Record Q1 results with strong revenue and cash flow growth driven by higher gold and silver prices and increased GEOs. The maintained guidance and active portfolio developments (Northparkes E44, Gunnison royalty, multiple project catalysts) support the long-term growth narrative. Monitor the upcoming Hope Bay construction decision in May 2026 and the Cerro Lindo stream step-down from 65% to 25% that began in late April 2026, which will reduce future silver deliveries from that asset.
Price Chart
Executive Summary
Triple Flag Precious Metals Corp. reported record Q1 2026 results with revenue of $147.0 million (up 79% YoY from $82.2 million), net earnings of $116.9 million ($0.57 per share vs $0.23), and operating cash flow of $113.3 million (up 72% YoY). The company maintained its 2026 GEOs guidance of 95,000-105,000 ounces and 2030 outlook of 140,000-150,000 ounces, while also announcing a $0.0575 quarterly dividend and $1 million in share buybacks during the quarter.
Key Facts
- Revenue of $147.0 million in Q1 2026 vs $82.2 million in Q1 2025, a 79% increase
- Net earnings of $116.9 million ($0.57 per share) vs $45.5 million ($0.23 per share) YoY
- Operating cash flow of $113.3 million vs $65.9 million YoY, up 72%
- Adjusted EBITDA of $128.6 million vs $70.7 million YoY, up 82%
- GEOs sold increased to 30,166 from 28,761 YoY, a record quarter
- Quarterly dividend of $0.0575 per share declared, payable June 15, 2026
- 2026 GEOs guidance maintained at 95,000-105,000 ounces; 2030 outlook at 140,000-150,000 ounces
- Over $1.1 billion of available liquidity
- Asset margin remained steady at 93%
Financial Impact
Revenue increased by $64.8 million (79% YoY), net earnings more than doubled (+157%), operating cash flow rose by $47.4 million (72% YoY)
Risk Factors
- Cerro Lindo stream step-down from 65% to 25% began in late April 2026, reducing future silver deliveries from a key asset
- ATO stream default by Steppe Gold subsidiary remains unresolved, with legal enforcement ongoing
- Guidance and outlook depend on operator performance across 34 producing mines; any operational disruptions could impact GEOs
- Revenue growth partially driven by higher gold prices ($4,873/oz vs $2,860/oz YoY), which may not persist
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (Primary) | 0001104659-26-055723 |
| Document: tm2613632d1_6k.htm | 0001104659-26-055723 |
| Document: 0001104659-26-055723-index-headers.html | 0001104659-26-055723 |
| Document: 0001104659-26-055723-index.html | 0001104659-26-055723 |
| Document: 0001104659-26-055723.txt | 0001104659-26-055723 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 5, 2026 8w ago | 6-K | $32.11 $34.55 | ▲ +7.60% | ▲ +7.00% | $30.61 (−4.67%) |
Aug 5, 2026 8w ago | 6-K | $32.11 $34.55 | ▲ +7.60% | ▲ +7.00% | $30.61 (−4.67%) |
Jul 9, 2026 12w ago | 6-K | $28.51 $32.11 | ▲ +12.63% | ▲ +10.39% | $30.61 (+7.37%) |
Jun 12, 2026 16w ago | 6-K | $29.16 $28.10 | ▼ −3.64% | ▼ −5.41% | $30.61 (+4.97%) |
May 26, 2026 18w ago | 6-K | $31.54 $27.87 | ▼ −11.64% | ▼ −9.69% | $30.61 (−2.96%) |
May 6, 2026 21w ago | 6-K | $32.40 $29.87 | ▼ −7.81% | ▼ −10.94% | $30.61 (−5.52%) |
May 5, 2026 21w ago | 6-K | $32.69 $29.87 | ▼ −8.63% | ▼ −11.41% | $30.61 (−6.36%) |
May 5, 2026 21w ago | 6-K | $32.69 $29.87 | ▼ −8.63% | ▼ −11.41% | $30.61 (−6.36%) |
May 5, 2026 21w ago | 6-K | $32.69 $29.87 | ▼ −8.63% | ▼ −11.41% | $30.61 (−6.36%) |
Apr 9, 2026 25w ago | 6-K | $35.40 $32.69 | ▼ −7.66% | ▼ −15.22% | $30.61 (−13.53%) |
US Market Status
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