Triple Flag Precious Metals (NYSE:TFPM) Issues Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Triple Flag Precious Metals (NYSE:TFPM) announced its earnings results on Tuesday. The company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.22 by $0.02, Zacks reports. Triple Flag Precious Metals had a net margin of 53.11% and a return on equity of 8.81%. The business had revenue of $93.50 million during the quarter, compared to analysts’ expectations of $87.46 million.

Triple Flag Precious Metals Stock Up 2.6%

Shares of TFPM traded up $0.71 during trading hours on Wednesday, hitting $27.94. The company had a trading volume of 156,670 shares, compared to its average volume of 477,462. The firm has a market cap of $5.77 billion, a price-to-earnings ratio of 32.48, a PEG ratio of 0.88 and a beta of -0.18. The business has a fifty day moving average of $28.88 and a 200-day moving average of $25.28. Triple Flag Precious Metals has a 12 month low of $14.51 and a 12 month high of $33.51.

Triple Flag Precious Metals Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be given a $0.0575 dividend. The ex-dividend date of this dividend is Monday, December 1st. This represents a $0.23 annualized dividend and a dividend yield of 0.8%. Triple Flag Precious Metals’s dividend payout ratio is presently 26.74%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Bank of America increased their target price on shares of Triple Flag Precious Metals from $33.00 to $37.00 and gave the stock a “buy” rating in a report on Thursday, October 16th. CIBC restated an “outperform” rating on shares of Triple Flag Precious Metals in a report on Tuesday, July 15th. Weiss Ratings restated a “buy (b)” rating on shares of Triple Flag Precious Metals in a report on Wednesday, October 8th. Zacks Research upgraded shares of Triple Flag Precious Metals from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 25th. Finally, Raymond James Financial reaffirmed an “outperform” rating on shares of Triple Flag Precious Metals in a research report on Friday, October 10th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $27.25.

Hedge Funds Weigh In On Triple Flag Precious Metals

Several large investors have recently modified their holdings of the stock. Osaic Holdings Inc. raised its position in shares of Triple Flag Precious Metals by 4,954.7% in the second quarter. Osaic Holdings Inc. now owns 5,914 shares of the company’s stock valued at $140,000 after purchasing an additional 5,797 shares during the period. Tower Research Capital LLC TRC raised its position in shares of Triple Flag Precious Metals by 160.0% in the second quarter. Tower Research Capital LLC TRC now owns 5,015 shares of the company’s stock valued at $119,000 after purchasing an additional 3,086 shares during the period. Man Group plc bought a new position in shares of Triple Flag Precious Metals in the second quarter valued at about $408,000. Engineers Gate Manager LP raised its position in shares of Triple Flag Precious Metals by 20.5% in the second quarter. Engineers Gate Manager LP now owns 12,090 shares of the company’s stock valued at $286,000 after purchasing an additional 2,055 shares during the period. Finally, Benjamin Edwards Inc. bought a new position in shares of Triple Flag Precious Metals in the second quarter valued at about $222,000. 82.91% of the stock is owned by institutional investors.

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.