TORQUE METALS LIMITED (TOR)
Share Price Analysis and Chart

26/10/2026

1

Speculative Buy

$0.63

240.54%

Torque Metals has raised $25m in an institutional placement at 19c a share which removes the overhang on the balance sheet that Morgans suspects may have capped the share price.

This is despite consistently strong drilling results. Funding has been secured and the resource is a high-quality 351,000 ounces at 3.1g/t gold.

The company has growth-orientated drilling ahead, comprising more than 70,000m, with a strong number of targets being tested across the broader South Kalgoorlie Gold Camp. Speculative Buy rating and the target is reduced to 63c from 68c.

FORECAST
Morgans forecasts a full year FY27 dividend of 0.00 cents and EPS of minus -0.10 cents.
Morgans forecasts a full year FY28 EPS of 24.00 cents.

05/11/2026

1

Speculative Buy

$0.50

170.27%

Canaccord Genuity maintains a Speculative Buy rating for Torque Metals with its target price decreased to $0.50 from $0.55 following strong drilling results from the Ritz Gold Project.

The results featured step-out drilling at the HHH deposit defining a west-plunging high-grade shoot beyond the current 73koz at 2.0g/t resource, with a peak intercept of 4.0m at 9.74g/t gold from 378m.

Canaccord notes this deepest intercept to date occurs outside existing DHEM plates, suggesting the mineralised system remains open down-plunge.

Additional drilling at the Paris deposit returned shallow intercepts, including 12.0m at 2.20g/t gold from 47m, supporting the company's interpretation of broader mineralised continuity.

The analyst updates valuation models to incorporate a recent $25m capital raising at 19c per share, noting the resulting issuance of 132m new shares dilutes the target price despite the positive exploration outcomes.