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Torex Gold Maintained at Outperform by National Bank of Canada

BY MT Newswires | ECONOMIC | 07/11/25 11:14 AM EDT

11:14 AM EDT, 07/11/2025 (MT Newswires) -- National Bank of Canada maintained its outperform rating on the shares of Torex Gold Resources (TORXF) and its $74.25 price target after the company reported second-quarter production results.

The bank said its investment thesis for Torex considers its elevated free cash flow after the startup at the Media Luna mine in Mexico, differentiated by 20% revenue from copper and brownfield upside, and exploration upside from large land package.

Torex on Thursday reported gold equivalent production of 82,900 ounces of gold equivalent in the second quarter, missing National Bank's forecast of 90,400 ounces.

Price: 43.63, Change: -0.12, Percent Change: -0.27

MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.

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