Triple Flag Precious Metals Corp. (NYSE:TFPM) Receives Average Rating of “Moderate Buy” from Brokerages

Triple Flag Precious Metals Corp. (NYSE:TFPM) has received an average rating of “Moderate Buy” from the eight analysts that are presently covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $40.00.

Several equities analysts have recently issued reports on TFPM shares. Weiss Ratings cut Triple Flag Precious Metals from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, June 12th. Zacks Research cut Triple Flag Precious Metals from a “strong-buy” rating to a “hold” rating in a report on Thursday, April 9th. BMO Capital Markets restated a “market perform” rating on shares of Triple Flag Precious Metals in a report on Friday, June 12th. Canaccord Genuity Group upgraded Triple Flag Precious Metals from a “hold” rating to a “buy” rating in a report on Friday, June 12th. Finally, Wall Street Zen cut Triple Flag Precious Metals from a “buy” rating to a “hold” rating in a report on Saturday, June 6th.

Triple Flag Precious Metals Stock Performance

Shares of TFPM stock opened at $28.81 on Wednesday. Triple Flag Precious Metals has a 1 year low of $22.60 and a 1 year high of $41.70. The stock has a market cap of $5.95 billion, a PE ratio of 19.08, a price-to-earnings-growth ratio of 3.16 and a beta of -0.22. The business’s fifty day moving average is $31.91 and its 200-day moving average is $34.33.

Triple Flag Precious Metals (NYSE:TFPM) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.02. Triple Flag Precious Metals had a return on equity of 12.90% and a net margin of 68.68%.The company had revenue of $147.00 million for the quarter, compared to analysts’ expectations of $147.00 million. Equities research analysts predict that Triple Flag Precious Metals will post 1.52 earnings per share for the current year.

Triple Flag Precious Metals Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were issued a $0.0575 dividend. This represents a $0.23 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Monday, June 1st. Triple Flag Precious Metals’s payout ratio is presently 15.23%.

Hedge Funds Weigh In On Triple Flag Precious Metals

A number of hedge funds have recently modified their holdings of the stock. Bank of America Corp DE grew its holdings in shares of Triple Flag Precious Metals by 30.7% in the 1st quarter. Bank of America Corp DE now owns 495,404 shares of the company’s stock worth $17,195,000 after acquiring an additional 116,421 shares during the last quarter. Amundi boosted its position in shares of Triple Flag Precious Metals by 5.7% in the first quarter. Amundi now owns 482,534 shares of the company’s stock worth $16,828,000 after buying an additional 25,936 shares during the period. Parvin Asset Management LLC boosted its position in shares of Triple Flag Precious Metals by 2.0% in the first quarter. Parvin Asset Management LLC now owns 39,965 shares of the company’s stock worth $1,387,000 after buying an additional 800 shares during the period. EverSource Wealth Advisors LLC boosted its position in shares of Triple Flag Precious Metals by 60.0% in the first quarter. EverSource Wealth Advisors LLC now owns 1,947 shares of the company’s stock worth $68,000 after buying an additional 730 shares during the period. Finally, Evelyn Partners Asset Management Ltd boosted its position in shares of Triple Flag Precious Metals by 33.3% in the first quarter. Evelyn Partners Asset Management Ltd now owns 4,000 shares of the company’s stock worth $139,000 after buying an additional 1,000 shares during the period. 82.91% of the stock is currently owned by institutional investors and hedge funds.

About Triple Flag Precious Metals

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.