In a report released today, Kevin O’Halloran from BMO Capital maintained a Buy rating on Torex Gold Resources (TORXF – Research Report), with a price target of C$44.00.
Kevin O’Halloran has given his Buy rating due to a combination of factors including Torex Gold Resources’ strong production performance and future growth potential. The company met its Q1 production expectations despite a planned shutdown, and is on track to ramp up to commercial production at the Media Luna project. This indicates a promising outlook for increased production rates throughout the year.
Additionally, Torex’s operations at the El Limon-Guajes site in Mexico are generating immediate cash flow, which is a positive indicator for investors. The management team is recognized for its consistent delivery, and there is potential for the stock to appreciate as the value of the Media Luna project is realized. These factors contribute to the positive outlook and the Buy rating assigned to Torex Gold Resources.
In another report released on April 4, Raymond James also maintained a Buy rating on the stock with a C$47.00 price target.