Gold mining companies Torex Gold and Tesoro Gold see market developments

Torex Gold Resources has seen shifts in analyst sentiment, with National Bank Financial raising its price target for the company from C$85.00 to C$89.00 while maintaining an “outperform” rating. This follows recent target price adjustments from other institutions, including Canadian Imperial Bank of Commerce and Scotiabank, which lowered their objectives to C$90.00 and C$95.00 respectively.

In separate developments, Tesoro Gold Ltd has reported a maiden gold reserve at its Ternera deposit in Chile. The reserve contains 1.28 million ounces of gold, representing 87% of the project's total 1.47 million ounce resource. The company stated the reserve supports a production life of more than 13 years at a planned processing rate of 3.0Mtpa. Analysts at Morgans suggest this news could serve as a catalyst for the company's stock.