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Torex Gold Resources (TSE:TXG) Shares Cross Above 200 Day Moving Average - What's Next?

Torex Gold Resources logo with Basic Materials background

Torex Gold Resources Inc. (TSE:TXG - Get Free Report) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$25.08 and traded as high as C$27.49. Torex Gold Resources shares last traded at C$27.12, with a volume of 267,492 shares changing hands.

Analyst Upgrades and Downgrades

TXG has been the subject of several research reports. National Bank Financial upgraded shares of Torex Gold Resources from a "hold" rating to a "strong-buy" rating in a report on Wednesday, October 9th. CIBC lifted their target price on shares of Torex Gold Resources from C$33.00 to C$34.50 in a research note on Monday, December 2nd. BMO Capital Markets boosted their price target on shares of Torex Gold Resources from C$29.00 to C$30.00 and gave the company an "outperform" rating in a report on Tuesday, September 10th. National Bankshares upgraded Torex Gold Resources from a "sector perform" rating to an "outperform" rating and increased their price objective for the stock from C$31.25 to C$37.75 in a report on Thursday, October 10th. Finally, Cormark boosted their target price on Torex Gold Resources from C$30.00 to C$33.00 in a research note on Friday, September 6th. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of C$34.03.

View Our Latest Report on TXG

Torex Gold Resources Stock Performance

The company has a debt-to-equity ratio of 7.32, a quick ratio of 2.12 and a current ratio of 1.09. The firm has a market cap of C$2.33 billion, a price-to-earnings ratio of 16.34, a price-to-earnings-growth ratio of 0.02 and a beta of 1.34. The firm's 50 day moving average is C$29.11 and its 200-day moving average is C$25.12.

Torex Gold Resources (TSE:TXG - Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The company reported C$1.02 earnings per share (EPS) for the quarter, topping 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 company had revenue of C$427.96 million during the quarter. Sell-side analysts anticipate that Torex Gold Resources Inc. will post 3.6254502 earnings per share for the current fiscal year.

About Torex Gold Resources

(Get Free Report)

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.

Further Reading

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