Torex Gold Resources (OTCMKTS:TORXF) Stock Falls 6.9% – What’s Next?

Shares of Torex Gold Resources Inc. (OTCMKTS:TORXF) were down 6.9% on Thursday. The company 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.

Analyst Ratings Changes

A number of brokerages recently commented on TORXF. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Torex Gold Resources in a report on Friday, October 16th. BMO Capital Markets reiterated an “outperform” rating on shares of Torex Gold Resources in a report on Wednesday, July 8th. Finally, Scotiabank reiterated 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 data from MarketBeat, Torex Gold Resources currently has an average rating of “Buy”.

Torex Gold Resources Trading Down 6.9%

The company has a 50-day simple moving average of $49.82 and a two-hundred day simple moving average of $45.25.

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.