Torex Gold Resources (TSE:TXG) Stock Price Passes Above 200 Day Moving Average – Should You Sell?

Shares of Torex Gold Resources Inc. (TSE:TXG) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$26.90 and traded as high as C$31.65. Torex Gold Resources shares last traded at C$30.83, with a volume of 220,038 shares traded.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. CIBC raised their price target on Torex Gold Resources from C$33.00 to C$34.50 in a research note on Monday, December 2nd. National Bankshares upgraded shares of Torex Gold Resources from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from C$31.25 to C$37.75 in a research note on Thursday, October 10th. National Bank Financial raised shares of Torex Gold Resources from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 9th. Scotiabank increased their target price on Torex Gold Resources from C$33.00 to C$37.00 in a research report on Thursday, November 21st. Finally, Royal Bank of Canada boosted their price target on Torex Gold Resources from C$34.00 to C$37.00 in a research report on Friday, December 6th. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Torex Gold Resources currently has an average rating of “Buy” and an average target price of C$34.81.

Torex Gold Resources Price Performance

The stock’s 50 day simple moving average is C$28.85 and its 200-day simple moving average is C$26.90. The firm has a market cap of C$2.65 billion, a price-to-earnings ratio of 18.57, a price-to-earnings-growth ratio of 0.02 and a beta of 1.34. The company has a debt-to-equity ratio of 7.32, a quick ratio of 2.12 and a current ratio of 1.09.

Torex Gold Resources (TSE:TXG) last released its earnings results on Wednesday, November 6th. The company reported C$1.02 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.82 by C$0.20. Torex Gold Resources had a return on equity of 7.12% and a net margin of 11.16%. The firm had revenue of C$427.96 million for the quarter. Equities research analysts anticipate that Torex Gold Resources Inc. will post 3.6254502 EPS for the current fiscal year.

Insider Transactions at Torex Gold Resources

In other news, Senior Officer Faysal Abhem Rodriguez Valenzuela sold 5,623 shares of the company’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of C$28.97, for a total value of C$162,898.31. Also, Director Caroline Donally bought 1,000 shares of the company’s stock in a transaction that occurred on Monday, January 20th. The shares were bought at an average cost of C$27.91 per share, for a total transaction of C$27,908.00. Insiders bought a total of 2,000 shares of company stock worth $55,927 over the last three months. 0.35% of the stock is currently owned by insiders.

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.