Torex Gold Resources Inc (TORXF) fair value: what the stock is really worth
As of Nov 13, 2026: fair value (intrinsic value) of Torex Gold Resources Inc stock $30.18, price $48.46, that is 37.7% below the price, quality 54 out of 100. Rating: strongly overvalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
Torex Gold Resources Inc., a mineral exploration company, engages in the acquisition, exploration, and development of mineral properties in Mexico and the United States. The company explores for gold, copper, silver, and carbon deposits.
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Its flagship project is a 100% owned Morelos Complex covering an area of 29,000 hectares located in Guerrero, Mexico. The company was formerly known as Gleichen Resources Ltd. and changed its name to Torex Gold Resources Inc. in April 2010.
Torex Gold Resources Inc. was incorporated in 1980 and is based in Toronto, Canada.
Stock analysis
Torex Gold Resources Inc (TORXF) currently trades at $48.46, while our model-based Fair Value estimate is $30.18, 38% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of $105.50 per share, and 14 of the 26 models we run sit above the $48.46 price.
Bear case: the Dividend Discount group reads lowest at $9.52, and 12 of the 26 models stay below the price. Data coverage for this calculation is high.
Scenario range: $13.97 (bear) to $38.91 (bull), the price of $48.46 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 54/100 (solid quality), in the Basic Materials sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Torex Gold Resources Inc reported revenue of $1.3B in FY2025 versus $856M in FY2021, a compound +11.6%/yr. Reported net income was $410M in FY2025, compounding +28.3%/yr from FY2021.
Key figures
Market cap $4.6B Mid · P/E ratio 7.1 · P/S ratio 2.32 · EPS (TTM) $6.87 · Dividend yield 0.9% · Net margin 32.7% · Return on equity 28.6% · Return on assets (EBIT) 17.9% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 78 out of 100 (medium confidence).
What moves the price
The share trades about 20% below its 52-week high and 30% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at −2% fair-value upside, at −38%, TORXF screens richer than that median.
Fair Value models
Bear$13.97Fair Value $30.18Bull$38.91
Price $48.46 · Downside -37.7%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then ($5.60 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Best data coverage
FCF DCF$19.22$31.09$60.0777
Growth DCF$18.48$33.18$57.0076
EPV$40.21$45.68$50.2774
All 26 models by family
DCF Models
FCF DCF$19.22$31.09$60.0777
Owner Earnings$28.94$56.29$105.3073
5Y Revenue Exit$17.56$31.95$54.3970
5Y EBITDA Exit$44.55$92.22$162.8672
5Y P/E Exit$43.74$92.48$154.0368
10Y Revenue Exit$17.40$31.87$53.3965
10Y EBITDA Exit$35.22$76.31$149.9564
10Y P/E Exit$34.70$74.97$142.3760
Earnings-Based
Graham-Dodd$30.93$197.00$275.3663
Lynch FV$57.43$82.05$106.6661
PEG = 1.0$57.43$82.05$106.6657
EPV$40.21$45.68$50.2774
Dividend Discount
Gordon GGM$5.46$9.99$13.9467
DDM Multi-Stage$5.46$9.05$10.6567
Multiples
P/E Multiple$57.99$77.32$96.6563
P/S Multiple$16.56$22.08$27.6058
P/B Multiple$60.39$80.52$100.6455
EV/EBIT$62.58$83.48$104.3966
EV/EBITDA$59.11$78.87$98.6267
EV/Revenue$15.30$21.93$28.5553
Asset-Based
NCAV (Graham)$13.42$17.98$26.8454
Growth DCF
Growth DCF$18.48$33.18$57.0076
Rev-Margin DCF$17.56$31.95$52.6670
Economic Profit
Residual Income$26.69$36.87$62.5873
ROIC Compounder$46.53$63.20$83.2072
Growth Earnings
Growth-Adj P/E$73.85$105.50$137.1567
The fair value above starts from this blend and is adjusted for a cyclical peak year.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.60/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+19.1%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+15.2%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+11.0%
Start year 2020 (pandemic)
Revenue growth 23 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+108.2%
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What shareholders gained per year (last 5 years) (mathematically smoothed) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip.
+25.4%
Earnings growth per share plus dividend.
Earnings per share, growth per year+24.5%
Dividend (yield on the price)0.9%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.29.5% vs 60.9%, slowing
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.28% → 41%
2025 sits 110% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
Price in line with expectations
The price assumes more growth than the company has delivered so far and about what analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+25.5%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+23.7%
Yearly sales growth analysts expect, extended to five years.
