Triple Flag Precious Metals (NYSE:TFPM) Shares Up 8% – Time to Buy?

Shares of Triple Flag Precious Metals Corp. (NYSE:TFPM) traded up 8% on Friday . The stock traded as high as $30.24 and last traded at $30.4330. 472,387 shares were traded during mid-day trading, a decline of 26% from the average session volume of 636,485 shares. The stock had previously closed at $28.17.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Zacks Research lowered Triple Flag Precious Metals from a “strong-buy” rating to a “hold” rating in a research note on Thursday, April 9th. BMO Capital Markets reissued a “market perform” rating on shares of Triple Flag Precious Metals in a report on Friday, June 12th. Canaccord Genuity Group upgraded shares of Triple Flag Precious Metals from a “hold” rating to a “buy” rating in a research note on Friday, June 12th. Weiss Ratings cut shares of Triple Flag Precious Metals from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, June 12th. Finally, Wall Street Zen lowered shares of Triple Flag Precious Metals from a “buy” rating to a “hold” rating in a research report on Saturday, June 6th. Five analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $40.00.

Triple Flag Precious Metals Price Performance

The company has a market cap of $6.23 billion, a price-to-earnings ratio of 19.96, a price-to-earnings-growth ratio of 2.97 and a beta of -0.22. The business has a 50 day simple moving average of $31.61 and a 200 day simple moving average of $34.26.

Triple Flag Precious Metals (NYSE:TFPM) last announced its earnings results on Tuesday, May 5th. The company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $147.00 million. As a group, sell-side analysts anticipate that Triple Flag Precious Metals Corp. will post 1.52 earnings per share for the current fiscal year.

Triple Flag Precious Metals Dividend Announcement

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

Institutional Trading of Triple Flag Precious Metals

A number of hedge funds and other institutional investors have recently modified their holdings of TFPM. Banque Cantonale Vaudoise acquired a new position in Triple Flag Precious Metals during the 1st quarter worth $33,000. Quarry LP bought a new position in Triple Flag Precious Metals in the third quarter valued at about $33,000. Aventura Private Wealth LLC bought a new position in Triple Flag Precious Metals in the fourth quarter valued at about $38,000. EverSource Wealth Advisors LLC increased its position in Triple Flag Precious Metals by 120.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,217 shares of the company’s stock worth $40,000 after purchasing an additional 664 shares during the period. Finally, Caitlin John LLC acquired a new stake in Triple Flag Precious Metals in the third quarter worth about $98,000. 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.