Triple Flag Precious Metals Reports Record First Quarter Results
The company reported revenue of $147.0 million for the first quarter of 2026
Triple Flag Precious Metals Corp. (TFPM), a precious metals royalty company, reported record results for the first quarter of 2026. Revenue rose to $147.0 million from $82.2 million in the same period last year. Net earnings for the quarter were $116.9 million, or $0.57 a share, compared to $45.5 million, or $0.23 a share, in the first quarter of 2025.
Gold Equivalent Ounces (GEOs) increased to 30,166 from 28,761. The growth in GEOs was driven by silver, which rose to 11,567 ounces from 6,817 ounces. Gold GEOs decreased to 18,249 from 21,944. Revenue from silver rose to $56.361 million from $19.493 million, while gold revenue increased to $88.924 million from $62.752 million.
Operating cash flow rose to $113.3 million from $65.9 million. Operating cash flow per share increased to $0.55 from $0.33. Adjusted EBITDA reached $128.6 million, up from $70.7 million in the prior year's first quarter. The company maintained an asset margin of 93%.
Triple Flag entered into an agreement with Evolution Mining to unlock the E44 deposit at Northparkes through guaranteed minimum gold and silver deliveries. The company also acquired a 3.0% GR royalty on the Gunnison copper project in Arizona.
Triple Flag declared a dividend of $0.0575 per common share to be paid on June 15, 2026. The company said it has over $1.1 billion of available liquidity.
Triple Flag maintains its sales guidance for 2026 of 95,000 to 105,000 GEOs and its 2030 outlook of 140,000 to 150,000 GEOs. A construction decision by Agnico Eagle at Hope Bay is expected later in May 2026.