Triple Flag’s Strategic Acquisition and High-Quality Portfolio Justify Buy Rating

BMO Capital analyst Rene Cartier maintained a Buy rating on Triple Flag Precious Metals (TFPM – Research Report) yesterday and set a price target of C$33.00.

Rene Cartier has given his Buy rating due to a combination of factors including Triple Flag’s strategic acquisition of Orogen Royalties, which is expected to enhance its portfolio with the Silicon royalty. Although the Silicon royalty is in its early stages and carries some uncertainties, it presents a significant long-term opportunity with potential exploration upside. The acquisition deal, valued at C$421 million, offers a 38% premium based on April 2025 prices, indicating a favorable transaction for Triple Flag.
Furthermore, Triple Flag’s portfolio is characterized by high-quality, long-life assets with royalties and streams in stable jurisdictions, which are generally low-cost. The company is also focused on near-term production and cash flow growth, offering an above-average dividend yield. Despite some challenges with liquidity and ramp-up of certain assets, these strengths contribute to the positive outlook and justify the Buy rating.

In another report released yesterday, Jefferies also maintained a Buy rating on the stock with a $26.00 price target.

TFPM’s price has also changed moderately for the past six months – from C$25.880 to C$30.530, which is a 17.97% increase.