Torex Gold Resources (TSE:TXG) Stock Crosses Above 200 Day Moving Average of $17.20

Torex Gold Resources Inc. (TSE:TXG) shares crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$17.20 and traded as high as C$20.69. Torex Gold Resources shares last traded at C$20.53, with a volume of 219,499 shares traded.

Wall Street Analyst Weigh In

A number of research firms have weighed in on TXG. Scotiabank raised their price target on Torex Gold Resources from C$23.00 to C$25.00 in a research note on Thursday, May 23rd. National Bankshares raised their target price on shares of Torex Gold Resources from C$27.00 to C$27.50 and gave the company a “sector perform” rating in a research note on Monday, June 10th. Raymond James set a C$27.00 price target on shares of Torex Gold Resources and gave the stock an “outperform” rating in a research report on Friday, June 7th. CIBC lifted their price objective on shares of Torex Gold Resources from C$21.00 to C$23.00 in a research report on Monday, April 15th. Finally, Canaccord Genuity Group boosted their price objective on shares of Torex Gold Resources from C$26.25 to C$28.50 in a research note on Tuesday, April 23rd. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of C$25.75.

Torex Gold Resources Stock Performance

The stock has a market capitalization of C$1.81 billion, a price-to-earnings ratio of 7.39, a P/E/G ratio of 0.02 and a beta of 1.33. The company’s fifty day simple moving average is C$20.41 and its 200 day simple moving average is C$17.23. The company has a quick ratio of 2.12, a current ratio of 1.07 and a debt-to-equity ratio of 2.86.

Torex Gold Resources (TSE:TXG) last announced its earnings results on Wednesday, May 8th. The company reported C$0.57 EPS for the quarter, topping the consensus estimate of C$0.52 by C$0.05. The business had revenue of C$318.84 million during the quarter. Torex Gold Resources had a net margin of 20.14% and a return on equity of 12.37%. On average, equities research analysts expect that Torex Gold Resources Inc. will post 2.5906363 earnings per share for the current year.

About Torex Gold Resources

Torex Gold Resources Inc operates as an intermediate gold producer in Mexico. It primarily holds a 100% interest in the Morelos Gold property, including Morelos Complex, which includes the El Limón Guajes Mine Complex; the Media Luna Project, a processing plant; and related infrastructure that covers an area of 29,000 hectares located southwest of Mexico City.