The Globe and Mail reports in its Thursday edition that RBC analyst Wayne Lam has elevated his ranking for Torex Gold Resources to "outperform" from "sector perform." The Globe's David Leeder writes that Mr. Lam's share target advanced to $22 from $20. Analysts on average target the shares at $23.39. With "significant derisking milestones over the last year and construction at Media Luna now halfway complete," Mr. Lam now sees Torex as "attractively valued," which prompted him to issue his upgrade. Mr. Lam says in a note: "In our view, Torex shares do not currently reflect significant headway made over the last year in derisking the company's future. This includes receipt of the key MIA Integral and in-pit tailings deposition permits amidst a challenging regulatory environment, El Limon push back to address the potential production gap in extending the open pit to mid-2025 while ramping up the ELG underground, and advancement of the tunnel beneath the Balsas River with planned breakthrough by year-end, well ahead of schedule. With shares having pulled back to levels last seen in late 2022, we view current valuation as not reflective of the progress and derisking initiatives undertaken over the last year."