Triple Flag Precious Metals (NYSE:TFPM) Hits New 1-Year High – Here’s What Happened

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

Analyst Ratings Changes

TFPM has been the subject of several recent research reports. Weiss Ratings reissued a “buy (b)” rating on shares of Triple Flag Precious Metals in a research report on Wednesday, January 21st. Scotiabank lifted their price objective on Triple Flag Precious Metals from $34.00 to $43.00 and gave the stock a “sector perform” rating in a research report on Monday, January 26th. 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. BMO Capital Markets reaffirmed a “market perform” rating on shares of Triple Flag Precious Metals in a research note on Thursday, January 15th. Finally, Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Triple Flag Precious Metals in a report on Wednesday, February 4th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.25.

Triple Flag Precious Metals Stock Performance

The company’s fifty 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 PE ratio of 33.97, a price-to-earnings-growth ratio of 1.04 and a beta of -0.21.

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

Triple Flag Precious Metals Dividend Announcement

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

Institutional Investors Weigh In On Triple Flag Precious Metals

Several institutional investors and hedge funds have recently added to or reduced their stakes in TFPM. Virtu Financial LLC acquired a new position in shares of Triple Flag Precious Metals in the 4th quarter valued at about $707,000. Caitlin John LLC raised its holdings 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 buying an additional 375 shares during the period. NewEdge Advisors LLC lifted its position in Triple Flag Precious Metals by 4,948.8% during the fourth quarter. NewEdge Advisors LLC now owns 6,311 shares of the company’s stock valued at $210,000 after buying an additional 6,186 shares in the last quarter. Oxford Asset Management LLP lifted its position in Triple Flag Precious Metals by 25.1% during the fourth quarter. Oxford Asset Management LLP now owns 24,438 shares of the company’s stock valued at $812,000 after buying an additional 4,904 shares in the last quarter. Finally, IHT Wealth Management LLC purchased a new stake in Triple Flag Precious Metals during the fourth quarter worth approximately $208,000. 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.