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

Shares of Triple Flag Precious Metals Corp. (NYSE:TFPM) have been given an average recommendation of “Moderate Buy” by the twelve brokerages that are presently covering the firm, MarketBeat reports. Four analysts have rated the stock with a hold recommendation, six have given a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $32.25.

TFPM has been the topic of a number of recent research reports. BMO Capital Markets reiterated a “market perform” rating on shares of Triple Flag Precious Metals in a report on Thursday, January 15th. Weiss Ratings restated a “buy (b)” rating on shares of Triple Flag Precious Metals in a research note on Wednesday, January 21st. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Triple Flag Precious Metals in a report on Wednesday, February 4th. Scotiabank raised their price objective on shares of 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. Finally, Zacks Research raised shares of Triple Flag Precious Metals from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 11th.

Triple Flag Precious Metals Price Performance

Shares of Triple Flag Precious Metals stock opened at $30.46 on Monday. The business has a 50-day simple moving average of $36.96 and a 200 day simple moving average of $33.07. Triple Flag Precious Metals has a one year low of $17.72 and a one year high of $41.70. The firm has a market capitalization of $6.29 billion, a price-to-earnings ratio of 25.82, a PEG ratio of 1.58 and a beta of -0.28.

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

Triple Flag Precious Metals Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 2nd were paid a dividend of $0.0575 per share. The ex-dividend date was Monday, March 2nd. This represents a $0.23 dividend on an annualized basis and a yield of 0.8%. Triple Flag Precious Metals’s payout ratio is 19.49%.

Institutional Trading of Triple Flag Precious Metals

Institutional investors and hedge funds have recently modified their holdings of the stock. Bessemer Group Inc. bought a new position in shares of Triple Flag Precious Metals in the third quarter valued at approximately $27,000. Quarry LP bought a new stake in Triple Flag Precious Metals during the third quarter worth $33,000. Employees Retirement System of Texas purchased a new stake in Triple Flag Precious Metals in the 2nd quarter valued at $36,000. Aventura Private Wealth LLC bought a new position in Triple Flag Precious Metals during the 4th quarter valued at $38,000. Finally, EverSource Wealth Advisors LLC lifted its stake in 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 valued at $40,000 after acquiring an additional 664 shares in the last quarter. 82.91% of the stock is owned by hedge funds and other institutional investors.

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.