Torex Gold Resources Inc. (OTCMKTS:TORXF) Sees Large Growth in Short Interest

Torex Gold Resources Inc. (OTCMKTS:TORXF) was the recipient of a significant growth in short interest in August. As of August 31st, there was short interest totalling 597,500 shares, a growth of 23.4% from the August 15th total of 484,200 shares. Based on an average daily volume of 52,200 shares, the short-interest ratio is presently 11.4 days.

Shares of Torex Gold Resources stock opened at $10.28 on Tuesday. Torex Gold Resources has a 1-year low of $9.65 and a 1-year high of $17.27. The firm’s 50-day moving average price is $10.77 and its two-hundred day moving average price is $12.39.

Several research analysts recently issued reports on TORXF shares. Canaccord Genuity reissued a “hold” rating on shares of Torex Gold Resources in a research report on Monday, May 24th. CIBC reissued a “hold” rating and issued a $23.00 price target on shares of Torex Gold Resources in a research report on Friday, July 9th. Scotiabank decreased their price objective on shares of Torex Gold Resources from C$24.00 to C$22.00 and set an “outperform” rating on the stock in a research note on Thursday, June 17th. Finally, BMO Capital Markets decreased their price objective on shares of Torex Gold Resources from C$27.00 to C$26.00 and set an “outperform” rating on the stock in a research note on Friday, July 9th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $27.00.

About Torex Gold Resources

Torex Gold Resources, Inc is a Canadian based resource company, which engages in the exploration and development of precious metal resources with a focus on gold. It holds interest in Morelos gold project. The company was founded on November 13, 1980 and is headquartered in Toronto, Canada.

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