Canada's Torex Gold Q2 revenue misses estimates

Torex Resources

06/08/2026 23:12

Overview
Canada gold miner's Q2 revenue fell and missed sole analyst estimate
Adjusted EBITDA for Q2 slightly exceeded the single analyst estimate
Company raised full-year AISC guidance due to cost pressures and lower grades

Outlook
Torex Gold maintains 2026 production guidance of 420,000 to 470,000 oz AuEq
Company raises 2026 AISC guidance to $2,000-$2,100 per oz AuEq sold
Exploration and drilling expenditures forecast at $85 mln for 2026, up from $77 mln

Result Drivers
LOWER GRADES AND RECOVERIES - Co said Q2 production was affected by mining through lower-grade and lower gold recovery areas at Media Luna
COST PRESSURES - Elevated AISC in Q2 reflected lower grades, higher plant reagent costs, and a stronger Mexican peso
CASH GENERATION - Co generated $94 mln in free cash flow in Q2, supporting capital returns to shareholders

Company press release: ID:nNFC7J6PYT

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Miss
$406.90 mln
$420 mln (1 Analyst)
Q2 Adjusted Net Income
 
$84.90 mln
 
Q2 Net Income
 
$113.80 mln
 
Q2 Adjusted EBITDA
Beat
$203.50 mln
$200 mln (1 Analyst)
Q2 EBITDA
 
$209.10 mln
 
Q2 Free Cash Flow
 
$94.20 mln
 

Reuters Recommended Reads
Aug 5 - Canada's Equinox Gold Q2 revenue slightly misses estimates
Aug 6 - Canada's McEwen Q2 revenue rises on higher gold prices
Aug 6 - Canada's IAMGOLD Q2 adjusted EBITDA rises on higher gold prices

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)