Research analysts who have asked questions during Triple Flag Precious Metals earnings calls.
DM
Derick Ma
TD Cowen
5 questions for TFPM
Also covers: FNV, RGLD, SAND +2 more
TJ
Tanya Jakusconek
Scotiabank
4 questions for TFPM
Also covers: AEM, AU, BVN +11 more
FT
Fahad Tariq
Jefferies Financial Group
3 questions for TFPM
Also covers: AEM, ERO, FNV +7 more
BM
Brian McArthur
Raymond James
2 questions for TFPM
CC
Cosmos Chiu
CIBC World Markets
2 questions for TFPM
Also covers: AGI, EGO, FNV +5 more
LW
Lawson Winder
Bank of America
2 questions for TFPM
Also covers: AA, AEM, CCJ +21 more
SO
Sam Overwater
Scotiabank
2 questions for TFPM
BM
Brian MacArthur
Raymond James Financial, Inc.
1 question for TFPM
Also covers: CCJ, CDE, CGAU +9 more
JW
Joshua Wolfson
RBC Capital Markets
1 question for TFPM
Also covers: AEM, AU, FNV +7 more
MA
Mikel Abasolo
Independent Analyst
1 question for TFPM
Recent press releases and 8-K filings for TFPM.
Royalty and Streaming Companies Discuss 2025 Performance and 2026 Outlook
TFPM
M&A
Guidance Update
New Projects/Investments
- The royalty and streaming sector experienced record M&A activity in 2025 with over $9 billion in deals, though 55% were outside Tier 1 jurisdictions and 26% were unsecured. Despite this, royalty companies generally underperformed the gold index in 2025.
- OR Royalties achieved its 2025 guidance, is debt-free with over $1 billion in liquidity, and projects 40% growth over the next five years from existing assets, while maintaining a disciplined approach to acquisitions.
- Royal Gold significantly expanded its portfolio in 2025 with key acquisitions, including Sandstorm and Horizon Copper for $3.5 billion and a $1 billion gold stream on Kansanshi, while also reducing its debt by $400 million and increasing its dividend for 25 consecutive years.
- Triple Flag Precious Metals achieved 113,000 ounces in 2025 GEO production (near the top of guidance) and forecasts 135,000-145,000 ounces by 2029 from its existing portfolio. The company is debt-free and acquired a 1% royalty on the Arthur Project in Nevada.
Jan 21, 2026, 4:00 PM
Royalty and Streaming Companies Discuss 2025 Performance, Growth Outlook, and M&A Trends at CIBC Conference
TFPM
M&A
Guidance Update
New Projects/Investments
- OR Royalties reported 40% growth expected over the next five years from existing assets and a 97% cash margin, with 80% of NAV and cash flow from Tier 1 jurisdictions. In 2025, the company was highly selective in M&A, participating in only $25 million of $9.3 billion in deals due to valuation, jurisdiction, and a refusal to engage in unsecured transactions.
- Royal Gold highlighted $3.5 billion in acquisitions in 2025, including Sandstorm and Horizon Copper, and a $1 billion gold stream investment on Kansanshi. The company aims to reduce its $1.2 billion debt from these acquisitions, having already paid down $400 million since October.
- Triple Flag Precious Metals achieved 113,000 ounces of GEO production in 2025, near the top of its guidance, and projects 135,000-145,000 ounces by 2029 from its existing portfolio. The company acquired a 1% royalty on the Arthur Project for approximately $250 million in 2025.
- Industry-wide, 2025 was a record year for royalty streaming M&A, exceeding $9 billion, but royalty and streaming companies generally underperformed the gold index (e.g., Triple Flag up 98% vs. gold index up 141%).
Jan 21, 2026, 4:00 PM
Royalty and Streaming Companies Discuss 2025 Performance and 2026 Outlook at CIBC Conference
TFPM
M&A
New Projects/Investments
Dividends
- Royal Gold completed significant transactions in 2025, including the $3.5 billion acquisition of Sandstorm and Horizon Copper and a $1 billion gold stream investment on Kansanshi, which enhanced its portfolio's diversification, growth, and duration.
- Triple Flag Precious Metals highlighted its consistent production growth and financial metric improvements, alongside its acquisition of a 1% royalty on the Arthur Project in Nevada through Orogen Royalties.
- Speakers acknowledged that royalty and streaming companies underperformed the gold index in 2025 but emphasized their high-margin business model, consistent dividends, and long-term outperformance over operating companies.
- Companies are focused on debt reduction (Royal Gold reduced $400 million since October 2025) and redeploying capital into new streams and royalties for long-term growth, with a general preference against holding significant gold bullion.
Jan 21, 2026, 4:00 PM
Triple Flag Reports Record Q4 and Full Year 2025 GEOs and Revenue
TFPM
Earnings
Guidance Update
- Triple Flag Precious Metals Corp. announced record quarterly revenue of US$118.9 million for the fourth quarter of 2025, with 28,757 gold equivalent ounces (GEOs) sold.
- For the full year 2025, the company achieved record revenue of $388.7 million and record GEOs of 113,237, reaching the top half of its 2025 GEOs guidance.
- The company will release its full Q4 2025 results on February 18, 2026, with a conference call scheduled for February 19, 2026.
Jan 14, 2026, 11:10 AM
Triple Flag Precious Metals Corp. Renews Normal Course Issuer Bid
TFPM
Share Buyback
- Triple Flag Precious Metals Corp. has received approval from the Toronto Stock Exchange (TSX) to renew its normal course issuer bid (NCIB).
