Triple Flag Precious Metals Corp. (NYSE:TFPM) delivered its ninth consecutive year of growth on Wednesday, reporting record annual revenue of $388.7 million as a historic rally in gold and silver prices boosted the value of its streaming and royalty portfolio.
The Toronto-based company sold 113,237 gold equivalent ounces (GEOs) in 2025, hitting the upper half of its annual guidance.
Growth was particularly aggressive in the fourth quarter, with revenue jumping to a record $118.9 million—a nearly 45% increase over the same period last year—as gold prices topped the $4,600 per ounce mark for the first time in January 2026.
Triple Flag’s "cornerstone" assets, Northparkes in Australia and Cerro Lindo in Peru, remained the primary engines of cash flow, while newer projects like the Arthur Gold Project in Nevada (acquired via the $305 million Orogen Royalties deal in July 2025) and the Tres Quebradas lithium project in Argentina began contributing to the bottom line.
The company ended the year with zero net debt and more than $1 billion in liquidity, a war chest management intends to use for further acquisitions as high interest rates continue to drive junior miners toward non-dilutive streaming finance.