Analyst Kevin O’Halloran from BMO Capital reiterated a Buy rating on Torex Gold Resources (TORXF – Research Report) and increased the price target to C$38.00 from C$36.00.
Discover the Best Stocks and Maximize Your Portfolio:
- See what stocks are receiving strong buy ratings from top-rated analysts.
- Filter, analyze, and streamline your search for investment opportunities with TipRanks’ Stock Screener.
Kevin O’Halloran’s rating is based on Torex Gold Resources exceeding financial expectations in the fourth quarter, with its earnings per share and operating cash flow surpassing both BMO’s and consensus estimates. The company has demonstrated strong financial performance, with lower-than-expected all-in sustaining costs (AISC) for gold equivalent ounces and a solid cash flow from operations.
Furthermore, Torex Gold Resources is nearing the completion of its Media Luna project, which is anticipated to contribute positively to future cash flows, with expectations of a formalized capital return program by mid-year. The consistent achievement of production guidance and the anticipated first production from Media Luna by the end of March also contribute to the positive outlook. These factors, combined with the company’s strong management team and a history of operational success, suggest potential for the stock to appreciate in value as the new project unlocks additional value.
According to TipRanks, O’Halloran is a 5-star analyst with an average return of 24.7% and an 82.56% success rate. O’Halloran covers the Basic Materials sector, focusing on stocks such as Torex Gold Resources, Fortuna Silver Mines, and Endeavour Silver.
In another report released on February 11, National Bank also maintained a Buy rating on the stock with a C$43.00 price target.