Canada's Triple Flag Q2 adj EPS and EBITDA beat estimates, revenue up 37%

The company said the acquisition of a 5.5% gold stream on the Ravenswood Mine in Australia added immediate cash flow and contributed to record GEOs and revenue.

Higher sales volumes of gold and silver drove revenue growth in the quarter.

Recent accretive transactions and investments in Australia and the U.S. also supported growth in cash flow and gold equivalent ounces sold.

The current average analyst rating on the shares is "buy," with 7 "strong buy" or "buy," 3 "hold" and no "sell" or "strong sell" recommendations.

The average consensus recommendation for the gold peer group is also "buy."

Wall Street's median 12-month price target for Triple Flag Precious Metals Corp is C$58.00, about 38% above its August 4 closing price of C$42.03.

The stock recently traded at 22 times next 12-month earnings, versus a P/E of 22 three months ago.

Canada's precious metals streamer reported second-quarter adjusted EPS and EBITDA above analyst expectations.

• Q2 revenue rose 37% year over year to $129.2 million, driven by higher gold and silver sales.
• Adjusted EPS came in at $0.39 versus a consensus estimate of $0.33.
• Adjusted net income was $80.40 million versus an estimate of $70.84 million.
• Adjusted EBITDA was $117.20 million versus an estimate of $101.54 million.