Torex Gold posts record cash flow, clears debt as Media Luna drives transformational year

Torex Gold Resources ( (TSE:TXG) ) just unveiled an announcement.

Torex Gold Resources reported a transformational 2025, highlighted by the completion and early ramp-up of its Media Luna project to commercial production, strong operational performance at the Morelos property, and one of its safest years on record with a lost-time injury frequency of 0.07. The company also broadened its growth platform with the acquisitions of Prime Mining and Reyna Silver, positioning itself for a new phase of expansion in Northern Mexico and Nevada.

Financially, Torex delivered record annual revenue of about $1.3 billion and record adjusted EBITDA of $730 million, driven by higher metal prices and solid second-half production, including Q4 output of 114,844 gold equivalent ounces. Strong free cash flow, including a record $166 million in Q4, enabled the company to pay its inaugural dividend, repurchase over 825,000 shares, and fully repay debt used to fund Media Luna, leaving its balance sheet in strong shape heading into 2026 despite higher all-in sustaining costs.

Torex produced 376,364 gold equivalent ounces in 2025, slightly below guidance but sufficient, together with ongoing ramp-up at Media Luna and planned first production from Media Luna North in 2026, to underpin a production outlook of at least 420,000 to 470,000 gold equivalent ounces annually through 2030. Management expects operations at Morelos and continued project development, including a preliminary economic assessment at Los Reyes and leadership transition to a new CEO in June, to support further growth and value creation for stakeholders.

The most recent analyst rating on (TSE:TXG) stock is a Buy with a C$100.00 price target. To see the full list of analyst forecasts on Torex Gold Resources stock, see the TSE:TXG Stock Forecast page.

Spark’s Take on TSE:TXG Stock

According to Spark, TipRanks’ AI Analyst, TSE:TXG is a Outperform.

Torex Gold Resources is well-positioned with strong financial performance and positive technical indicators. The earnings call provided a positive outlook with strategic advancements and debt reduction. However, liquidity concerns due to declining free cash flow and increased costs slightly temper the overall score.

To see Spark’s full report on TSE:TXG stock, click here.

More about Torex Gold Resources

Torex Gold Resources Inc. is a Canadian gold producer focused on the Morelos property in Mexico, where it operates the El Limón Guajes underground mine and the Media Luna project. The company is expanding its asset base in North America through acquisitions in Northern Mexico and Nevada, aiming to build a multi-asset growth pipeline in gold and related metals.

Average Trading Volume: 612,681

Technical Sentiment Signal: Buy

Current Market Cap: C$5.84B

For an in-depth examination of TXG stock, go to TipRanks’ Overview page.