Torex Gold Resources (OTCMKTS:TORXF) Shares Down 6.9% – What’s Next?

Torex Gold Resources Inc. (OTCMKTS:TORXF) dropped 6.9% during mid-day trading on Thursday. The stock traded as low as $48.28 and last traded at $48.42. 41,074 shares traded hands during trading, a decline of 16% from the average session volume of 49,182 shares. The stock had previously closed at $52.00.

Analyst Ratings Changes

A number of brokerages have recently issued reports on TORXF. Scotiabank reaffirmed an “outperform” rating on shares of Torex Gold Resources in a research note on Wednesday, July 8th. BMO Capital Markets reissued an “outperform” rating on shares of Torex Gold Resources in a research note on Wednesday, July 8th. Finally, Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Torex Gold Resources in a research note on Friday, October 16th. Three investment analysts have rated the stock with a Buy rating. Based on data from MarketBeat, Torex Gold Resources has an average rating of “Buy”.

Torex Gold Resources Price Performance

The business’s fifty day simple moving average is $49.82 and its 200-day simple moving average is $45.25.

About Torex Gold Resources

Torex Gold Resources Inc is a Canada-based mining company focused on the exploration, development and operation of gold properties. Its principal asset is the wholly owned Morelos Gold Property in the state of Guerrero, Mexico, which includes the El Limón Guajes mining complex, a processing facility and the Media Luna project.

The company produces gold from a combination of open-pit and underground operations at the Morelos property. Its activities also include mineral exploration, mine development, processing and related infrastructure and environmental programs.