Triple Flag Precious Metals Corp. (TFPM) recently disclosed its Q3 2023 financial results, revealing a dividend of US$0.0525 per share to be paid on December 15, 2023. The company's CEO, Shaun Usmar, announced the dividend despite the ongoing care phase at the Renard diamond mine and expressed optimism about meeting the full-year Gold Equivalent Ounces (GEOs) sales guidance of between 100,000 and 115,000 ounces.
The company's revenue for the quarter stood at $49.4M with GEOs totaling 25,629. Operating cash flow reached $36.8M while a net loss of $6M was recorded. Adjusted net earnings were reported at $17.3M (NYSE:MMM) and adjusted EBITDA amounted to $38.8M. The asset margin remained consistent at 90%.
This year, TFPM made significant acquisitions, including a 2.65% royalty at Australia's Stawell Gold Mine (SGM), which underwent mill refurbishment in 2019 and has an ongoing exploration program; the Agbaou royalty; and the Maverix deal. These transactions total nearly $700 million in value.
Sales from the recently acquired Royal Bafokeng Platinum (RBPlat), now part of Impala Platinum (OTC:IMPUY) on the Western Limb of the Bushveld Igneous Complex, were reported to be 1,632 GEOs. The cash acquisition of SGM cost $16.6 million and includes a Net Smelter Return (NSR) royalty with a forecasted gold production of 70,000 ounces over a ten-year mine life.
TFPM continues to hold a strong position in Sustainalytics’ Environmental, Social, and Governance (ESG) risk rating, ranking third globally. The firm's yearly sales outlook remains robust, with over 140,000 GEOs projected from 2024-2028.
InvestingPro Insights
Our InvestingPro data reveals that TFPM has a market capitalization of 2580M USD and a P/E ratio of 39.5, indicating a high earnings multiple. The company has seen a revenue growth of 21.66% over the last twelve months as of Q2 2023, with a total revenue of 180.5M USD. The Gross Profit Margin for the same period stands at 83.7%.
InvestingPro Tips suggest that TFPM's revenue growth has been accelerating, which aligns with the company's strong sales outlook. Despite four analysts revising their earnings downwards for the upcoming period, the company is expected to be profitable this year. It's also worth noting that the stock generally trades with low price volatility, which might be appealing for risk-averse investors.
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