New Trade for April 17th, 2023

Gold has been making headlines lately, with the spot price reaching a 52-week high of $2021.82 per ounce on April 4th. However, the price has since fallen and is hovering around the $2000 mark as investors await the next round of economic data. Despite the short-term volatility, experts remain optimistic about gold’s long-term prospects. In fact, many believe that gold will continue to push higher in 2023. 

Today we’ll highlight a desirable gold name providing investors with both capital appreciation and steady income. So, whether you’re a seasoned investor or just getting started, you’ll want to keep an eye on this stock as you navigate the gold market in the coming months.

Triple Flag Precious Metals Corp. (TFPM) 

Toronto-based Triple Flag serves as a finance partner to facilitate the development and expansion of mining projects. With a focus on cash-generating mines and fully permitted projects that can produce cash flow within two years, the company seeks prudent investments in earlier stages of the mine life cycle to maintain exposure to development-stage assets and grow free cash flow per share over the long term. 

While risks include precious metal price volatility, competition from the royalty and streaming sector, and ramp-up issues at its mines, catalysts could include higher-than-expected gold and silver prices, future exploration discoveries, and unexpected mine expansions and acquisitions. TFPM investors enjoy a 1.3% dividend yield. 

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