Zacks Research Upgrades Triple Flag Precious Metals (NYSE:TFPM) to “Hold”

Triple Flag Precious Metals (NYSE:TFPM) was upgraded by stock analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Monday,Zacks.com reports.

Other analysts have also recently issued research reports about the company. Scotiabank cut their target price on 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. 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. 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. Bank of America decreased their price target on shares of Triple Flag Precious Metals from $39.00 to $37.00 and set a “buy” rating on the stock in a research note on Thursday, July 9th. Finally, Canaccord Genuity Group upgraded Triple Flag Precious Metals from a “hold” rating to a “buy” rating in a research report on Friday, June 12th. Six analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, Triple Flag Precious Metals has an average rating of “Moderate Buy” and an average price target of $38.67.

Triple Flag Precious Metals Stock Up 0.0%

Shares of TFPM stock 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 company has a 50 day moving average price of $29.34 and a 200-day moving average price of $33.02. The firm has a market capitalization of $6.60 billion, a PE 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 announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.06. The company had revenue of $129.20 million during the quarter, compared to the consensus estimate of $129.20 million. Triple Flag Precious Metals had a return on equity of 14.09% and a net margin of 84.32%. Analysts anticipate that Triple Flag Precious Metals will post 1.44 earnings per share for the current year.

Hedge Funds Weigh In On Triple Flag Precious Metals

A number of large investors have recently made changes to their positions in the business. Banque Cantonale Vaudoise acquired a new stake in shares of Triple Flag Precious Metals in the 1st quarter worth $33,000. Quarry LP acquired a new position in Triple Flag Precious Metals during the 3rd quarter valued at about $33,000. EverSource Wealth Advisors LLC increased its position 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 buying an additional 664 shares in the last quarter. Tower Research Capital LLC TRC raised its stake 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 valued at $119,000 after buying an additional 3,086 shares during the last quarter. Finally, Caitlin John LLC boosted its holdings 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. 82.91% of the stock is owned by institutional investors and hedge funds.

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.