Earning are out and they were great. Condensed earnings comments below:
(71 cents per share vs estimate was 48 cents. Full year $1.58 per share compared to 79 cents for 2019 ):
Torex Gold Brief: Posts Q4 Record Adjusted Net Income of US$60.9 Million, or $0.71 Per Share on a Basic and Diluted Basis; Delivers $183 Million Lift in Net Cash Year Over Year 08:36 AM EST, 02/24/2021 (MT Newswires) -- Torex Gold Resources (TXG.TO) said its fourth-quarter profit more than doubled on higher gold production and prices.
The company said its net income rose to US$91.9 million, or US$1.05 per share, from US$35.1 million, or US$0.41. Its adjusted profit, which excludes most one-time items, rose 79% to US$60.9 million, or US$0.71
Revenue rose 32% to US$251.6 million, as gold sales rose 4.9% to 133,063 ounces.
Torex said its 2020 gold production of 430,484 ounces topped the 420,000 ounce high end of its guidance.
"Our strong operational performance, in combination with a resurgent gold price, underpinned our strongest annual financial performance ever," chief executive Jody Kuzenko said in a release.