Torex Gold Resources (TSE:TXG) Share Price Passes Above 200-Day Moving Average – Here’s Why

Torex Gold Resources Inc. (TSE:TXG)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-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 changing hands.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. CIBC lifted their target price on Torex Gold Resources from C$36.00 to C$42.00 in a report on Friday, February 21st. Royal Bank of Canada lifted their target price on Torex Gold Resources from C$34.00 to C$37.00 in a report on Friday, December 6th. BMO Capital Markets lifted their target price on Torex Gold Resources from C$36.00 to C$38.00 in a report on Thursday, February 20th. Raymond James raised their price objective on Torex Gold Resources from C$33.00 to C$34.00 in a research report on Tuesday, January 7th. Finally, Scotiabank raised their price objective on Torex Gold Resources from C$33.00 to C$37.00 in a research report on Thursday, November 21st. Four 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 presently has a consensus rating of “Buy” and a consensus price target of C$36.53.

Torex Gold Resources Stock Performance

The firm has a market capitalization of C$2.13 billion, a PE ratio of 18.88, a price-to-earnings-growth ratio of 0.02 and a beta of 1.34. The company has a debt-to-equity ratio of 8.09, a current ratio of 1.00 and a quick ratio of 2.12. The stock has a 50-day moving average price of C$31.25 and a 200-day moving average price of C$29.05.

Insider Transactions at Torex Gold Resources

In related 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 value of C$162,898.31. Also, Director Caroline Donally acquired 1,000 shares of the stock in a transaction that occurred on Monday, January 20th. The stock was purchased at an average cost 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.

Torex Gold Resources Company Profile

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.