Billionaire Paul Singer’s Top 12 Long-Term Stock Picks

1. Triple Flag Precious Metals Corp. (NYSE:TFPM)

Elliott Management’s Stake Value: $2.17 Billion

Elliott Management First Major Purchase: 2022

Number of Hedge Fund Holders: 18

Triple Flag Precious Metals Corp. (NYSE:TFPM) is a basic materials company engaged in acquiring and managing precious metals, streams, royalties and other mineral interests. It is one of billionaire Paul Singer’s long-term stock picks, going by the 24% year-to-date gain.

The impressive performance comes from the basic materials company ramping up operations at projects such as Pumpkin Hollow and Beta Hunt. The push was the catalyst behind the company’s impressive third-quarter results on October 10, 2024. It logged a record revenue of $73.7 million on record quarterly metal sales of 29,773 gold ounces.

Triple Flag Precious Metals Corp. (NYSE:TFPM) is in a good position to keep increasing its market share thanks to another solid quarter of sales, which included sales from Northparkes, Cerro Lindo, and new streams with Allied Gold. The business is still on course to meet its 2024 gold sales target of 105,000 to 115,000 ounces.

Triple Flag Precious Metals Corp. (NYSE:TFPM) has also moved to strengthen its long-term prospects by acquiring 3% gold streams on Agbaou and Bonikro in Ivory Coast from Allied Gold Corporation. The acquisition should expand its exposure to more gold reserves as it looks to take advantage of the skyrocketing gold prices.

While we acknowledge the potential of Triple Flag Precious Metals Corp. (NYSE:TFPM), our conviction lies in the belief that under the radar AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than TFPM but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 8 Best Wide Moat Stocks to Buy Now and 30 Most Important AI Stocks According to BlackRock.

Disclosure: None. Insider Monkey focuses on uncovering the best investment ideas of hedge funds and insiders. Please subscribe to our free daily e-newsletter to get the latest investment ideas from hedge funds’ investor letters by entering your email address below.