Triple Flag Precious Metals Corp. reported record fourth‑quarter 2025 revenue of $118.9 million, driven by 28,757 gold‑equivalent ounces (GEOs) sold. The company’s full‑year 2025 revenue totaled $388.7 million on 113,237 GEOs, placing it in the upper half of the 105,000‑115,000 GEOs guidance range announced earlier this year.
The quarter’s performance was anchored by a strong mix of gold and silver sales. Gold sales totaled 11,780 GEOs, generating $48.7 million in revenue, while silver sales reached 16,977 GEOs, contributing $70.2 million. On the full‑year horizon, gold sales were 72,766 GEOs ($243.0 million) and silver sales were 40,471 GEOs ($145.7 million). The high commodity price environment and the continued productivity of Triple Flag’s top‑tier assets—particularly the 16 producing mines and 223 royalty streams—enabled the company to deliver the ninth consecutive year of record GEOs.
Financially, the company remains in a strong liquidity position with nearly $1 billion in cash and cash equivalents and zero net debt. Operating margins stayed above 90%, a hallmark of the streaming and royalty model, and the company posted record operating cash flow per share for the third quarter and year‑to‑date, underscoring disciplined cost management and the upside of higher metal prices.
Management highlighted the progress of key growth projects—Arcata, Koné, Hope Bay, Goldfield, and Arthur—each reaching significant milestones that are expected to add production and cash flow in the coming years. CEO Sheldon Vanderkooy emphasized that the company’s “record gold and silver price environment” is surfacing meaningful optionality across its portfolio and that the liquidity cushion will support acquisitions in the $100‑$300 million sweet spot.
Analysts have noted the company’s robust performance and its ability to generate high operating cash flow while maintaining a net‑cash balance. The preliminary results reinforce confidence in Triple Flag’s execution strategy and its capacity to capitalize on favorable commodity prices and strategic acquisitions.
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