Triple Flag Precious Metals (NYSE:TFPM) Cut to “Buy” at Wall Street Zen

Wall Street Zen cut shares of Triple Flag Precious Metals (NYSE:TFPM) from a strong-buy rating to a buy rating in a research note issued to investors on Saturday.

Several other research firms have also issued reports on TFPM. National Bank Financial upgraded shares of Triple Flag Precious Metals to a “strong-buy” rating in a research report on Wednesday, April 23rd. Scotiabank restated a “sector perform” rating on shares of Triple Flag Precious Metals in a research report on Monday, April 14th. Raymond James Financial restated an “outperform” rating on shares of Triple Flag Precious Metals in a research report on Thursday, July 10th. BMO Capital Markets lowered shares of Triple Flag Precious Metals from an “outperform” rating to a “market perform” rating in a research report on Wednesday, June 25th. Finally, Royal Bank Of Canada upped their price target on shares of 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. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $24.00.

Triple Flag Precious Metals Stock Performance

Shares of NYSE:TFPM opened at $23.86 on Friday. Triple Flag Precious Metals has a 52-week low of $13.94 and a 52-week high of $25.45. The firm has a fifty day moving average of $23.69 and a 200 day moving average of $20.57. The firm has a market capitalization of $4.93 billion, a PE ratio of 795.33, a price-to-earnings-growth ratio of 1.04 and a beta of -0.20.

Triple Flag Precious Metals (NYSE:TFPM) last announced its earnings results on Tuesday, May 6th. The company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.01. Triple Flag Precious Metals had a net margin of 1.71% and a return on equity of 7.69%. The company had revenue of $82.25 million during the quarter, compared to analyst estimates of $72.14 million. On average, sell-side analysts forecast that Triple Flag Precious Metals will post 0.71 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 16th. Stockholders of record on Friday, May 30th were paid a dividend of $0.055 per share. This represents a $0.22 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Friday, May 30th. Triple Flag Precious Metals’s dividend payout ratio is 733.33%.

Hedge Funds Weigh In On Triple Flag Precious Metals

Several hedge funds and other institutional investors have recently modified their holdings of TFPM. Tidal Investments LLC raised its stake in Triple Flag Precious Metals by 221.9% in the fourth quarter. Tidal Investments LLC now owns 1,717,347 shares of the company’s stock worth $25,829,000 after buying an additional 1,183,827 shares in the last quarter. Norges Bank bought a new position in Triple Flag Precious Metals in the fourth quarter worth about $15,696,000. Mackenzie Financial Corp raised its stake in Triple Flag Precious Metals by 2,463.9% in the first quarter. Mackenzie Financial Corp now owns 835,240 shares of the company’s stock worth $15,978,000 after buying an additional 802,663 shares in the last quarter. SCS Capital Management LLC bought a new position in Triple Flag Precious Metals in the first quarter worth about $15,179,000. Finally, Arrowstreet Capital Limited Partnership raised its stake in Triple Flag Precious Metals by 377.2% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 908,888 shares of the company’s stock worth $13,652,000 after buying an additional 718,408 shares in the last quarter. 82.91% of the stock is owned by institutional investors.

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.