- Torex Gold reported a record quarter across the board earlier this month from a financial standpoint, and its second best quarter ever operationally.
- Unfortunately, the weakness in metals prices has taken a bite out of the stock, with Torex giving up all of its post-earnings report gains.
- Based on an enterprise value of ~US$1.13 billion, Torex is currently valued at below US$110.00/oz, which is more than 10% below the average paid for gold producers in 2020.
- Given the company's very reasonable valuation and continued operational excellence, I see this pullback below C$19.00 as a low-risk area to start a position in the stock.
For further details see:
Torex Gold: Back On The Sale Rack