Company Overview - Triple Flag Precious Metals is a leading precious metals streaming and royalty company headquartered in Toronto, Canada, leveraging a scalable, asset-light model to provide diversified exposure to gold and silver production without the operational risks of traditional mining [5] - The company has a broad portfolio of 78 assets, including 9 streams and 69 royalties, providing significant exposure to the global precious metals sector [5][7] - As of February 12, 2026, the market capitalization of Triple Flag Precious Metals is $7.38 billion, with a revenue of $388.70 million and a net income of $240.00 million [4] Recent Transaction - On February 13, 2026, Global Strategic Management Inc disclosed a new position in Triple Flag Precious Metals by acquiring 323,309 shares for an estimated $10.73 million based on quarterly average pricing [1][2] - This acquisition represents 8.95% of Global Strategic Management Inc's 13F reportable assets under management as of December 31, 2025 [3] Stock Performance - As of February 12, 2026, shares of Triple Flag Precious Metals were priced at $34.60, reflecting a 102.0% increase over the past year, with an alpha of 89.08 percentage points versus the S&P 500 [3] - The stock has advanced by 139% over the last year and is up 24% since January 1, 2026, indicating strong performance correlated to the price of precious metals [9]

Armor Advisors L.L.C. lessened its holdings in shares of Royal Gold, Inc. (NASDAQ:RGLD – Free Report) (TSE:RGL) by 7.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 58,805 shares of the basic materials company’s stock after selling 4,800 shares during the quarter. Royal Gold accounts for approximately 6.6% of Armor Advisors L.L.C.’s holdings, making the stock its 4th largest holding. Armor Advisors L.L.C. owned 0.09% of Royal Gold wo ...

Core Insights - Royal Gold, Inc. (RGLD) shares reached a new 52-week high of $224.77, closing at $218.75, driven by near-record gold prices [1][11] - The company has a market capitalization of $18.5 billion and holds a Zacks Rank 1 (Strong Buy) [1] Financial Performance - In Q3 2025, RGLD reported adjusted earnings per share (EPS) of $2.06, up from $1.47 in the same quarter last year [2] - The company generated record revenues of $252 million, reflecting a 30% year-over-year increase, attributed to higher average metal prices and increased production [2] - Stream revenues were $166 million, a 24.8% increase year-over-year, while royalty revenues rose to $86 million, up 41.5% [3] Financial Position - Royal Gold's total liquidity exceeded $813 million as of September 30, 2025, comprising $188 million in working capital and $625 million available under a revolving credit facility [4] - The company has a total debt of $750 million [4] Strategic Moves - In November 2025, Royal Gold's subsidiary, International Royalty Corporation, sold shares of Versamet Royalties Corporation, aiding in debt repayment [5] - On October 20, 2025, Royal Gold acquired Sandstorm Gold Ltd. and Horizon Copper Corp., adding 40 producing assets to its portfolio [6][7] - The acquisitions are expected to increase gold equivalent ounces (GEO) production by 26% in 2025, with anticipated GEO production of 65,000-80,000 [7] Market Conditions - Gold prices have surged 63.9% year-to-date, currently trending near a record $4,345 per ounce, supported by geopolitical tensions and central bank purchases [8] - Silver prices have increased by 90.8% year-to-date, driven by strong demand and supply deficits, currently trading above $63 [9] - The rise in gold and silver prices is expected to positively impact Royal Gold's results in upcoming quarters [9]

Corporate Updates - Summit Royalties Ltd. has completed a go-public transaction via a reverse takeover and will commence trading on the TSX Venture Exchange under the symbol "SUM" on November 10, 2025 [1][2] - The common shares have been delisted from the Canadian Securities Exchange as of market close on November 7, 2025 [3] Board Appointments - Jerrold Annett has been appointed as Chairman of the Board, bringing over 30 years of mining and capital markets experience [4][5] - The Board includes Drew Clark, Blair Zaritsky, Stephen Eddy, and Russell Mills [4] Strategic Vision - Jerrold Annett expressed confidence in the company's potential, highlighting the establishment of a cash-flowing royalty business with 47 royalties [5] - The company aims to capitalize on favorable market conditions and record metal prices to drive growth [5][6] Committee Formation - The Board has formed three committees: Audit Committee, Compensation Committee, and Corporate Governance & Nominating Committee [7][8] - The Audit Committee is chaired by Blair Zaritsky, the Compensation Committee by Russell Mills, and the Corporate Governance & Nominating Committee by Stephen Eddy [8] Equity Incentives - The company has granted a total of 3,262,500 options, 387,500 deferred share units, and 725,000 restricted share units to directors, officers, and consultants [7][9] - Options are exercisable for three years at a price of C$1.00 per common share, with a vesting schedule of 50% after one year and the remaining 50% after two years [9] Business Overview - Summit Royalties is a precious metals streaming and royalty company with a focus on becoming a mid-tier player through accretive acquisitions [10] - The company currently has no debt and sufficient cash for future acquisitions, backed by cash flow production from its portfolio [10]

Core Viewpoint - Triple Flag Precious Metals (TFPM) is positioned as a strong investment opportunity due to its improving earnings outlook and analysts' increasing earnings estimates [1][2]. Earnings Estimate Revisions - The trend of rising earnings estimate revisions reflects growing analyst optimism regarding the company's earnings prospects, which is expected to positively influence its stock price [2]. - For the current quarter, Triple Flag is projected to earn $0.22 per share, marking a year-over-year increase of 46.7%. The Zacks Consensus Estimate has risen by 7.32% over the last 30 days due to one upward revision and one downward revision [7]. - For the full year, the earnings estimate is $0.91 per share, indicating a year-over-year growth of 68.5%. In the past month, four estimates have been revised upward, contributing to a 5.2% increase in the consensus estimate [8][9]. Zacks Rank and Performance - Triple Flag currently holds a Zacks Rank 1 (Strong Buy), which is based on the positive estimate revisions and has historically shown strong performance, with Zacks 1 stocks averaging a 25% annual return since 2008 [3][10]. - The Zacks Rank system is designed to help investors leverage earnings estimate revisions for better investment decisions, with stocks rated 1 and 2 significantly outperforming the S&P 500 [10]. Recent Stock Performance - Over the past four weeks, Triple Flag shares have increased by 5.7%, indicating investor confidence in the company's earnings growth potential [11].

