Torex Gold Resources (OTCMKTS:TORXF) Shares Down 6.5% – Here’s Why

Torex Gold Resources Inc. (OTCMKTS:TORXF) shares fell 6.5% during mid-day trading on Monday . The stock traded as low as $47.6660 and last traded at $48.00. 35,354 shares changed hands during mid-day trading, a decline of 14% from the average session volume of 41,014 shares. The stock had previously closed at $51.32.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on TORXF. Raymond James Financial reaffirmed an “outperform” rating on shares of Torex Gold Resources in a research report on Friday, October 10th. BMO Capital Markets restated an “outperform” rating on shares of Torex Gold Resources in a research note on Wednesday, October 8th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Torex Gold Resources in a research report on Thursday, October 23rd. Seven analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Torex Gold Resources has a consensus rating of “Buy”.

Torex Gold Resources Stock Down 6.5%

The company has a fifty day moving average price of $44.89 and a two-hundred day moving average price of $38.60.

About Torex Gold Resources

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.