Torex Gold Resources Past Earnings Performance
Past criteria checks 6/6
Torex Gold Resources has been growing earnings at an average annual rate of 12.4%, while the Metals and Mining industry saw earnings growing at 21.4% annually. Revenues have been growing at an average rate of 9.7% per year. Torex Gold Resources's return on equity is 22.7%, and it has net margins of 34.1%.
Key information
12.43%
Earnings growth rate
11.53%
EPS growth rate
| Metals and Mining Industry Growth | 27.39% |
| Revenue growth rate | 9.71% |
| Return on equity | 22.70% |
| Net Margin | 34.15% |
| Last Earnings Update | 31 Mar 2026 |
Recent past performance updates
Recent updates
Narrative Update • Jun 25
TXG: Exploration And Project Delivery Will Drive Future Rerating Potential
Analysts have adjusted their price target for Torex Gold Resources to CA$97.13. This reflects updated views on discount rates, revenue growth assumptions, profit margins, and future P/E expectations.Narrative Update • Jun 06
TXG: Exploration Progress And Project Delivery Will Support Future ReRating Potential
Analysts have trimmed their 12 month price target on Torex Gold Resources by CA$1, citing updated assumptions for discount rate, revenue growth, profit margin and future P/E that modestly adjust the stock's risk and return profile. What's in the News Torex Gold restarted drilling at the Los Reyes Project in Sinaloa, Mexico, with an exploration and resource program targeting three main mineralized trends to support future economic studies, source: company announcement dated 28 May 2026.Analysis Article • May 15
New Forecasts: Here's What Analysts Think The Future Holds For Torex Gold Resources Inc. (TSE:TXG)
Torex Gold Resources Inc. ( TSE:TXG ) shareholders will have a reason to smile today, with the analysts making...Narrative Update • May 15
TXG: Future Project Delivery And Exploration Success Will Support ReRating Potential
Analysts have reduced their CA$ price target on Torex Gold Resources by CA$1, reflecting updated assumptions on fair value, discount rate, revenue growth, profit margins, and future P/E multiples. Analyst Commentary Recent research points to a more measured stance on Torex Gold Resources, with the CA$1 price target trim tied to refreshed assumptions rather than a single event.Narrative Update • Apr 25
TXG: Future Reserve And Resource Delivery Will Support ReRating Potential
The analyst price target for Torex Gold Resources has been adjusted to CA$96.31, reflecting updated views from recent research in which some analysts raised their CA$ targets by CA$10 to CA$23, while another made a CA$1 reduction, alongside recalibrated expectations for revenue growth, profit margins and future P/E. Analyst Commentary Recent research on Torex Gold Resources reflects a mix of optimism and caution, with several price target changes clustering around the new CA$96.31 average.Narrative Update • Apr 10
TXG: Future Production And Reserve Additions Will Support ReRating Potential
Torex Gold Resources' consensus analyst price target has shifted modestly, with a net change of CA$1 reflecting updated views on fair value, discount rate and future P/E assumptions across recent research from BMO Capital, CIBC, Scotiabank and Canaccord. Analyst Commentary Recent research shows a mixed but generally constructive reset in how analysts frame Torex Gold Resources, with several firms revising price targets and one trimming expectations at the margin.Narrative Update • Mar 25
TXG: Future Production And Medicine Springs Project Will Support ReRating Potential
Analysts have trimmed the average CA$ price target on Torex Gold Resources by a small amount, reflecting a slightly lower implied fair value and P/E multiple after incorporating recent mixed target revisions from BMO Capital, CIBC, Scotiabank and Canaccord. Analyst Commentary Recent target changes show a mix of optimism and caution among covering analysts, with several lifting their fair value estimates and one trimming its target, which results in a modest net reduction in the average target and implied P/E multiple.Narrative Update • Mar 11
TXG: Higher Margins And Media Luna West Will Support ReRating Potential
Analysts have lifted their average price target on Torex Gold Resources by CA$0.55, reflecting updated assumptions for fair value, discount rate, growth, margins and future P/E after recent target increases from several Canadian banks. Analyst Commentary Recent research has focused on recalibrating fair value assumptions for Torex Gold Resources, with several firms updating their price targets by amounts ranging from CA$5.50 to CA$23 on the upside.Narrative Update • Feb 25
TXG: Higher Margins And Media Luna West Will Support Stronger Cash Generation
Analysts have raised their CA$ fair value estimate for Torex Gold Resources from about CA$94.50 to roughly CA$95.10. They link the higher price target to updated views on margins, long term growth and a slightly lower discount rate.Narrative Update • Feb 10
