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In a remarkable display of market confidence, Triple Flag Precious Metals Corp. (TFPM) stock has reached an all-time high, touching a price level of $18.98. According to InvestingPro data, the company boasts an impressive 85.79% gross profit margin and has achieved substantial revenue growth of 31.84% over the last twelve months. This milestone underscores a period of significant growth for the company, which has seen its stock value surge by 40.21% over the past year. Investors have rallied behind TFPM, buoyed by the company’s strong performance and favorable market conditions for precious metals, propelling the stock to unprecedented heights. The all-time high represents a key achievement for Triple Flag, though InvestingPro analysis indicates the stock may be overvalued at current levels. For deeper insights into TFPM’s valuation and 12 additional exclusive ProTips, explore the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Triple Flag Precious Metals Corp. announced the acquisition of a 0.5% gross overriding revenue royalty on the Tres Quebradas lithium project in Argentina. The acquisition, costing $28 million, is expected to close in the first quarter of 2025. This project, owned by Zijin Mining Group Co., Ltd., is a high-grade lithium brine asset with a significant reserve life. Zijin has invested over $600 million in its development, aiming for an annual production capacity of 20,000 tonnes of battery-grade lithium carbonate in Phase 1. The royalty revenue from this phase is anticipated to begin in the second half of 2025, with a projected ramp-up to a steady-state of approximately 1,000 gold equivalent ounces per year over three years. There is potential for production capacity expansion to between 40,000 and 60,000 tonnes in Phase 2. This acquisition marks a strategic move for Triple Flag, highlighting its growing relationship with Zijin, a major producer of precious, base, and critical metals.
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