Gold Resources in a research report on Wednesday, July 8th. Scotiabank reissued an “outperform” rating on shares of Torex Gold Resources in a research report on Wednesday, July 8th. Finally, Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Torex Gold Resources in a research note on Friday, October 16th. Three research analysts have rated the stock with a Buy rating. According to MarketBeat, the stock currently has an average rating of “Buy”.

Torex Gold Resources Price Performance

The business’s 50-day moving average is $49.82 and its two-hundred day moving average is $46.67.

Torex Gold Resources Company Profile

Torex Gold Resources Inc is a Canada-based mining company focused on the exploration, development and operation of gold properties. Its principal asset is the wholly owned Morelos Gold Property in the state of Guerrero, Mexico, which includes the El Limón Guajes mining complex, a processing facility and the Media Luna project.

The company produces gold from a combination of open-pit and underground operations at the Morelos property. Its activities also include mineral exploration, mine development, processing and related infrastructure and environmental programs.