Torex Gold Resources (TSE:TXG) Stock Crosses Above 200-Day Moving Average – Here’s What Happened

Torex Gold Resources Inc. (TSE:TXG) shares passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$28.99 and traded as high as C$34.50. Torex Gold Resources shares last traded at C$34.11, with a volume of 306,050 shares traded.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on TXG. CIBC lifted their price target on Torex Gold Resources from C$36.00 to C$42.00 in a research report on Friday, February 21st. Royal Bank of Canada lifted their price target on Torex Gold Resources from C$34.00 to C$37.00 in a research report on Friday, December 6th. Scotiabank boosted their target price on Torex Gold Resources from C$33.00 to C$37.00 in a research report on Thursday, November 21st. BMO Capital Markets boosted their target price on Torex Gold Resources from C$36.00 to C$38.00 in a research report on Thursday, February 20th. Finally, Raymond James boosted their target price on Torex Gold Resources from C$33.00 to C$34.00 in a research report on Tuesday, January 7th. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Torex Gold Resources currently has a consensus rating of “Buy” and a consensus price target of C$36.53.

Torex Gold Resources Trading Up 2.8 %

The stock has a 50 day simple moving average of C$31.15 and a 200-day simple moving average of C$28.99. The firm has a market capitalization of C$2.07 billion, a P/E ratio of 18.34, a P/E/G ratio of 0.02 and a beta of 1.34. The company has a current ratio of 1.00, a quick ratio of 2.12 and a debt-to-equity ratio of 8.09.

Insider Buying and Selling at Torex Gold Resources

In other Torex Gold Resources news, Senior Officer Faysal Abhem Rodriguez Valenzuela sold 5,623 shares of the business’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of C$28.97, for a total transaction of C$162,898.31. Also, Director Caroline Donally acquired 1,000 shares of the business’s stock in a transaction that occurred on Monday, January 20th. The shares were bought at an average price of C$27.91 per share, with a total value of C$27,908.00. Corporate insiders own 0.35% of the company’s stock.

About Torex Gold Resources

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.