After inflation (USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about +22.6% a year for the price and +20.9% for the forecasts.
News mood ⓘNews mood, the average tone of recent news (100 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Positive
Recent news coverage is more positive than average.
Compare Torex Gold Resources Inc with another stock
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Gold · 282 stocks
Beats the industry median on 11/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score54 · Above median
Fair Value upside−37.7% · Bottom 25%
Profitability
Return on equity (12 months)28.6% · Top 25%
Return on assets13.6% · Top 25%
Net margin (12 months)32.7% · Above median
Operating margin (12 months)47.8% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)33.3% · Above median
Dividend yield (12 months)0.9% · Below median
Balance sheet
Debt / equity0.01× · Below median
Valuation Multiplesvs Gold median · lower = cheaper
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Is Torex Gold Resources Inc (TORXF) overvalued or undervalued?
As of Nov 14, 2026, our model estimates a fair value of $30.18 versus a price of $48.46, about 38% lower (overvalued).
What is the fair value of TORXF?
Our model-based fair value for Torex Gold Resources Inc is $30.18 (as of Nov 14, 2026), built from audited fundamentals. The current price: $48.46.
What is the quality score of TORXF?
Torex Gold Resources Inc has a Quality Score of 54/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Torex Gold Resources Inc (TORXF)?
Our model-based price target is the fair value of $30.18 (as of Nov 14, 2026) from 26 valuation models. Cautious scenario $13.97, optimistic scenario $38.91. It is a calculation from audited fundamentals, not an analyst target.
What is the Torex Gold Resources Inc stock forecast for 2026?
Our models put fair value at $30.18, about 38% lower versus a price of $48.46 (overvalued). Cautious scenario $13.97, optimistic scenario $38.91. The calculation is refreshed regularly with new filings.
What is the revenue of Torex Gold Resources Inc (TORXF)?
Torex Gold Resources Inc reported trailing-twelve-month revenue of about $2.0B (latest available figure, as of Nov 14, 2026).
Does Torex Gold Resources Inc pay a dividend?
Torex Gold Resources Inc currently shows a dividend yield of 0.91% relative to its recent price (as of Nov 14, 2026).
How much is the dividend of Torex Gold Resources Inc (TORXF) and when is the ex-dividend date?
Torex Gold Resources Inc pays a dividend of $0.44 per share a year, a dividend yield of 0.9%. The next ex-dividend date is Nov 19, 2026. The payout ratio is 6.4% of earnings. Free cash flow covers the dividend 2.81 times. Our assessment: Well covered. A low payout and the dividend is fully funded by free cash flow, a comfortable, sustainable dividend.
What growth is priced into Torex Gold Resources Inc (TORXF)?
For today's price to be fair in a discounted-cash-flow model, Torex Gold Resources Inc would have to grow free cash flow by +25.5 % per year for five years (discount rate 10.7 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +11.0 % per year. As of Nov 14, 2026.
What discount rate (WACC) does the fair value of TORXF use?
Our models discount Torex Gold Resources Inc at 10.7 %: a base by market capitalisation (mid), damped by beta 1.41, country premium for USA. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Torex Gold Resources Inc that is +25.5 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (10.7 %) and the same formula as our fair value.
How much growth has Torex Gold Resources Inc (TORXF) delivered so far?
Over the past 5 years revenue at Torex Gold Resources Inc grew +11.0 % a year. The price currently implies free-cash-flow growth of +25.5 % per year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Torex Gold Resources Inc (TORXF) growing?
The median revenue growth in the sector is +8.8 % a year. That is the yardstick for the growth priced into Torex Gold Resources Inc (+25.5 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Torex Gold Resources Inc (TORXF)?
The free-cash-flow yield on the price is 2.45 %: that much free cash flow Torex Gold Resources Inc produces per unit of market value. When it exceeds the discount rate of our models (10.7 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Torex Gold Resources Inc (TORXF)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Torex Gold Resources Inc it is $30.18 per share (as of Nov 14, 2026), against a price of $48.46. It is the blended result of 26 valuation models in 8 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is Torex Gold Resources Inc stock overvalued or undervalued in 2026?
As of Nov 14, 2026, TORXF trades above its calculated fair value: price $48.46, fair value $30.18, a gap of about −38% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of TORXF?
No. The price is what the market pays today ($48.46); the fair value is what the company's own numbers justify ($30.18). For Torex Gold Resources Inc the two are $18.28 per share apart. That gap is exactly why we show both numbers side by side.
