Torex Gold Resources (TSE:TXG) Stock Price Passes Above 200 Day Moving Average – What’s Next?

Torex Gold Resources Inc. (TSE:TXG)’s stock price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$62.55 and traded as high as C$70.42. Torex Gold Resources shares last traded at C$68.84, with a volume of 393,902 shares trading hands.

Analysts Set New Price Targets

A number of research firms have issued reports on TXG. Canadian Imperial Bank of Commerce decreased their target price on Torex Gold Resources from C$100.00 to C$90.00 in a research report on Friday, August 7th. ATB Cormark Capital Markets cut shares of Torex Gold Resources from a “moderate buy” rating to a “hold” rating in a report on Monday, August 10th. Scotiabank reduced their price target on shares of Torex Gold Resources from C$105.00 to C$95.00 in a research note on Friday, August 7th. Finally, National Bank Financial decreased their price target on shares of Torex Gold Resources from C$89.00 to C$85.00 and set an “outperform” rating on the stock in a report on Monday, August 10th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of C$89.50.

Torex Gold Resources Price Performance

The firm has a market cap of C$6.33 billion, a P/E ratio of 10.49, a price-to-earnings-growth ratio of 0.02 and a beta of 1.96. The company has a current ratio of 1.38, a quick ratio of 2.12 and a debt-to-equity ratio of 3.86. The business has a 50-day moving average of C$61.15 and a two-hundred day moving average of C$62.59.

Torex Gold Resources (TSE:TXG) last issued its earnings results on Thursday, August 6th. The company reported C$1.28 earnings per share (EPS) for the quarter. The business had revenue of C$578.12 million during the quarter. Torex Gold Resources had a return on equity of 25.62% and a net margin of 33.02%. On average, sell-side analysts anticipate that Torex Gold Resources Inc. will post 3.6254502 earnings per share for the current fiscal year.

Torex Gold Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 4th. Stockholders of record on Friday, September 4th were paid a $0.16 dividend. The ex-dividend date of this dividend was Friday, August 21st. This represents a $0.64 annualized dividend and a dividend yield of 0.9%. Torex Gold Resources’s dividend payout ratio is currently 5.12%.

About Torex Gold Resources

Torex Gold Resources Inc is a Canadian mining company engaged in the exploration, development, and production of gold, copper, and silver from its flagship Morelos Complex in Guerrero, which is currently Mexico’s largest single gold producer.