The Globe and Mail reports in its Wednesday, Dec. 10, edition that National Bank Financial analyst Don DeMarco continues to rate Torex Gold Resources "outperform." The Globe's David Leeder writes that Mr. DeMarco gave his share target a $5 trim to $85. Analysts on average target the shares at $80.81. Mr. DeMarco says in a note: "Morelos flirting with world-class status with over 500 oz/year for more than 10 years, AISC in the lower half of the industry cost curve, with prospective land package underscoring potential for organic reserve growth. Transitioned to positive FCF in June 2025, with Media Luna currently ramping-up. Mining rates on track for 7,500 tpd by Q3/26 and expecting rapid deleveraging to follow. Announced an inaugural quarterly dividend in Q3/25 reporting of 15 cents per share (1-per-cent annualized yield). Sizable reserves 5.1 million oz AuEq at 3.92 g/t, plus an additional 4.5 million oz AuEq in M&I+Inferred. Torex has a proven track-record of replacing mined ounces year after year. Organic production growth on the order of over 100 koz/year via the Atzcala oxide/heap leach target subject to planned drill testing. We see potential to backfill production of 450-500 koz through 2033 and beyond."