Triple Flag Precious Metals (NYSE:TFPM) Trading Up 8% – Here’s What Happened

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

Wall Street Analysts Forecast Growth

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

Triple Flag Precious Metals Trading Up 7.0%

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 firm’s fifty day moving average price is $31.61 and its 200-day moving average price is $34.26.

Triple Flag Precious Metals (NYSE:TFPM) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.43 by $0.02. The business had revenue of $147.00 million for the quarter, compared to the consensus estimate of $147.00 million. Triple Flag Precious Metals had a return on equity of 12.90% and a net margin of 68.68%. As a group, research analysts anticipate that Triple Flag Precious Metals Corp. will post 1.52 EPS for the current year.

Triple Flag Precious Metals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were issued a dividend of $0.0575 per share. This represents a $0.23 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Monday, June 1st. Triple Flag Precious Metals’s payout ratio is 15.23%.

Institutional Trading of Triple Flag Precious Metals

A number of large investors have recently bought and sold shares of TFPM. PFG Investments LLC lifted its position in Triple Flag Precious Metals by 3.1% in the 4th quarter. PFG Investments LLC now owns 9,149 shares of the company’s stock valued at $304,000 after acquiring an additional 279 shares in the last quarter. Linden Thomas Advisory Services LLC boosted its position in shares of Triple Flag Precious Metals by 4.2% during the fourth quarter. Linden Thomas Advisory Services LLC now owns 7,253 shares of the company’s stock worth $241,000 after buying an additional 290 shares during the period. Public Employees Retirement System of Ohio grew its holdings in shares of 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 in the last quarter. Caitlin John LLC raised its position in Triple Flag Precious Metals by 11.2% in the 4th 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 last quarter. Finally, Blue Trust Inc. raised its position in Triple Flag Precious Metals by 4.2% in the 4th quarter. Blue Trust Inc. now owns 15,163 shares of the company’s stock valued at $504,000 after buying an additional 609 shares during the last quarter. 82.91% of the stock is owned by institutional investors.

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.