Triple Flag Precious Metals (NYSE:TFPM) Sets New 52-Week High – Time to Buy?

Triple Flag Precious Metals Corp. (NYSE:TFPM) shares hit a new 52-week high on Wednesday . The stock traded as high as $40.38 and last traded at $40.2240, with a volume of 157195 shares. The stock had previously closed at $39.18.

Analyst Ratings Changes

Several research firms have commented on TFPM. Scotiabank upped their price objective on Triple Flag Precious Metals from $34.00 to $43.00 and gave the company a “sector perform” rating in a research note on Monday, January 26th. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Triple Flag Precious Metals in a research note on Wednesday, February 4th. Weiss Ratings reiterated a “buy (b)” rating on shares of Triple Flag Precious Metals in a research report on Wednesday, January 21st. Zacks Research raised shares of Triple Flag Precious Metals from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 10th. Finally, BMO Capital Markets restated a “market perform” rating on shares of Triple Flag Precious Metals in a research note on Thursday, January 15th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $32.25.

Triple Flag Precious Metals Trading Up 2.3%

The stock’s 50 day moving average price is $35.74 and its two-hundred day moving average price is $31.66. The firm has a market capitalization of $8.28 billion, a price-to-earnings ratio of 33.97, a PEG ratio of 1.04 and a beta of -0.21.

Triple Flag Precious Metals (NYSE:TFPM) last released its quarterly earnings data on Wednesday, February 18th. The company reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.01. Triple Flag Precious Metals had a net margin of 61.74% and a return on equity of 10.82%. The firm had revenue of $118.92 million for the quarter, compared to the consensus estimate of $114.92 million. On average, sell-side analysts forecast that Triple Flag Precious Metals Corp. will post 0.71 earnings per share for the current fiscal year.

Triple Flag Precious Metals Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 2nd will be given a dividend of $0.0575 per share. This represents a $0.23 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Monday, March 2nd. Triple Flag Precious Metals’s payout ratio is presently 19.49%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in TFPM. Bessemer Group Inc. purchased a new stake in shares of Triple Flag Precious Metals in the 3rd quarter worth about $27,000. Quarry LP purchased a new stake in shares of Triple Flag Precious Metals in the third quarter valued at about $33,000. Employees Retirement System of Texas purchased a new stake in shares of Triple Flag Precious Metals in the second quarter valued at about $36,000. Aventura Private Wealth LLC acquired a new stake in shares of Triple Flag Precious Metals in the fourth quarter valued at approximately $38,000. Finally, EverSource Wealth Advisors LLC increased its stake in shares of Triple Flag Precious Metals by 120.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,217 shares of the company’s stock worth $40,000 after purchasing an additional 664 shares in the last quarter. Institutional investors and hedge funds own 82.91% of the company’s stock.

Triple Flag Precious Metals Company Profile

Triple Flag Precious Metals Corp. is a Toronto-based precious metals streaming and royalty company traded on the New York Stock Exchange under the ticker TFPM. The company specializes in providing upfront financing to mining operators in exchange for the right to purchase a fixed percentage of future gold and silver production at discounted prices. By structuring these streaming and royalty agreements, Triple Flag Precious Metals aims to optimize its capital deployment and maintain a predictable cost profile while benefitting from upside in precious metal prices.

Since its formation in mid-2022, Triple Flag Precious Metals has established a diversified portfolio of streaming and royalty assets across a variety of jurisdictions.