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Winner, Winner: The Chicken McNugget Story
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Torex Gold Resources
Torex Gold Resources (TXG) investor relations material
Torex Gold Resources Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary5 Nov, 2026
Executive summary
Q3 production rose 37% QoQ to 131,900 oz AuEq; AISC fell 27% to $1,803/oz AuEq sold, while revenue reached $555.0M and free cash flow was $150.4M.
Adjusted EBITDA was $344.2M; $270.8M of shareholder returns had been made YTD, and quarter-end cash was $225.9M.
FY26 production guidance remains 420,000–470,000 oz AuEq; Media Luna North and Morelos upgrades support planned growth.
Financial highlights
Revenue was $555.0M, adjusted EBITDA $344.2M, and operating cash flow $231M.
Q3 free cash flow was $150.4M and YTD free cash flow $401.9M.
Net income was $155.2M, or $1.68 basic EPS; adjusted net earnings were $180.1M, or $1.95/share.
Revenue included an $8.0M net gain on provisional concentrate pricing, comprising a $3.2M realized loss and an $11.2M unrealized gain.
Q3 production comprised 99 koz gold, 614 koz silver and 16 million lb copper, totaling 131,900 oz AuEq.
Outlook and guidance
FY26 production guidance remains 420,000–470,000 oz AuEq; YTD production was 329,071 oz, ~74% of the guidance midpoint.
FY26 AISC guidance remains $2,000–$2,100/oz AuEq; YTD AISC was $2,025/oz.
FY26 capital expenditure guidance is $300–$320M; Q3 spend was $79M and Q3 YTD spend was $203M, excluding working capital and other items.
Media Luna North remains on schedule for first production in late 2026; Morelos debottlenecking could lift capacity to 11,500–12,500 tpd, with a potential ~14,500 tpd expansion subject to further work and approval.
Los Reyes PFS is targeted for late 2027; 2027 production is expected at 110,000–115,000 oz per quarter at current throughput.
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Latest events from Torex Gold Resources
- Growth at Morelos and Los Reyes, plus new discoveries, drive strong cash flow and expansion.TXG
Mining Forum Americas 2026 - Q2 2026 saw strong output, high margins, robust cash flow, and advancing project milestones.TXGQ2 2026
- Los Reyes targets 37% IRR, $1.5B NPV, and first production in 2031 with strong margins.TXGInvestor presentation
- All resolutions passed, board changes noted, and growth plans in Mexico emphasized.TXGAGM 2025
- Record Q1 2026 revenue, margins, and cash flow drive enhanced shareholder returns.TXGQ1 2026
- Media Luna and EPO projects drive strong production, cash flow, and long-term growth.TXGCorporate presentation
- Media Luna on track for Q1 2025 production, supporting strong growth and robust outlook.TXGCorporate presentation
- Media Luna nears completion, supporting strong production, reserve growth, and ESG leadership.TXGCorporate presentation
- Strong Q2 gold output, robust margins, and Media Luna on track for Q1 2025 production.TXGQ2 2024
Next Torex Gold Resources earnings date
Q4 202617 Feb, 2027
Torex Gold Resources
Next Torex Gold Resources earnings date
Q4 202617 Feb, 2027
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Frequently asked questions
Torex Gold Resources Inc. is a mining company engaged in the exploration, development, and production of gold properties. The company operates the Morelos Gold Property in Mexico, which includes the El Limón Guajes mining complex and the Media Luna project. The company is headquartered in Toronto, Canada, and its shares are listed on the TSX.