Triple Flag Precious Metals Corp. (NYSE:TFPM) Receives $24.00 Average Price Target from Analysts

Shares of Triple Flag Precious Metals Corp. (NYSE:TFPM) have been assigned a consensus rating of “Moderate Buy” from the six brokerages that are presently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $24.00.

TFPM has been the topic of a number of recent research reports. National Bank Financial raised Triple Flag Precious Metals to a “strong-buy” rating in a research note on Wednesday, April 23rd. Jefferies Financial Group upped their target price on Triple Flag Precious Metals from $24.00 to $26.00 and gave the company a “buy” rating in a research note on Tuesday, April 22nd. Royal Bank Of Canada upped their target price on Triple Flag Precious Metals from $19.00 to $23.00 and gave the company a “sector perform” rating in a research note on Wednesday, June 4th. Raymond James Financial reaffirmed an “outperform” rating on shares of Triple Flag Precious Metals in a research note on Wednesday, May 7th. Finally, Scotiabank reaffirmed a “sector perform” rating on shares of Triple Flag Precious Metals in a research note on Monday, April 14th.

Triple Flag Precious Metals Price Performance

TFPM opened at $24.55 on Friday. The stock has a market cap of $4.93 billion, a P/E ratio of 818.27, a P/E/G ratio of 1.20 and a beta of -0.24. The stock’s 50 day simple moving average is $22.00 and its 200 day simple moving average is $18.68. Triple Flag Precious Metals has a 1-year low of $13.94 and a 1-year high of $25.45.

Triple Flag Precious Metals (NYSE:TFPM) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.01. Triple Flag Precious Metals had a return on equity of 7.69% and a net margin of 1.71%. The business had revenue of $82.25 million for the quarter, compared to analysts’ expectations of $72.14 million. Research analysts expect that Triple Flag Precious Metals will post 0.71 EPS for the current fiscal year.

Triple Flag Precious Metals Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, May 30th were paid a dividend of $0.055 per share. This represents a $0.22 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date was Friday, May 30th. Triple Flag Precious Metals’s dividend payout ratio is presently 733.33%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in TFPM. Barclays PLC increased its holdings in shares of Triple Flag Precious Metals by 65.4% during the 4th quarter. Barclays PLC now owns 235,658 shares of the company’s stock worth $3,544,000 after buying an additional 93,214 shares during the last quarter. Bank of America Corp DE increased its holdings in shares of Triple Flag Precious Metals by 43.2% during the 4th quarter. Bank of America Corp DE now owns 381,554 shares of the company’s stock worth $5,739,000 after buying an additional 115,103 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Triple Flag Precious Metals during the 4th quarter worth $464,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Triple Flag Precious Metals during the 4th quarter worth $255,000. Finally, Renaissance Technologies LLC increased its holdings in shares of Triple Flag Precious Metals by 9.0% during the 4th quarter. Renaissance Technologies LLC now owns 98,900 shares of the company’s stock worth $1,487,000 after buying an additional 8,200 shares during the last quarter. Hedge funds and other institutional investors own 82.91% of the company’s stock.

About Triple Flag Precious Metals

Triple Flag Precious Metals Corp., a precious-metals-focused streaming and royalty company, engages in acquiring and managing precious metals, streams, royalties and other mineral interests in Australia, Canada, Colombia, Cote d'Ivoire, Honduras, Mexico, Mongolia, Peru, South Africa, the United States, and internationally.