Torex Gold Resources Maintained at Outperform by BMO Following Morelos Restart; Price Target Kept at C$36.00

MT Newswires Live12-20

BMO Capital Markets on Thursday maintained its outperform rating on the shares of Torex Gold Resources (TXG.TO) with a C$36.00 price target after the company was allowed to restart operations at its Morelos property in Mexico.

"Torex announced the lifting of the temporary suspension of activity on the Morelos property, which had been in effect since December 9. All operations will resume and 2024 gold production guidance is maintained, with the company trending to the lower end of the 450-470koz range. Media Luna's project schedule remains intact, with the 4-week mill shutdown on track for February," analyst Kevin O'Halloran wrote.

(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)

Price: 28.56, Change: -0.49, Percent Change: -1.69

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