Triple Flag Precious Metals Corp. Q3 2026 Earnings Recap

Triple Flag’s 15% year-over-year growth in operating cash flow per share and reaffirmed trajectory toward the top half of its increased GEO guidance range likely drove the 9.0% post-earnings gain. The quarter also showed growth in revenue and adjusted EBITDA, alongside continued share repurchases.

Key Takeaways

• Q3 deliveries were 25,000 GEOs; management said the company remains on track for the top half of its increased 100,000–110,000 GEO guidance range.
• Operating cash flow per share was $0.45, up 15% year over year; revenue was $107 million, up 14%, and adjusted EBITDA was $94 million, up 22%.
• Triple Flag repurchased $20 million of shares in Q3, following $20 million in Q2. It ended the quarter with $185 million drawn on its credit facility, $20 million of cash, and $1.1 billion of available liquidity.
• Northparkes growth plans include the E22 block cave, with production expected in 2030, and a mill expansion study targeting 10–11 million tonnes per annum; both that study and the E44 study are expected by mid-2027.
• Management noted the share price does not reflect the portfolio’s underlying performance, while the company remains focused on buybacks and dividends.