Torex Gold Resources (TSE:TXG) Shares Pass Above 200-Day Moving Average – Time to Sell?

Torex Gold Resources Inc. (TSE:TXG)’s share price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$62.40 and traded as high as C$68.94. Torex Gold Resources shares last traded at C$65.93, with a volume of 483,018 shares trading hands.

Wall Street Analyst Weigh In

TXG has been the topic of several recent analyst reports. Scotiabank decreased their price objective on shares of Torex Gold Resources from C$105.00 to C$95.00 in a report on Friday, August 7th. Canadian Imperial Bank of Commerce reduced their price objective on shares of Torex Gold Resources from C$100.00 to C$90.00 in a research report on Friday, August 7th. National Bank Financial lowered their target price on shares of Torex Gold Resources from C$89.00 to C$85.00 and set an “outperform” rating for the company in a report on Monday, August 10th. Finally, ATB Cormark Capital Markets downgraded shares of Torex Gold Resources from a “moderate buy” rating to a “hold” rating in a research report on Monday, August 10th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Torex Gold Resources presently has an average rating of “Moderate Buy” and an average price target of C$89.50.

Torex Gold Resources Stock Performance

The company has a market capitalization of C$6.37 billion, a PE ratio of 10.57, a PEG ratio of 0.02 and a beta of 1.96. The company has a quick ratio of 2.12, a current ratio of 1.38 and a debt-to-equity ratio of 3.86. The stock’s fifty day simple moving average is C$62.35 and its 200-day simple moving average is C$62.29.

Torex Gold Resources (TSE:TXG) last announced its quarterly earnings data on Thursday, August 6th. The company reported C$1.28 earnings per share (EPS) for the quarter. The business had revenue of C$578.12 million for the quarter. Torex Gold Resources had a net margin of 33.02% and a return on equity of 25.62%. On average, research analysts predict that Torex Gold Resources Inc. will post 3.6254502 earnings per share for the current fiscal year.

Torex Gold Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 4th. Investors of record on Friday, September 4th were given a dividend of $0.16 per share. The ex-dividend date was Friday, August 21st. This represents a $0.64 dividend on an annualized basis and a yield of 0.9%. Torex Gold Resources’s payout ratio is currently 5.12%.

Torex Gold Resources Company Profile

Torex Gold Resources Inc is a Canadian mining company engaged in the exploration, development, and production of gold, copper, and silver from its flagship Morelos Complex in Guerrero, which is currently Mexico’s largest single gold producer.