Triple Flag Precious Metals Corp. (NYSE:TFPM) Receives $40.00 Average PT from Brokerages

Shares of Triple Flag Precious Metals Corp. (NYSE:TFPM) have been given an average rating of “Moderate Buy” by the eight analysts that are covering the company, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $40.00.

Several research firms have issued reports on TFPM. Wall Street Zen raised shares of Triple Flag Precious Metals from a “hold” rating to a “buy” rating in a report on Saturday. Weiss Ratings downgraded shares of Triple Flag Precious Metals from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, June 12th. Canaccord Genuity Group raised shares of Triple Flag Precious Metals from a “hold” rating to a “buy” rating in a report on Friday, June 12th. BMO Capital Markets reaffirmed a “market perform” rating on shares of Triple Flag Precious Metals in a report on Friday, June 12th. Finally, Zacks Research downgraded shares of Triple Flag Precious Metals from a “strong-buy” rating to a “hold” rating in a report on Thursday, April 9th.

Triple Flag Precious Metals Stock Down 0.0%

TFPM opened at $29.89 on Wednesday. The company has a market cap of $6.18 billion, a price-to-earnings ratio of 19.79, a PEG ratio of 3.16 and a beta of -0.22. Triple Flag Precious Metals has a 52-week low of $22.60 and a 52-week high of $41.70. The firm’s fifty day simple moving average is $31.50 and its two-hundred day simple moving average is $34.24.

Triple Flag Precious Metals (NYSE:TFPM) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $0.45 earnings per share (EPS) for the quarter, beating 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 net margin of 68.68% and a return on equity of 12.90%. On average, research analysts forecast that Triple Flag Precious Metals will post 1.52 EPS for the current year.

Triple Flag Precious Metals Dividend Announcement

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

Hedge Funds Weigh In On Triple Flag Precious Metals

Hedge funds and other institutional investors have recently modified their holdings of the business. Assenagon Asset Management S.A. purchased a new position in shares of Triple Flag Precious Metals in the fourth quarter worth about $7,816,000. TD Asset Management Inc lifted its stake in shares of Triple Flag Precious Metals by 9.6% in the third quarter. TD Asset Management Inc now owns 671,542 shares of the company’s stock worth $19,663,000 after buying an additional 58,924 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Triple Flag Precious Metals by 26.6% in the third quarter. JPMorgan Chase & Co. now owns 379,368 shares of the company’s stock worth $11,100,000 after buying an additional 79,655 shares in the last quarter. Sprott Inc. lifted its stake in shares of Triple Flag Precious Metals by 49.2% in the third quarter. Sprott Inc. now owns 1,156,609 shares of the company’s stock worth $33,844,000 after buying an additional 381,379 shares in the last quarter. Finally, U S Global Investors Inc. lifted its stake in shares of Triple Flag Precious Metals by 30.7% in the fourth quarter. U S Global Investors Inc. now owns 279,270 shares of the company’s stock worth $9,277,000 after buying an additional 65,605 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.