Triple Flag Precious Metals Maintained at Buy at Stifel Canada After Ravenswood Stream Deal; Price Target at C$65

MT Newswires Live06-15

Stifel Canada on Monday reiterated its buy rating on the shares of Triple Flag Precious Metals (TFPM.TO, TFPM) and its C$65.00 price target after the company acquired a gold stream from the Ravenswood gold mine in Australia.

"Triple Flag announced the acquisition of a 5.50% gold stream on the producing Ravenswood gold mine in Queensland, Australia, for US$440Mln in upfront cash. Closing is expected in June 2026, with first deliveries commencing in Q3/26. The stream rate steps down to 3.75% after 194.2Koz delivered and to 2.50% after 253Koz, with ongoing payments of 10% of spot gold (rising to 20% after 194.2Koz). We estimate an IRR of 6.3% and NPV of US$466Mln using spot gold, with near-term economics underpinned by target cumulative deliveries of 22.9Koz over Q3/26-Q2/28. The acquisition adds immediate cash flow from a large-scale, lower-cost asset in a tier-one jurisdiction with near-mine exploration upside, which also deepens TFPM's Australian platform alongside Northparkes, Beta Hunt and Fosterville. Reflecting the addition, Triple Flag raised its 2030 outlook to 150Koz-160Koz GEOs, from 140Koz-150Koz. We view the transaction as a positive, accretive growth step," analyst Famming Zeng wrote.

(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)

Price: 42.79, Change: +2.01, Percent Change: +4.93

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Closing is expected in June 2026, with first deliveries commencing in Q3/26. The stream rate steps down to 3.75% after 194.2Koz delivered and to 2.50% after 253Koz, with ongoing payments of 10% of spot gold (rising to 20% after 194.2Koz). We estimate an IRR of 6.3% and NPV of US$466Mln using spot gold, with near-term economics underpinned by target cumulative deliveries of 22.9Koz over Q3/26-Q2/28. The acquisition adds immediate cash flow from a large-scale, lower-cost asset in a tier-one jurisdiction with near-mine exploration upside, which also deepens TFPM's Australian platform alongside Northparkes, Beta Hunt and Fosterville. Reflecting the addition, Triple Flag raised its 2030 outlook to 150Koz-160Koz GEOs, from 140Koz-150Koz. We view the transaction as a positive, accretive growth step,\" analyst Famming Zeng wrote.(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. 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