Brokerages Set Triple Flag Precious Metals Corp. (NYSE:TFPM) PT at $38.67

by · The Markets Daily

Triple Flag Precious Metals Corp. (NYSE:TFPM – Get Free Report) has been assigned a consensus recommendation of “Moderate Buy” from the nine ratings firms that are presently covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $38.6667.

A number of brokerages recently commented on TFPM. Jefferies Financial Group decreased their price objective on Triple Flag Precious Metals from $43.00 to $40.00 and set a “buy” rating for the company in a research note on Monday, July 6th. Bank of America reduced their target price on Triple Flag Precious Metals from $39.00 to $37.00 and set a “buy” rating on the stock in a report on Thursday, July 9th. Wall Street Zen lowered Triple Flag Precious Metals from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Triple Flag Precious Metals in a research note on Wednesday. Finally, Scotiabank cut their price target on shares of Triple Flag Precious Metals from $43.00 to $39.00 and set a “sector perform” rating on the stock in a research report on Tuesday, July 14th.

Get Our Latest Stock Report on Triple Flag Precious Metals

Triple Flag Precious Metals Price Performance

TFPM opened at $33.84 on Monday. The firm has a 50 day simple moving average of $31.14 and a 200 day simple moving average of $32.54. Triple Flag Precious Metals has a fifty-two week low of $26.61 and a fifty-two week high of $41.70. The company has a market cap of $6.97 billion, a price-to-earnings ratio of 17.01, a price-to-earnings-growth ratio of 2.99 and a beta of -0.15.

Triple Flag Precious Metals (NYSE:TFPM – Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.06. Triple Flag Precious Metals had a net margin of 84.32% and a return on equity of 14.09%. The firm had revenue of $129.20 million for the quarter, compared to analysts’ expectations of $129.20 million. As a group, analysts expect that Triple Flag Precious Metals will post 1.43 EPS for the current year.

Triple Flag Precious Metals Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be paid a $0.06 dividend. The ex-dividend date of this dividend is Monday, August 31st. This is a boost from Triple Flag Precious Metals’s previous quarterly dividend of $0.06. This represents a $0.24 annualized dividend and a yield of 0.7%. Triple Flag Precious Metals’s payout ratio is currently 12.06%.

Hedge Funds Weigh In On Triple Flag Precious Metals

Several institutional investors and hedge funds have recently made changes to their positions in the company. Public Employees Retirement System of Ohio increased its holdings in Triple Flag Precious Metals by 2.2% during the third quarter. Public Employees Retirement System of Ohio now owns 16,751 shares of the company’s stock worth $491,000 after buying an additional 368 shares during the last quarter. Caitlin John LLC lifted its stake in Triple Flag Precious Metals by 11.2% in the fourth quarter. Caitlin John LLC now owns 3,730 shares of the company’s stock valued at $124,000 after acquiring an additional 375 shares during the last quarter. Parvin Asset Management LLC grew its position in shares of Triple Flag Precious Metals by 1.7% in the 3rd quarter. Parvin Asset Management LLC now owns 38,940 shares of the company’s stock valued at $1,139,000 after acquiring an additional 650 shares during the period. Cetera Investment Advisers grew its position in shares of Triple Flag Precious Metals by 9.2% in the 1st quarter. Cetera Investment Advisers now owns 7,784 shares of the company’s stock valued at $270,000 after acquiring an additional 655 shares during the period. 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 during the last quarter. Institutional investors and hedge funds own 82.91% of the company’s stock.

About Triple Flag Precious Metals

(Get Free Report)

Triple Flag Precious Metals Corp. is a precious-metals streaming and royalty company. It provides financing to mining companies in exchange for the right to purchase a portion of future metal production at predetermined prices or to receive revenue-based payments from mining operations.

The company’s portfolio is primarily focused on gold and silver, with additional exposure to other metals produced as byproducts of its investments. Its interests span a range of mining assets and projects in jurisdictions including North America, South America, Australia and Africa.

Triple Flag was established in 2016 and is headquartered in Toronto, Canada.

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