Torex Gold Resources (TSE:TXG) Share Price Passes Above 200-Day Moving Average of $17.46

Torex Gold Resources Inc. (TSE:TXG)’s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$17.46 and traded as high as C$21.05. Torex Gold Resources shares last traded at C$20.64, with a volume of 200,100 shares.

Analysts Set New Price Targets

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

Torex Gold Resources Price Performance

The stock’s 50-day moving average is C$20.55 and its 200 day moving average is C$17.46. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.07 and a quick ratio of 2.12. The company has a market cap of C$1.77 billion, a PE ratio of 7.40, a PEG ratio of 0.02 and a beta of 1.33.

Torex Gold Resources (TSE:TXG) last posted its quarterly earnings data 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. Torex Gold Resources had a net margin of 20.14% and a return on equity of 12.37%. The business had revenue of C$318.84 million during the quarter. On average, equities analysts anticipate that Torex Gold Resources Inc. will post 2.5906363 earnings per share for the current fiscal year.

Torex Gold Resources Company Profile

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.