Triple Flag Precious Metals (NYSE:TFPM) Trading Down 5% – Here’s Why

Triple Flag Precious Metals Corp. (NYSE:TFPM) shares fell 5% on Monday . The company traded as low as $29.88 and last traded at $29.93. 477,992 shares traded hands during trading, a decline of 28% from the average session volume of 662,474 shares. The stock had previously closed at $31.49.

Analysts Set New Price Targets

Several equities analysts recently commented on TFPM shares. Wall Street Zen upgraded shares of Triple Flag Precious Metals from a “hold” rating to a “buy” rating in a research note on Saturday, June 27th. Zacks Research lowered shares of Triple Flag Precious Metals from a “strong-buy” rating to a “hold” rating in a research report on Thursday, April 9th. BMO Capital Markets reaffirmed a “market perform” rating on shares of Triple Flag Precious Metals in a report on Friday, June 12th. Canaccord Genuity Group upgraded shares of Triple Flag Precious Metals from a “hold” rating to a “buy” rating in a research report on Friday, June 12th. Finally, Jefferies Financial Group cut their price target on Triple Flag Precious Metals from $43.00 to $40.00 and set a “buy” rating for the company in a research note on Monday. Six analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $40.00.

Triple Flag Precious Metals Price Performance

The firm has a market cap of $5.72 billion, a P/E ratio of 18.36, a PEG ratio of 3.18 and a beta of -0.19. The company’s 50-day moving average is $30.86 and its two-hundred day moving average is $34.06.

Triple Flag Precious Metals (NYSE:TFPM) last released its earnings results on Tuesday, May 5th. The company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.43 by $0.02. Triple Flag Precious Metals had a net margin of 68.68% and a return on equity of 12.90%. The firm had revenue of $147.00 million for the quarter, compared to analyst estimates of $147.00 million. On average, analysts expect that Triple Flag Precious Metals Corp. will post 1.53 EPS for the current fiscal year.

Triple Flag Precious Metals Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were given a dividend of $0.0575 per share. This represents a $0.23 annualized dividend and a yield of 0.8%. The ex-dividend date was Monday, June 1st. Triple Flag Precious Metals’s payout ratio 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. Banque Cantonale Vaudoise acquired a new stake in Triple Flag Precious Metals in the first quarter valued at about $33,000. Quarry LP bought a new position in shares of Triple Flag Precious Metals in the third quarter worth about $33,000. Aventura Private Wealth LLC acquired a new stake in shares of Triple Flag Precious Metals in the 4th quarter valued at approximately $38,000. EverSource Wealth Advisors LLC boosted its stake in shares of Triple Flag Precious Metals by 120.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,217 shares of the company’s stock valued at $40,000 after purchasing an additional 664 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its holdings in shares of Triple Flag Precious Metals by 160.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,015 shares of the company’s stock valued at $119,000 after purchasing an additional 3,086 shares during the last quarter. 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.