- The renewed NCIB authorizes the company to repurchase up to 10,328,075 common shares, representing 5% of its issued and outstanding common shares as of November 3, 2025.
- This buyback program will be active from November 17, 2025, until November 16, 2026.
- Under its previous NCIB, Triple Flag repurchased 692,600 common shares for a total cost of approximately C$11.4 million, at an average cost of C$23.36 per share.
Nov 13, 2025, 12:11 PM
Triple Flag Precious Metals Reports Record Q3 2025 Results and Updates Guidance
TFPM
Earnings
Guidance Update
New Projects/Investments
- Triple Flag Precious Metals achieved a record third quarter in 2025, recording 27,000 GEOs, driving $79 million in adjusted EBITDA and $0.39 U.S. in operating cash flow per share.
- The company expects to achieve 2025 GEOs between the midpoint and the high end of its guidance range and declared a quarterly cash dividend of $5.75 U.S. per share.
- Year-to-date, Triple Flag deployed over $350 million in capital across five investments, including the acquisition of a 1% NSR royalty on the Arthur project and a royalty package on the Minera Florida gold mine for $23 million in Q3 2025.
- The balance sheet remains strong, with essentially zero net debt and nearly a billion dollars in total available liquidity.
- Triple Flag has initiated international arbitration regarding the ATO stream, stating it is owed about $10 million U.S. from Step Gold and is confident in its legal position.
Nov 5, 2025, 2:00 PM
Triple Flag Precious Metals Reports Record Q3 2025 Results and Updates 2025 Guidance
TFPM
Earnings
Guidance Update
New Projects/Investments
- Triple Flag Precious Metals reported 27,000 GEOs for Q3 2025, driving record adjusted EBITDA of $79 million and record operating cash flow per share of $0.39 US.
- The company expects to achieve 2025 GEOs between the midpoint and the high end of its 2025 guidance range.
- Year to date, Triple Flag has deployed over $350 million of capital across five investments, including the acquisition of a royalty package on the Minera Florida gold mine for $23 million in Q3 2025.
- Triple Flag declared a quarterly cash dividend of 5.75 cents US per share and exited Q3 2025 with essentially zero net debt and nearly $1 billion in total liquidity.
- The company has initiated international arbitration regarding the ATO stream, stating it is owed approximately $10 million US from Step Gold.
Nov 5, 2025, 2:00 PM
Triple Flag Precious Metals Reports Record Q3 2025 Results and Updates Guidance
TFPM
Earnings
Guidance Update
New Projects/Investments
- Triple Flag Precious Metals reported a record third quarter in 2025, with 27,000 GEOs, record adjusted EBITDA of $79 million, and record operating cash flow per share of $0.39 US. The company exited the quarter with essentially zero net debt and nearly a billion dollars in total liquidity.
- The company expects to achieve 2025 GEOs between the midpoint and the high end of its guidance range and maintains its 2029 outlook of 135,000 to 145,000 ounces GEOs.
- Year to date, Triple Flag has deployed over $350 million of capital across five investments, including the acquisition of a royalty package on the Minera Florida gold mine for $23 million and a 1% NSR royalty on the Arthur project.
- Triple Flag is engaged in international arbitration regarding the ATO stream with Step Gold, asserting it is owed approximately $10 million US and expressing confidence in its legal position.
Nov 5, 2025, 2:00 PM
Triple Flag Precious Metals Corp. Announces Record Operating Cash Flow per Share in Q3 2025
TFPM
Earnings
Guidance Update
New Projects/Investments
- Triple Flag Precious Metals Corp. reported record operating cash flow per share of $0.39 in Q3 2025, an increase from $0.31 in Q3 2024, with revenue reaching $93.5 million compared to $73.7 million in the prior year period.
- The company anticipates achieving sales between the midpoint and high end of its 2025 Gold Equivalent Ounces (GEOs) guidance, which ranges from 105,000 to 115,000 ounces.
- Triple Flag deployed over $350 million of capital in 2025, including the acquisition of a royalty package on Pan American Silver's Minera Florida gold mine for $23 million in Q3 2025.
- A quarterly cash dividend of $0.0575 per common share was declared, to be paid on December 15, 2025.
Nov 4, 2025, 10:05 PM
Triple Flag Precious Metals Reports Strong Q3 2025 Financial Results Driven by Higher Metal Prices and Portfolio Expansion
TFPM
Earnings
M&A
New Projects/Investments
- Triple Flag Precious Metals Corp. reported a 27% increase in revenue to $93,456 thousand for Q3 2025, primarily driven by higher gold and silver prices.
- Net earnings for Q3 2025 more than doubled to $61,916 thousand (or $0.30 per basic share), compared to $29,649 thousand ($0.15 per basic share) in Q3 2024.
- Operating cash flow reached a quarterly record of $81,366 thousand in Q3 2025, representing a 32% increase year-over-year, also benefiting from higher realized metal prices.
- The company significantly expanded its portfolio with $346,784 thousand in additions to mineral streams and royalties during the nine months ended September 30, 2025, including the acquisition of Orogen Royalties Inc..
- As of November 4, 2025, Triple Flag's portfolio consisted of 239 assets, comprising 16 streams and 223 royalties.
Nov 4, 2025, 10:00 PM
Quarterly earnings call transcripts for Triple Flag Precious Metals.
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