Core Viewpoint - Triple Flag Precious Metals (TFPM) has been upgraded to a Zacks Rank 2 (Buy), indicating a positive trend in earnings estimates which is a significant factor influencing stock prices [1][3]. Earnings Estimates and Stock Performance - The Zacks rating system emphasizes the importance of earnings estimate revisions, which have shown a strong correlation with near-term stock price movements [4][6]. - For the fiscal year ending December 2025, Triple Flag is expected to earn $0.83 per share, with a 13.5% increase in the Zacks Consensus Estimate over the past three months [8]. Zacks Rating System - The Zacks Rank system classifies stocks into five groups based on earnings estimates, with Zacks Rank 1 (Strong Buy) stocks historically generating an average annual return of +25% since 1988 [7]. - The upgrade of Triple Flag to a Zacks Rank 2 places it in the top 20% of Zacks-covered stocks, suggesting potential for market-beating returns in the near term [10].

Group 1: Price Trend and Technical Analysis - Franco-Nevada (FNV) has experienced a bearish price trend, losing 6.4% over the past two weeks, but a hammer chart pattern suggests a potential trend reversal as bulls may have gained control [1] - The hammer pattern indicates a nearing bottom with likely subsiding selling pressure, which supports a bullish case for the stock [2] - Hammer candles signal that bears might have lost control over the price, indicating a potential trend reversal when formed at the bottom of a downtrend [5] Group 2: Fundamental Analysis - There has been an upward trend in earnings estimate revisions for FNV, which is considered a bullish indicator as it typically leads to price appreciation [7] - The consensus EPS estimate for the current year has increased by 4.8% over the last 30 days, indicating strong agreement among Wall Street analysts regarding the company's potential for better earnings [8] - FNV holds a Zacks Rank 1 (Strong Buy), placing it in the top 5% of over 4,000 ranked stocks, which usually outperform the market [9][10]

Core Viewpoint - Royal Gold, Inc. (RGLD) has announced agreements to acquire Sandstorm Gold Ltd. (SAND) and Horizon Copper Corp, reinforcing its position as a leading North American precious metal streaming and royalty company [1] Group 1: Details of Transactions - RGLD plans to acquire Sandstorm Gold in an all-stock deal, offering 0.0625 Royal Gold shares for each Sandstorm share, implying a $3.5 billion equity value and a 21% premium based on the 20-day VWAP [2] - The acquisition of Horizon Copper is a cash deal worth C$2.00 per share, representing an 85% premium to Horizon Copper's 20-day VWAP and a 72% premium to its July 4, 2025, closing price, valued at around $196 million [3] - Both transactions are expected to complete in the fourth quarter of 2025, with the closing of the Horizon Copper deal subject to conditions and the completion of the Sandstorm Gold transaction [3] Group 2: Benefits of the Deal - The acquisitions will create a diversified global precious metals portfolio for Royal Gold with significant growth and exploration potential [4] - The deal will add 40 producing assets to Royal Gold's portfolio, expected to generate gold equivalent ounces (GEO) of 65,000-80,000 in 2025, increasing GEO production by 26% based on midpoints of 2025 guidance [5] - Post-transaction, the revenue mix is anticipated to be 87% from precious metals, with gold accounting for 75% of total revenues [5] Group 3: Financial Position - Upon closing, Royal Gold expects a low debt balance and a manageable debt-to-EBITDA ratio, providing financial flexibility for further growth and major transactions in the industry [6] Group 4: Stock Performance - Over the past year, shares of Royal Gold have gained 29.6%, compared to the industry's growth of 48.1% [7]

Group 1: Gold as an Investment - Gold is perceived as a safe-haven investment during economic and political uncertainty, with various ownership methods available, including bullion and mining companies [1] - Gold itself does not generate value beyond its price change, making its value solely dependent on market fluctuations [2] - Owning physical gold, such as coins, can incur storage and transaction fees, making it a less efficient investment method [3][5] Group 2: Investment Alternatives - Investing in gold mining stocks offers growth potential, as financial performance is linked to metal prices, with opportunities for new mines and acquisitions [6] - Streaming and royalty companies like Franco-Nevada present a more favorable investment option, as they provide upfront cash to miners in exchange for future metal purchases at advantageous prices [7][9] Group 3: Franco-Nevada's Business Model - Franco-Nevada has a sustainable business model, evidenced by its 18 consecutive years of annual dividend increases, although the dividend yield is relatively low at 0.9% [10] - The company diversifies its investments across gold, silver, energy, and other metals, providing broader commodity exposure compared to peers [12][13] Group 4: Investment Considerations - A $10,000 investment in Franco-Nevada, priced around $170 per share, would yield approximately 58 shares, offering peace of mind through diversification in a volatile market [15]