Torex Gold Resources (TSE:TXG)
TSX:TXG
Earnings Data
Report Date
May 13, 2026TBA (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
2.2Last Year’s EPS
0.57Same Quarter Last Year
Strong Buy
Based on 6 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented a strong operational and financial performance: Media Luna ramped up ahead of plan, recoveries and throughput met or exceeded design levels, record margins and substantial free cash flow enabled full debt repayment and shareholder returns. Major positives include robust 2026 production guidance, a sizable exploration and development program, and excellent safety metrics. Challenges noted include security-related risks at Los Reyes (which could delay the pre-feasibility study if access is restricted), higher taxes/royalties and paste plant catch-up costs adding near-term expense, and an increase in Media Luna North CapEx versus prior estimates. Overall, the positive operational momentum, debt-free balance sheet and large free cash flow outlook significantly outweigh the identified execution and timing risks.Company Guidance
Media Luna Ramp-Up Ahead of Plan
Commercial production achieved at Media Luna in May 2025; exited 2025 at ~7,000 tpd versus targeted 6,500 tpd (≈+7.7%); on track to reach design 7,500 tpd by mid-2026 — roughly 6 months ahead of feasibility study schedule. Final rock breaker, waste pass and waste conveyor commissioned.
Record Margins and Strong Recoveries
Record annual all-in sustaining cost margin of 51% for 2025 and record quarterly margin of 57% in Q4 2025. Metallurgical recoveries reached design levels with gold ~90% and copper ~92%; silver ramping toward 85%.
Material Free Cash Flow and Debt Elimination
Q4 2025 free cash flow of $166 million (record quarter). Adjusted EBITDA for 2025 of $730 million. Company fully repaid remaining debt in January 2026 and is debt-free; year-end liquidity $426 million (including $120 million cash) and access to $350 million credit facility plus $200 million accordion.
Strong 2026 Production Guidance
2026 gold equivalent production guidance of 420,000–470,000 oz vs 383,000 oz in 2025 — an increase of approximately +9.6% to +22.7% (midpoint ≈+16.2%). Guidance driven by full-year plant production and steady-state Media Luna mining rates.
Robust Exploration and Development Program
Record 2026 exploration budget of $77 million (≈$43M at Morelos with ~113,000 meters of drilling). Media Luna North underground development ~40% complete; procurement ~30% ordered (including long-lead items); first production expected Q4 2026. Los Reyes PEA on track for mid-2026.
Capital Allocation and Return of Capital
Returned ~$44 million to shareholders in H2 2025 via dividends and buybacks; declared a second quarterly dividend of $0.15/share. Continued NCIB activity in 2026: >400,000 shares repurchased YTD at avg ~$67. Company outlining returns to shareholders while preserving cash balance target (maintain min $200M).
Operational Throughput and Mill Performance
Mill throughput consistently above design in H2 2025 (despite scheduled maintenance); current integrated mill feed plan targets ~10,800 tpd mill consumption with upside potential to ~13,000 tpd through incremental flotation capacity expansion.
Outstanding Safety Performance
Lost time injury frequency of 0.07 per million hours worked (employees and contractors) versus the most recently reported Mexican mining industry average of 3.61 per million hours — ~98% lower than industry average, marking one of the safest years on record at Morelos.
TSE:TXG Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
TSE:TXG Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 18, 2026 | C$58.64 | C$64.83 | +10.57% |
Nov 05, 2025 | C$56.80 | C$59.99 | +5.61% |
Aug 06, 2025 | C$41.90 | C$41.50 | -0.95% |
May 07, 2025 | C$45.26 | C$44.26 | -2.20% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Torex Gold Resources (TSE:TXG) report earnings?
Torex Gold Resources (TSE:TXG) is schdueled to report earning on May 13, 2026, TBA (Confirmed).
What is Torex Gold Resources (TSE:TXG) earnings time?
Torex Gold Resources (TSE:TXG) earnings time is at May 13, 2026, TBA (Confirmed).
Where can I see when companies are reporting earnings?
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What is TSE:TXG EPS forecast?
TSE:TXG EPS forecast for the fiscal quarter 2026 (Q1) is 2.2.