Torex Gold Resources (OTCMKTS:TORXF) Shares Down 1.6% – Should You Sell?

Torex Gold Resources Inc. (OTCMKTS:TORXF) shares dropped 1.6% during trading on Monday . The company traded as low as $46.22 and last traded at $47.94. Approximately 38,750 shares traded hands during trading, a decline of 47% from the average daily volume of 72,485 shares. The stock had previously closed at $48.72.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on TORXF. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Torex Gold Resources in a report on Wednesday, February 4th. Scotiabank reiterated an “outperform” rating on shares of Torex Gold Resources in a report on Monday, January 26th. Seven analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has an average rating of “Buy”.

Torex Gold Resources Stock Performance

The company’s 50-day simple moving average is $51.53 and its 200 day simple moving average is $46.41.

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.