Torex Gold Resources (OTCMKTS:TORXF) Stock Price Down 5.3% – Here’s Why

Torex Gold Resources Inc. (OTCMKTS:TORXF) shares were down 5.3% during mid-day trading on Tuesday . The company traded as low as $41.3520 and last traded at $42.41. Approximately 30,027 shares changed hands during trading, a decline of 53% from the average daily volume of 63,646 shares. The stock had previously closed at $44.76.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on TORXF. Scotiabank reiterated an “outperform” rating on shares of Torex Gold Resources in a report on Monday, January 26th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Torex Gold Resources in a research report on Wednesday, February 4th. Seven research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy”.

Torex Gold Resources Stock Down 5.3%

The stock’s 50 day moving average is $49.69 and its two-hundred day moving average is $43.29.

Torex Gold Resources Company Profile

Torex Gold Resources Inc is a Canada-based intermediate gold producer, developer and explorer that trades on the OTC Markets under the symbol TORXF. The company’s core business centers on the exploration, development and mining of gold deposits, with a focus on delivering sustainable production and growth through its flagship assets in Mexico.

The company’s principal operation is the Morelos Gold Project, located in the Guerrero Gold Belt of central Mexico. This integrated mining, processing and ancillary infrastructure complex includes the El Limón Guajes open pit mining area and supporting underground development.