Torex Gold Resources (OTCMKTS:TORXF) Stock Price Up 3.2% – Time to Buy?

Torex Gold Resources Inc. (OTCMKTS:TORXF)’s stock price shot up 3.2% during trading on Thursday . The company traded as high as $50.65 and last traded at $50.38. Approximately 13,750 shares were traded during trading, a decline of 74% from the average daily volume of 52,831 shares. The stock had previously closed at $48.8325.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on TORXF shares. BMO Capital Markets reiterated an “outperform” rating on shares of Torex Gold Resources in a research report on Wednesday, July 8th. Scotiabank reissued an “outperform” rating on shares of Torex Gold Resources in a research report on Wednesday, July 8th. Four investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, Torex Gold Resources currently has a consensus rating of “Buy”.

Torex Gold Resources Price Performance

The company has a 50 day moving average of $41.24 and a 200 day moving average of $44.71.

Torex Gold Resources Company Profile

Torex Gold Resources Inc is a Canada-based intermediate gold producer, developer and explorer that trades on the OTC Markets under the symbol TORXF. The company’s core business centers on the exploration, development and mining of gold deposits, with a focus on delivering sustainable production and growth through its flagship assets in Mexico.

The company’s principal operation is the Morelos Gold Project, located in the Guerrero Gold Belt of central Mexico. This integrated mining, processing and ancillary infrastructure complex includes the El Limón Guajes open pit mining area and supporting underground development.