Triple Flag Precious Metals (NYSE:TFPM) Cut to “Market Perform” at BMO Capital Markets

Triple Flag Precious Metals (NYSE:TFPM) was downgraded by equities research analysts at BMO Capital Markets from an “outperform” rating to a “market perform” rating in a report issued on Wednesday,Finviz reports.

A number of other analysts also recently weighed in on TFPM. Raymond James Financial reaffirmed an “outperform” rating on shares of Triple Flag Precious Metals in a research report on Wednesday, May 7th. National Bank Financial raised shares of Triple Flag Precious Metals to a “strong-buy” rating in a research note on Wednesday, April 23rd. Scotiabank reissued a “sector perform” rating on shares of Triple Flag Precious Metals in a research report on Monday, April 14th. Royal Bank Of Canada raised their price objective on Triple Flag Precious Metals from $19.00 to $23.00 and gave the company a “sector perform” rating in a research report on Wednesday, June 4th. Finally, Jefferies Financial Group raised their price target on Triple Flag Precious Metals from $24.00 to $26.00 and gave the company a “buy” rating in a report on Tuesday, April 22nd. Three equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Triple Flag Precious Metals currently has an average rating of “Moderate Buy” and a consensus target price of $24.00.

Triple Flag Precious Metals Trading Down 2.7%

Shares of Triple Flag Precious Metals stock opened at $24.29 on Wednesday. Triple Flag Precious Metals has a 12-month low of $13.94 and a 12-month high of $25.45. The company has a market cap of $4.88 billion, a P/E ratio of 809.67, a PEG ratio of 1.20 and a beta of -0.24. The company’s fifty day simple moving average is $22.26 and its two-hundred day simple moving average is $18.92.

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

Institutional Investors Weigh In On Triple Flag Precious Metals

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. SCS Capital Management LLC purchased a new position in shares of Triple Flag Precious Metals in the 1st quarter worth $15,179,000. Ascent Group LLC purchased a new position in shares of Triple Flag Precious Metals in the first quarter worth approximately $327,000. Goldman Sachs Group Inc. grew its position in Triple Flag Precious Metals by 69.8% during the first quarter. Goldman Sachs Group Inc. now owns 305,826 shares of the company’s stock valued at $5,857,000 after buying an additional 125,746 shares during the period. Mountain Lake Investment Management LLC purchased a new stake in Triple Flag Precious Metals during the first quarter valued at approximately $932,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Triple Flag Precious Metals by 11.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,648,973 shares of the company’s stock worth $31,542,000 after acquiring an additional 173,881 shares during the period. Hedge funds and other institutional investors own 82.91% of the company’s stock.

Triple Flag Precious Metals Company Profile

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.