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

Torex Gold Resources Inc. (TSE:TXG)’s share price passed above its 200-day moving average during trading on Friday. The stock has a 200-day moving average of C$63.16 and traded as high as C$67.95. Torex Gold Resources shares last traded at C$67.14, with a volume of 363,302 shares traded.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Canadian Imperial Bank of Commerce reduced their price objective on shares of Torex Gold Resources from C$100.00 to C$90.00 in a research note on Friday, August 7th. Scotiabank lowered their target price on shares of Torex Gold Resources from C$105.00 to C$95.00 in a research note on Friday, August 7th. National Bank Financial lifted their price target on shares of Torex Gold Resources from C$85.00 to C$89.00 and gave the stock an “outperform” rating in a report on Monday, September 21st. Finally, ATB Cormark Capital Markets raised Torex Gold Resources from a “hold” rating to a “moderate buy” rating in a research report on Monday, September 28th. Two equities research analysts have rated the stock with a Buy rating. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of C$92.80.

Torex Gold Resources Stock Down 1.1%

The company has a 50-day moving average of C$69.77 and a 200-day moving average of C$63.16. The company has a market capitalization of C$6.22 billion, a price-to-earnings ratio of 10.31, a price-to-earnings-growth ratio of 0.02 and a beta of 1.80. The company has a current ratio of 1.38, a quick ratio of 2.12 and a debt-to-equity ratio of 3.86.

Torex Gold Resources (TSE:TXG) last issued its quarterly earnings results on Thursday, August 6th. The company reported C$1.28 earnings per share 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, equities analysts predict that Torex Gold Resources Inc. will post 3.63 earnings per share for the current fiscal year.

Torex Gold Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 4th. Shareholders of record on Friday, September 4th were given a dividend of $0.16 per share. The ex-dividend date of this dividend was Friday, August 21st. This represents a $0.64 dividend on an annualized basis and a yield of 1.0%. Torex Gold Resources’s dividend payout ratio (DPR) 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.