How much is Torex Gold Resources Inc worth?
The market values Torex Gold Resources Inc at about $4.6B (market capitalisation, as of Nov 14, 2026). Per share that is $48.46; our models calculate a fair value of $30.18 per share.
What do the bullish and bearish scenarios say about TORXF?
Our models span a range for Torex Gold Resources Inc: cautious scenario $13.97, base $30.18, optimistic $38.91 per share (as of Nov 14, 2026, price $48.46). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of TORXF?
Torex Gold Resources Inc trades at a price-to-earnings ratio of 7.1 (as of Nov 14, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $30.18 is built from several models across several years. Median P/E at fiscal year-end, 9 fiscal years (2016 to 2025), reported earnings: 11.9. Other multiples: P/B 1.9, P/S 2.3, EV/EBITDA 3.8.
How solid is the balance sheet of Torex Gold Resources Inc (TORXF)?
Balance-sheet figures for Torex Gold Resources Inc (as of Nov 14, 2026): return on equity 28.6%, debt of 0.01 per unit of equity. They feed the Quality Score of 54/100, which measures business quality independently of the share price.
How far is TORXF from its 52-week high?
Torex Gold Resources Inc trades at $48.46, about 20% below its 52-week high of $60.33 and 30% above the low of $37.29 (as of Nov 13, 2026). Distance from the high says nothing about value: that is what the fair value of $30.18 is for.
Which stocks are comparable to Torex Gold Resources Inc?
From the same area (Basic Materials) we also value Newmont Corporation, Zijin Mining Group, Agnico Eagle Mines Limited, Wheaton Precious Metals Corp, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Torex Gold Resources Inc stock attractive at the current price?
The data as of Nov 14, 2026: price $48.46, calculated fair value $30.18 (−38%), Quality Score 54/100, from 26 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of TORXF calculated?
We run Torex Gold Resources Inc through 26 models from 8 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of $30.18 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.9% above its aggregate fair value. Torex Gold Resources Inc itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Torex Gold Resources Inc (TORXF)?
The closing price on Nov 13, 2026 was $48.46. Our model-based fair value is $30.18, about 38% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Torex Gold Resources Inc right now?
The price sits above even our optimistic bull case ($38.91). The favourable scenario is already priced in. The model range is unusually wide ($13.97 to $38.91). The outcome hinges heavily on assumptions, so read the point estimate with caution. Solid but not exceptional quality (54/100) and above fair value, neither a clear bargain nor a standout compounder.
Key figures of Torex Gold Resources Inc
How large is the market capitalisation of Torex Gold Resources Inc (TORXF)?
The market capitalisation of Torex Gold Resources Inc is $4.6B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Torex Gold Resources Inc (TORXF)?
The price-to-sales ratio of Torex Gold Resources Inc is 2.32 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Torex Gold Resources Inc (TORXF)?
Earnings per share at Torex Gold Resources Inc are $6.87 (price ÷ EPS = P/E 7.1). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Torex Gold Resources Inc (TORXF)?
The dividend yield of Torex Gold Resources Inc is 0.9% (payout 6.4%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Torex Gold Resources Inc (TORXF)?
The net margin of Torex Gold Resources Inc is 32.7% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Torex Gold Resources Inc (TORXF)?
The return on equity (ROE) of Torex Gold Resources Inc is 28.6% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Torex Gold Resources Inc (TORXF)?
On an EBIT basis the return on assets of Torex Gold Resources Inc is 17.9% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Torex Gold Resources Inc (TORXF)?
The operating margin of Torex Gold Resources Inc is 47.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Torex Gold Resources Inc (TORXF)?
Revenue at Torex Gold Resources Inc is growing +33.3% versus a year earlier (3y avg +15.2%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Torex Gold Resources Inc (TORXF)?
Earnings per share at Torex Gold Resources Inc are growing +27.5% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Torex Gold Resources Inc (TORXF) carry?
The net debt of Torex Gold Resources Inc is $13.9M (fiscal year 2025, ≈ 0.1 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
Why does Torex Gold Resources Inc meet the fair value rule although the fair value shown is lower?
Peak profit dampened: $74.97 → $30.18. The latest annual profit is far above the years before, and such peaks rarely last. So we calculate cautiously with $30.18 instead of $74.97. If the profit stays high, we ease the caution year by year. As in the backtest, the fair value rule checks the value before: +55% against the price.
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Broad data
Nov 14, 2026