11:25 AM EDT, 04/09/2025 (MT Newswires) -- (Adds comment and updates shares.)

Triple Flag Precious Metals ( TFPM ) said Wednesday it booked record revenue for the first quarter.

Triple Flag reported first-quarter revenue of US$82.2 million on gold equivalent sales of 28,761 ounces. The company's sales included 21,944 ounces of gold and 6,817 gold-equivalent ounces of silver.

Triple Flag said it is positioned to deliver per share growth amid strong precious metals prices after completing the acquisitions of royalty streams on the Arcata, Azuca and Tres Quebradas assets.

"Our business achieved record revenue to start the year," said chief executive Sheldon Vanderkooy. "Triple Flag is on track to deliver 2025 GEOs guidance of 105,000 to 115,000 ounces."

National Bank of Canada kept its outperform rating and $32.50 price target on Sandstorm shares following the results..

National Bank said it expects the company to end the year with a net cash position and over US$700 million of available liquidity.

"We continue to see further consolidation of the industry and expect the company's ambitious management team to play an integral role in adding additional scale/multiple expansion," the bank said.

Triple Flag shares were last seen up $1.50 to $27.70 on the Toronto Stock Exchange.

Price: 27.65, Change: +1.45, Percent Change: +5.53