Torex Gold Resources (TSE:TXG) Share Price Passes Above Two Hundred Day Moving Average – Time to Sell?

Shares of Torex Gold Resources Inc. (TSE:TXG) crossed 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 traded.

Wall Street Analysts Forecast Growth

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

Torex Gold Resources Trading Up 3.0 %

The business has a fifty day simple moving average of C$31.25 and a 200 day simple moving average of C$29.05. The stock has a market cap of C$2.13 billion, a price-to-earnings ratio of 18.88, a PEG ratio of 0.02 and a beta of 1.34. The company has a debt-to-equity ratio of 8.09, a quick ratio of 2.12 and a current ratio of 1.00.

Insider Buying and Selling at Torex Gold Resources

In other news, Senior Officer Faysal Abhem Rodriguez Valenzuela sold 5,623 shares of the firm’s stock in a transaction on 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 firm’s stock in a transaction dated Monday, January 20th. The shares were acquired at an average price of C$27.91 per share, for a total transaction of C$27,908.00. 0.35% of the stock is owned by insiders.

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.