Scotiabank Has Optimistic Outlook of TFPM FY2024 Earnings

Triple Flag Precious Metals Corp. (NYSE:TFPM) – Scotiabank upped their FY2024 earnings per share estimates for shares of Triple Flag Precious Metals in a report released on Wednesday, January 8th. Scotiabank analyst T. Jakusconek now expects that the company will post earnings per share of $0.54 for the year, up from their previous estimate of $0.53. The consensus estimate for Triple Flag Precious Metals’ current full-year earnings is $0.56 per share. Scotiabank also issued estimates for Triple Flag Precious Metals’ FY2025 earnings at $0.70 EPS and FY2026 earnings at $0.75 EPS.

Triple Flag Precious Metals (NYSE:TFPM) last released its earnings results on Tuesday, November 5th. The company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.01. Triple Flag Precious Metals had a negative net margin of 22.15% and a positive return on equity of 5.51%. The company had revenue of $73.67 million for the quarter. During the same quarter last year, the firm posted $0.09 EPS.

Separately, Jefferies Financial Group increased their price target on Triple Flag Precious Metals from $20.00 to $22.00 and gave the company a “buy” rating in a report on Friday, October 4th.

Triple Flag Precious Metals Stock Performance

NYSE:TFPM opened at $15.35 on Friday. Triple Flag Precious Metals has a 1 year low of $11.75 and a 1 year high of $18.88. The company has a market cap of $3.09 billion, a price-to-earnings ratio of -59.04, a PEG ratio of 0.86 and a beta of -0.09. The stock’s 50 day simple moving average is $16.14 and its two-hundred day simple moving average is $16.18. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.18 and a quick ratio of 3.05.

Triple Flag Precious Metals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were issued a $0.055 dividend. This represents a $0.22 annualized dividend and a dividend yield of 1.43%. The ex-dividend date was Friday, November 29th. Triple Flag Precious Metals’s dividend payout ratio (DPR) is currently -84.62%.

Hedge Funds Weigh In On Triple Flag Precious Metals

Several institutional investors and hedge funds have recently modified their holdings of TFPM. Virtu Financial LLC grew its holdings in Triple Flag Precious Metals by 6.0% in the 3rd quarter. Virtu Financial LLC now owns 15,066 shares of the company’s stock valued at $244,000 after buying an additional 857 shares in the last quarter. Quadrature Capital Ltd boosted its position in Triple Flag Precious Metals by 3.0% in the 3rd quarter. Quadrature Capital Ltd now owns 34,800 shares of the company’s stock valued at $564,000 after buying an additional 1,000 shares during the period. Versor Investments LP grew its stake in Triple Flag Precious Metals by 47.6% during the 3rd quarter. Versor Investments LP now owns 15,204 shares of the company’s stock worth $246,000 after purchasing an additional 4,904 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Triple Flag Precious Metals during the third quarter worth approximately $111,000. Finally, Meixler Investment Management Ltd. raised its holdings in shares of Triple Flag Precious Metals by 43.7% in the 3rd quarter. Meixler Investment Management Ltd. now owns 23,862 shares of the company’s stock valued at $386,000 after purchasing an additional 7,262 shares in the last quarter. Hedge funds and other institutional investors own 82.91% of the company’s stock.

About Triple Flag Precious Metals

Triple Flag Precious Metals Corp., a precious-metals-focused streaming and royalty company, engages in acquiring and managing precious metals, streams, royalties and other mineral interests in Australia, Canada, Colombia, Cote d'Ivoire, Honduras, Mexico, Mongolia, Peru, South Africa, the United States, and internationally.