Torex Gold Resources (OTCMKTS:TORXF) Shares Cross Below 200-Day Moving Average – Here’s What Happened

Torex Gold Resources Inc. (OTCMKTS:TORXF) crossed below its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of $46.67 and traded as low as $44.50. Torex Gold Resources shares last traded at $45.20, with a volume of 22,890 shares.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Scotiabank restated an “outperform” rating on shares of Torex Gold Resources in a research note on Wednesday, July 8th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Torex Gold Resources in a report on Wednesday, July 8th. Finally, Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Torex Gold Resources in a research report on Friday, October 16th. Three research analysts have rated the stock with a Buy rating. According to data from MarketBeat.com, Torex Gold Resources currently has an average rating of “Buy”.

Torex Gold Resources Stock Performance

The company’s 50 day moving average price is $49.82 and its 200-day moving average price is $46.67.

Torex Gold Resources Company Profile

Torex Gold Resources Inc is a Canada-based gold mining company focused on the acquisition, exploration, development and operation of gold properties. Its principal asset is the Morelos Gold Property in the state of Guerrero, Mexico, one of the country’s significant gold-producing regions.

The Morelos complex includes the ELG Mining Complex, which incorporates the El Limón Guajes open-pit and underground mining operations, as well as the Morelos processing plant. Torex also owns and operates the Media Luna underground mine, located across the Balsas River from the ELG complex.