TXG: Higher P/E Assumption Will Reflect Stronger Cash Generation Potential
Narrative Update The analyst price target for Torex Gold Resources has been raised from C$87.27 to C$94.50. Analysts point to updated fair value estimates and adjustments to the discount rate, revenue growth, profit margin, and future P/E assumptions to support the change.Analysis Article • Jan 29
Torex Gold Resources Inc. (TSE:TXG) Looks Just Right With A 26% Price Jump
Despite an already strong run, Torex Gold Resources Inc. ( TSE:TXG ) shares have been powering on, with a gain of 26...Narrative Update • Jan 26
TXG: Higher P/E Assumptions Will Frame Balanced Execution And Cash Return Outlook
Analysts have nudged their fair value estimate for Torex Gold Resources higher from $82.96 to $87.27, citing recent price target increases from firms that point to updated assumptions around growth, margins and future P/E expectations. Analyst Commentary Bullish Takeaways Bullish analysts lifting their targets closer to the new fair value estimate see room for the share price to better reflect current assumptions on growth, margins and future P/E levels.Narrative Update • Jan 12
TXG: Higher Earnings Multiple Assumptions Will Support Future Cash Return Confidence
Analysts have raised their price target on Torex Gold Resources to C$72 from C$58, citing updated assumptions around revenue growth, profit margins and a higher future P/E multiple as key drivers of their revised view. Analyst Commentary Bullish Takeaways Bullish analysts point to the higher C$72 target as a reflection of greater confidence in Torex Gold Resources' ability to translate its revenue assumptions into stronger profitability.Narrative Update • Dec 27
TXG: Future Cash Returns Will Increase Confidence As Dividend And Buybacks Expand
Torex Gold Resources' analyst price target has been raised sharply, with recent increases to C$72 and C$80 reflecting analysts' more optimistic assumptions for revenue growth, profit margins, and a lower expected future P/E multiple. Analyst Commentary Recent target hikes signal that bullish analysts are incorporating stronger assumptions for Torex Gold Resources' execution on growth projects and sustained profitability.Narrative Update • Dec 13
TXG: Future Cash Returns Will Increase Confidence After Dividend And Buybacks
The analyst price target for Torex Gold Resources has been raised meaningfully, with fair value estimates edging up to approximately C$83 from about C$81. Analysts point to stronger expected revenue growth and improved profitability, alongside a more attractive projected earnings multiple.Narrative Update • Nov 29
TXG: Rising Confidence in Future Returns Will Follow Dividend Introduction
The analyst price target for Torex Gold Resources has increased significantly, rising from a prior consensus of C$58 to C$62 to a new range of C$72 to C$80, as analysts cite stronger revenue growth and improving profit margins to support this upward revision. Analyst Commentary Recent updates from Street research have provided new insights into Torex Gold Resources following the increase in analyst price targets.Narrative Update • Nov 15
TXG: Continued Project Advancement Will Drive Confidence In Future Performance
Torex Gold Resources saw its analyst price target rise from C$58 to C$62, to a new range of C$72 to C$80, as analysts cited improved revenue growth expectations and an increased fair value estimate driving the bullish outlook. Analyst Commentary Bullish analysts continue to adjust their view of Torex Gold Resources as the company's financial outlook shows signs of improvement.Analysis Article • Nov 14
Investors Shouldn't Be Too Comfortable With Torex Gold Resources' (TSE:TXG) Earnings
Unsurprisingly, Torex Gold Resources Inc.'s ( TSE:TXG ) stock price was strong on the back of its healthy earnings...Narrative Update • Oct 31
TXG: Rising Gold Production And Margin Upside Will Drive Stronger Returns
The average analyst price target for Torex Gold Resources has increased from approximately C$72 to C$81. This reflects strong improvements in projected profit margins and continued confidence in the company’s outlook.Narrative Update • Oct 17
Media Luna Project Completion And M&A Will Extend Mine Life
The analyst price target for Torex Gold Resources has been raised significantly from C$62 to C$80, as analysts cite improved revenue growth and profit margin forecasts as key drivers of their increased valuation. Analyst Commentary Recent analyst revisions have highlighted both upside potential and ongoing uncertainties for Torex Gold Resources in light of updated price targets and performance assessments.Narrative Update • Oct 03
Media Luna Project Completion And M&A Will Extend Mine Life
Analysts have increased their fair value estimate for Torex Gold Resources to C$65.70, up from C$62. The revision is attributed to higher projected revenue growth and margin expansion as the primary drivers for the upward adjustment.
