Gold stock Triple Flag Precious Metals sits in a buy zone and is near its all-time high. Thursday's choice for IBD 50 Growth Stocks To Watch has overall strong qualities that have earned it two top-level Investor's Business Daily scores.
Although Triple Flag Precious Metals stock is near a record high, a key metric suggests there's upside potential, even with its 75% gain so far this year. And a billionaire hedge fund investor has conviction in the stock.
Billionaire and Elliot Management hedge fund founder and manager Paul Singer is worth around $6.2 billion, according to Forbes. Triple Flag Precious Metals stock as of June 30 was Elliot Management's largest holding, or 18% of its portfolio, according to the company's Aug. 14 13F securities filing.
Triple Flag's IBD Accumulation/Distribution Rating of B indicates moderate institutional buying over the last 13 weeks. A hefty 81% of shares are held by mutual funds, with 230 funds owning shares as of June.
Also, the gold stock holds the best possible IBD Composite and Earnings Per Share Ratings of 99. And its Timeliness Rating of A indicates the stock has potential positive relative price performance over the next 12 months. The rating scale ranges from "A" to "E," with "A" being the highest.
Triple Flag is a gold and silver streaming and royalty company that targets cash-generating mines and projects. Its assets consist of 16 streams, 219 royalties, and 30 producing mine projects, primarily in the Americas and Australia.
The IBD 50 stock is also on the IBD MarketSurge Growth 250 and IBD Sector Leaders lists. Moreover, gold stocks have had a strong presence on the IBD Stock Spotlight, including a recent highlight of Triple Flag.
Gold stocks tend to follow gold prices. A weak U.S. dollar and market expectations of a September interest rate cut are elevating gold prices.
Out of 80 stocks in the Mining-Gold/Silver/Gems group, Triple Flag is tied for first place with AngloGold Ashanti, Agnico-Eagle Mines, and Wheaton Precious Metals. The group ranks No. 11 out of 197 industry groups tracked by Investor's Business Daily.
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Gold Stock Sits In A Buy Zone
Triple Flag stock is in the 5% buy zone up to 26.72 of an early-stage flat base with a 25.45 buy point, according to MarketSurge pattern recognition.
Meanwhile, shares continue to trade tightly after forming a three-weeks-tight pattern with a 27.17 entry. The buy point is also its record high reached on Aug. 12. These bullish patterns offer a place to add shares to an existing position, or start a partial position at an early entry.
The gold stock is above its 21-day exponential moving average. The short-term line is above its 50-day moving average, and both are trending upward, which are positive signs for the stock.
Triple Flag Reports Triple-Digit Profit Growth
Triple Flag topped second-quarter earnings and sales estimates on Aug. 6. Its 118% growth to 24 cents per share was its largest earnings increase over the last eight quarters. Revenue rose 48% to $94.1 million.
But its profit and sales growth may slow after four straight robust quarters. Wall Street projections see third-quarter revenue climbing 18%, then by 27% and 13% over the following two quarters, respectively.
Analysts forecast full-year 2025 profit of 87 cents per share, or 53% growth. But 2026 earnings estimates have recently been revised for a more modest 6% increase to 92 cents per share.
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