Torex Gold Resources Inc. (OTCMKTS:TORXF) Short Interest Up 23.4% in August

Torex Gold Resources Inc. (OTCMKTS:TORXF) saw a significant growth in short interest in the month of 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 trading volume of 52,200 shares, the short-interest ratio is presently 11.4 days.

OTCMKTS:TORXF opened at $10.28 on Tuesday. Torex Gold Resources has a 12-month low of $9.65 and a 12-month high of $17.27. The firm has a 50-day moving average price of $10.77 and a 200 day moving average price of $12.39.

TORXF has been the subject of a number of research analyst reports. CIBC reaffirmed a “hold” rating and set a $23.00 price objective on shares of Torex Gold Resources in a research report on Friday, July 9th. Scotiabank cut their price objective on shares of Torex Gold Resources from C$24.00 to C$22.00 and set an “outperform” rating for the company in a research report on Thursday, June 17th. Canaccord Genuity reaffirmed a “hold” rating on shares of Torex Gold Resources in a research report on Monday, May 24th. Finally, BMO Capital Markets cut their price objective on shares of Torex Gold Resources from C$27.00 to C$26.00 and set an “outperform” rating for the company in a research report on Friday, July 9th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average 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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