New Narrative • Sep 29
Torex Gold (TXG:CA): Underappreciated Asset in a Volatile Gold Cycle
As the U.S. shutdown looms, rotation from Treasuries into gold strengthens the case for TXG, with fair value closer to CAD 97. On the eve of another U.S. government shutdown, investors face the same dilemma as in past crises: where to hide when confidence in Treasuries weakens.Analysis Article • Sep 03
Torex Gold Resources Inc.'s (TSE:TXG) Shares Leap 30% Yet They're Still Not Telling The Full Story
Torex Gold Resources Inc. ( TSE:TXG ) shares have had a really impressive month, gaining 30% after a shaky period...Analysis Article • Aug 09
Results: Torex Gold Resources Inc. Beat Earnings Expectations And Analysts Now Have New Forecasts
TSX:TXG 1 Year Share Price vs Fair Value Explore Torex Gold Resources's Fair Values from the Community and select yours...Analysis Article • Jul 14
Investors Will Want Torex Gold Resources' (TSE:TXG) Growth In ROCE To Persist
If we want to find a stock that could multiply over the long term, what are the underlying trends we should look for...Analysis Article • May 15
Torex Gold Resources' (TSE:TXG) Sluggish Earnings Might Be Just The Beginning Of Its Problems
Last week's earnings announcement from Torex Gold Resources Inc. ( TSE:TXG ) was disappointing to investors, with a...Analysis Article • Apr 01
Torex Gold Resources Inc.'s (TSE:TXG) 26% Jump Shows Its Popularity With Investors
Despite an already strong run, Torex Gold Resources Inc. ( TSE:TXG ) shares have been powering on, with a gain of 26...
New Narrative • Jan 16
Media Luna Project Completion Will Expand Production Starting In 2025
Completion of the Media Luna project and exploration activities boost production capacity, supporting future revenue and long-term growth.Analysis Article • Oct 21
Torex Gold Resources (TSE:TXG) Shareholders Will Want The ROCE Trajectory To Continue
If we want to find a potential multi-bagger, often there are underlying trends that can provide clues. Typically, we'll...Analysis Article • Sep 14
Here's Why Torex Gold Resources (TSE:TXG) Has A Meaningful Debt Burden
David Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...Analysis Article • Aug 27
Torex Gold Resources Inc. (TSE:TXG) Soars 25% But It's A Story Of Risk Vs Reward
The Torex Gold Resources Inc. ( TSE:TXG ) share price has done very well over the last month, posting an excellent gain...Analysis Article • Aug 27
Further Upside For Torex Gold Resources Inc. (TSE:TXG) Shares Could Introduce Price Risks After 25% Bounce
The Torex Gold Resources Inc. ( TSE:TXG ) share price has done very well over the last month, posting an excellent gain...Analysis Article • Mar 29
Should You Be Adding Torex Gold Resources (TSE:TXG) To Your Watchlist Today?
For beginners, it can seem like a good idea (and an exciting prospect) to buy a company that tells a good story to...Analysis Article • Mar 06
There's No Escaping Torex Gold Resources Inc.'s (TSE:TXG) Muted Earnings Despite A 25% Share Price Rise
The Torex Gold Resources Inc. ( TSE:TXG ) share price has done very well over the last month, posting an excellent gain...Analysis Article • Feb 21
Torex Gold Resources (TSE:TXG) Is Experiencing Growth In Returns On Capital
What trends should we look for it we want to identify stocks that can multiply in value over the long term? Firstly...Analysis Article • Dec 24
Little Excitement Around Torex Gold Resources Inc.'s (TSE:TXG) Earnings
Torex Gold Resources Inc.'s ( TSE:TXG ) price-to-earnings (or "P/E") ratio of 5.4x might make it look like a strong buy...Revenue & Expenses Breakdown
Revenue & Expenses Breakdown
How Torex Gold Resources makes and spends money. Based on latest reported earnings, on an LTM basis.
