Triple Flag Precious Metals (NYSE:TFPM) Rating Increased to Hold at Zacks Research

Zacks Research upgraded shares of Triple Flag Precious Metals (NYSE:TFPM) from a strong sell rating to a hold rating in a research note published on Monday,Zacks.com reports.

Several other equities analysts have also recently commented on TFPM. Jefferies Financial Group reduced their price objective on shares of 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. Wall Street Zen cut shares of Triple Flag Precious Metals from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Bank of America cut their price target on shares of Triple Flag Precious Metals from $39.00 to $37.00 and set a “buy” rating for the company in a report on Thursday, July 9th. Scotiabank reduced their price target on shares of Triple Flag Precious Metals from $43.00 to $39.00 and set a “sector perform” rating for the company in a research report on Tuesday, July 14th. Finally, Weiss Ratings downgraded Triple Flag Precious Metals from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, June 12th. Six research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $38.67.

Triple Flag Precious Metals Stock Up 0.0%

Shares of NYSE TFPM opened at $32.02 on Monday. Triple Flag Precious Metals has a 52 week low of $24.75 and a 52 week high of $41.70. The business has a 50-day simple moving average of $29.34 and a two-hundred day simple moving average of $33.02. The company has a market cap of $6.60 billion, a P/E ratio of 16.09, a P/E/G ratio of 2.80 and a beta of -0.18.

Triple Flag Precious Metals (NYSE:TFPM) last posted its earnings results on Wednesday, August 5th. The company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.06. Triple Flag Precious Metals had a return on equity of 14.09% and a net margin of 84.32%.The business had revenue of $129.20 million during the quarter, compared to analyst estimates of $129.20 million. Equities research analysts anticipate that Triple Flag Precious Metals will post 1.44 EPS for the current year.

Triple Flag Precious Metals Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be paid a $0.06 dividend. This is an increase from Triple Flag Precious Metals’s previous quarterly dividend of $0.06. This represents a $0.24 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Monday, August 31st. Triple Flag Precious Metals’s payout ratio is 11.56%.

Hedge Funds Weigh In On Triple Flag Precious Metals

A number of hedge funds and other institutional investors have recently bought and sold shares of TFPM. Banque Cantonale Vaudoise bought a new position in shares of Triple Flag Precious Metals in the 1st quarter worth $33,000. Quarry LP bought a new stake in shares of Triple Flag Precious Metals during the 3rd quarter worth $33,000. EverSource Wealth Advisors LLC lifted its holdings 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 acquiring an additional 664 shares during the last quarter. Tower Research Capital LLC TRC grew its position in Triple Flag Precious Metals by 160.0% in the second quarter. Tower Research Capital LLC TRC now owns 5,015 shares of the company’s stock worth $119,000 after acquiring an additional 3,086 shares in the last quarter. Finally, Caitlin John LLC grew its position 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 worth $124,000 after acquiring an additional 375 shares in the last quarter. Hedge funds and other institutional investors own 82.91% of the company’s stock.

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.