Triple Flag Precious Metals (NYSE:TFPM) Price Target Raised to $41.00 at Royal Bank Of Canada

Triple Flag Precious Metals (NYSE:TFPM) had its target price raised by equities research analysts at Royal Bank Of Canada from $40.00 to $41.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has a “sector perform” rating on the stock. Royal Bank Of Canada’s price target would suggest a potential upside of 27.95% from the stock’s current price.

TFPM has been the subject of a number of other research reports. Jefferies Financial Group cut 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 report on Monday, July 6th. BMO Capital Markets reissued a “market perform” rating on shares of Triple Flag Precious Metals in a research note on Friday, June 12th. Scotiabank lowered their price target on shares of Triple Flag Precious Metals from $43.00 to $39.00 and set a “sector perform” rating on the stock 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. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Triple Flag Precious Metals in a report on Wednesday, September 9th. Six analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $39.25.

Triple Flag Precious Metals Stock Down 1.6%

Shares of Triple Flag Precious Metals stock traded down $0.53 on Wednesday, reaching $32.05. The stock had a trading volume of 232,602 shares, compared to its average volume of 630,008. The stock has a market capitalization of $6.60 billion, a P/E ratio of 16.11, a P/E/G ratio of 2.89 and a beta of -0.15. The company has a 50 day moving average price of $31.26 and a 200 day moving average price of $32.44. Triple Flag Precious Metals has a 1 year low of $26.61 and a 1 year high of $41.70.

Triple Flag Precious Metals (NYSE:TFPM) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.06. The business had revenue of $129.20 million for the quarter, compared to analyst estimates of $129.20 million. Triple Flag Precious Metals had a net margin of 84.32% and a return on equity of 14.09%. On average, analysts forecast that Triple Flag Precious Metals will post 1.43 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Triple Flag Precious Metals

Several hedge funds have recently added to or reduced their stakes in TFPM. Cetera Investment Advisers boosted its stake in shares of Triple Flag Precious Metals by 9.2% in the first quarter. Cetera Investment Advisers now owns 7,784 shares of the company’s stock valued at $270,000 after purchasing an additional 655 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in 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 worth $40,000 after buying an additional 664 shares in the last quarter. Blue Trust Inc. boosted its position in Triple Flag Precious Metals by 4.4% in the 1st quarter. Blue Trust Inc. now owns 15,833 shares of the company’s stock valued at $550,000 after buying an additional 670 shares during the last quarter. Parvin Asset Management LLC grew its stake in shares of Triple Flag Precious Metals by 2.0% during the first quarter. Parvin Asset Management LLC now owns 39,965 shares of the company’s stock valued at $1,387,000 after acquiring an additional 800 shares in the last quarter. Finally, Creative Financial Designs Inc. ADV grew its stake in shares of Triple Flag Precious Metals by 7.7% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 11,556 shares of the company’s stock valued at $384,000 after acquiring an additional 831 shares in the last quarter. 82.91% of the stock is currently owned by hedge funds and other institutional investors.

About Triple Flag Precious Metals

Triple Flag Precious Metals Corp. is a precious-metals streaming and royalty company. It provides financing to mining companies in exchange for the right to purchase a portion of future metal production at predetermined prices or to receive revenue-based payments from mining operations.

The company’s portfolio is primarily focused on gold and silver, with additional exposure to other metals produced as byproducts of its investments. Its interests span a range of mining assets and projects in jurisdictions including North America, South America, Australia and Africa.

Triple Flag was established in 2016 and is headquartered in Toronto, Canada.