Earnings and Revenue History
| Date | Revenue | Earnings | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 31 Mar 26 | 1,675 | 572 | 103 | 0 |
| 31 Dec 25 | 1,306 | 403 | 105 | 0 |
| 30 Sep 25 | 1,135 | 297 | 90 | 0 |
| 30 Jun 25 | 1,033 | 212 | 77 | 0 |
| 31 Mar 25 | 1,049 | 131 | 67 | 0 |
| 31 Dec 24 | 1,116 | 135 | 59 | 0 |
| 30 Sep 24 | 1,103 | 125 | 48 | 0 |
| 30 Jun 24 | 949 | 106 | 38 | 0 |
| 31 Mar 24 | 890 | 179 | 33 | 0 |
| 31 Dec 23 | 883 | 204 | 32 | 0 |
| 30 Sep 23 | 817 | 189 | 33 | 0 |
| 30 Jun 23 | 866 | 222 | 35 | 0 |
| 31 Mar 23 | 890 | 217 | 34 | 0 |
| 31 Dec 22 | 869 | 189 | 33 | 0 |
| 30 Sep 22 | 854 | 154 | 32 | 0 |
| 30 Jun 22 | 861 | 146 | 30 | 0 |
| 31 Mar 22 | 832 | 137 | 32 | 0 |
| 31 Dec 21 | 856 | 152 | 28 | 0 |
| 30 Sep 21 | 905 | 244 | 16 | 0 |
| 30 Jun 21 | 945 | 268 | 16 | 0 |
| 31 Mar 21 | 848 | 211 | 28 | 0 |
| 31 Dec 20 | 789 | 109 | 25 | 0 |
| 30 Sep 20 | 728 | 52 | 35 | 0 |
| 30 Jun 20 | 669 | 19 | 35 | 0 |
| 31 Mar 20 | 711 | 26 | 22 | 0 |
| 31 Dec 19 | 641 | 71 | 24 | 0 |
| 30 Sep 19 | 582 | 38 | 24 | 0 |
| 30 Jun 19 | 510 | 34 | 25 | 0 |
| 31 Mar 19 | 461 | 12 | 27 | 0 |
| 31 Dec 18 | 443 | 23 | 27 | 0 |
| 30 Sep 18 | 353 | -3 | 25 | 0 |
| 30 Jun 18 | 327 | -29 | 26 | 0 |
| 31 Mar 18 | 312 | -11 | 26 | 0 |
| 31 Dec 17 | 315 | -13 | 26 | 0 |
| 30 Sep 17 | 376 | 23 | 27 | 0 |
| 30 Jun 17 | 384 | 48 | 24 | 0 |
| 31 Mar 17 | 400 | 50 | 21 | 0 |
| 31 Dec 16 | 313 | 3 | 19 | 0 |
| 30 Sep 16 | 210 | -7 | 19 | 0 |
| 30 Jun 16 | 102 | -36 | 18 | 0 |
| 31 Mar 16 | 0 | -52 | 19 | 0 |
| 31 Dec 15 | 0 | -25 | 22 | 0 |
| 30 Sep 15 | 0 | -41 | 26 | 0 |
Quality Earnings: TXG has high quality earnings.
Growing Profit Margin: TXG's current net profit margins (34.1%) are higher than last year (12.4%).
Free Cash Flow vs Earnings Analysis
Past Earnings Growth Analysis
Earnings Trend: TXG's earnings have grown by 12.4% per year over the past 5 years.
Accelerating Growth: TXG's earnings growth over the past year (338.2%) exceeds its 5-year average (12.4% per year).
Earnings vs Industry: TXG earnings growth over the past year (338.2%) exceeded the Metals and Mining industry 129.4%.
Return on Equity
High ROE: TXG's Return on Equity (22.7%) is considered high.
Return on Assets
Return on Capital Employed
Discover strong past performing companies
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/06/29 04:50 |
| End of Day Share Price | 2026/06/26 00:00 |
| Earnings | 2026/03/31 |
| Annual Earnings | 2025/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
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Learn about the world class team who designed and built the Simply Wall St analysis model.
Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
Torex Gold Resources Inc. is covered by 22 analysts. 4 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Richard Gray | ATB Cormark |
| Richard Gray | ATB Cormark Historical (Cormark Securities) |
| Kevin O'Halloran | BMO Capital Markets Equity Research |