Triple Flag Precious Metals
Finances gold and silver mines through streams and royalties.
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Profile
Provides streaming and royalty financing for gold and silver mining projects rather than operating mines. Revenue exposure comes from contractual interests across producing, development, and exploration-stage projects.
Provides streaming and royalty financing to mining companies, giving it exposure to gold and silver across a portfolio of financed projects without operating the underlying mines. Stream agreements typically pair upfront capital with low ongoing cash payments, while royalties are revenue-based.
Portfolio investments span producing, development, and exploration-stage projects, and the company evaluates mine cost structures, sustainability practices, counterparty financial risk, and contractual protections. Managed from Toronto by a small team, its management and board bring metals-and-mining experience and sector networks. The business depends on counterparties bringing financed mines into production and on the contractual terms governing each stream or royalty.
Company facts
Key statistics
Year to date +3.6% · Average volume (30d) 500.5K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Jul 14, 2026 | Scotiabank | Reiterate | Sector Perform | $43 | $39 | |
| Jul 6, 2026 | Jefferies | Reiterate | Buy | $26 | $40 | |
| Jan 26, 2026 | Scotiabank | Reiterate | Sector Perform | $35 | $43 | |
| Oct 23, 2025 | Scotiabank | Downgrade | Sector Outperform | Sector Perform | $35 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 5, 2026Q2 FY26 | $0.33 | $0.39 | +18.2% | $129.2M | $129.2M | 0.0% | +2.69% |
| May 5, 2026Q1 FY26 | $0.43 | $0.45 | +4.7% | $147.0M | $147.0M | 0.0% | +5.04% |
| Feb 18, 2026Q4 FY25 | $0.32 | $0.33 | +3.1% | $118.9M | $118.9M | 0.0% | +2.14% |
| Nov 4, 2025Q3 FY25 | $0.22 | $0.24 | +9.1% | $114.9M | $93.5M | −18.7% | +2.13% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $82.2M | $94.1M | $93.5M | $120.7M | $145.0M | $129.2M | |
| Gross profit | $49.9M | $62.3M | $82.7M | $87.9M | $104.4M | $88.2M | |
| Operating income | $44.6M | $54.4M | $56.5M | $76.6M | $97.0M | $84.4M | |
| Net income | $45.5M | $55.7M | $61.9M | $78.0M | $115.3M | $156.3M | |
| Diluted EPS | $0.23 | $0.28 | $0.30 | $0.38 | $0.56 | $0.76 | |
| Gross margin | 60.7% | 66.3% | 88.5% | 72.8% | 72.0% | 68.3% | |
| Operating margin | 54.2% | 57.8% | 60.5% | 63.4% | 66.9% | 65.3% |
Fiscal years (4-quarter sums)FY21 $150.4M · FY22 $151.9M · FY23 $204.0M · FY24 $269.0M · FY25 $390.5M
Revenue by geography · FY25
Balance sheet, Jun 30, 2026Cash & short-term investments $15.2M · Total debt $235.0M · Total assets $2.57B · Shareholders' equity $2.28B
Dividends
Raised for 3 straight years — most recently to $0.0575 from $0.055 in Sep 2025. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Jun 1, 2026 | Jun 1 | Jun 15 | $0.0575 | |
| Mar 2, 2026 | Mar 2 | Mar 16 | $0.0575 | |
| Dec 1, 2025 | Dec 1 | Dec 15 | $0.0575 | |
| Sep 2, 2025 | Sep 2 | Sep 15 | $0.0575 | raised from $0.055 |
| May 30, 2025 | May 30 | Jun 16 | $0.055 | |
| Mar 3, 2025 | Mar 3 | Mar 14 | $0.055 | |
| Nov 29, 2024 | Nov 29 | Dec 16 | $0.055 | |
| Aug 30, 2024 | Aug 30 | Sep 16 | $0.055 | raised from $0.0525 |
Ownership
Shares outstanding 206.60M · Float 202.64M · 98.1% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Elliott Investment Management L.P. | 133.24M | 64.70% | 13D | Jun 30, 2026 |
Insider tradesForm 4
Nothing filed in the last 12 months.
View detailsPeers
- Wheaton Precious Metals
Large precious-metals streaming platform with royalty interests
- Franco-Nevada
Large, gold-focused royalty and streaming finance platform
- Royal Gold
Diversified precious-metals stream and royalty finance provider
- OR Royalties
Precious-metals royalty and streaming platform focused on Tier-1 jurisdictions
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Triple Flag Precious Metals | $34.50 | +1.58% | $7.02B | 17.0 | 25.6 | 14.4 | +37.3% |
| Wheaton Precious Metals | $152.55 | −0.50% | $69.63B | 34.0 | 29.7 | 21.9 | +84.7% |
| Franco-Nevada | $272.44 | +2.35% | $51.33B | 34.8 | 29.7 | 22.2 | +57.3% |
| Royal Gold | $263.05 | +0.06% | $22.31B | 28.7 | 21.8 | 14.4 | +114.9% |
| OR Royalties | $36.90 | −1.31% | $7.01B | 24.9 | 22.2 | 17.9 | +120.8% |
| Median | 31.3 | 26.0 | 19.9 | +99.8% |