Torex Gold Resources (OTCMKTS:TORXF) Shares Down 6.9% – Time to Sell?

Torex Gold Resources Inc. (OTCMKTS:TORXF) dropped 6.9% during mid-day trading on Thursday. The stock traded as low as $48.28 and last traded at $48.42. Approximately 41,074 shares traded hands during mid-day trading, a decline of 16% from the average session volume of 49,182 shares. The stock had previously closed at $52.00.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on TORXF shares. BMO Capital Markets restated an “outperform” rating on shares of Torex Gold Resources in a research report on Wednesday, July 8th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Torex Gold Resources in a research note on Friday, October 16th. Finally, Scotiabank restated an “outperform” rating on shares of Torex Gold Resources in a report on Wednesday, July 8th. Three analysts have rated the stock with a Buy rating. According to MarketBeat, the stock presently has a consensus rating of “Buy”.

Torex Gold Resources Stock Down 0.9%

The firm’s fifty day moving average price is $49.86 and its 200-day moving average price is $45.27.

Torex Gold Resources Company Profile

Torex Gold Resources Inc is a Canada-based mining company focused on the exploration, development and operation of gold properties. Its principal asset is the wholly owned Morelos Gold Property in the state of Guerrero, Mexico, which includes the El Limón Guajes mining complex, a processing facility and the Media Luna project.

The company produces gold from a combination of open-pit and underground operations at the Morelos property. Its activities also include mineral exploration, mine development, processing and related infrastructure and environmental programs.