Triple Flag Precious Metals (NYSE:TFPM) Stock Rating Lowered by Wall Street Zen

Triple Flag Precious Metals (NYSE:TFPM) was downgraded by stock analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Saturday.

TFPM has been the subject of a number of other research reports. Weiss Ratings restated a “buy (b)” rating on shares of Triple Flag Precious Metals in a research report on Wednesday, January 21st. Zacks Research cut Triple Flag Precious Metals from a “strong-buy” rating to a “hold” rating in a research report on Thursday, April 9th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Triple Flag Precious Metals in a research note on Wednesday, February 4th. Scotiabank raised their price target on Triple Flag Precious Metals from $34.00 to $43.00 and gave the company a “sector perform” rating in a report on Monday, January 26th. Finally, BMO Capital Markets restated a “market perform” rating on shares of Triple Flag Precious Metals in a research note on Thursday, January 15th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $32.25.

Triple Flag Precious Metals Price Performance

Triple Flag Precious Metals stock opened at $36.43 on Friday. The business has a 50 day simple moving average of $36.16 and a 200-day simple moving average of $33.94. Triple Flag Precious Metals has a 12 month low of $19.36 and a 12 month high of $41.70. The stock has a market capitalization of $7.53 billion, a PE ratio of 30.88, a price-to-earnings-growth ratio of 3.75 and a beta of -0.09.

Triple Flag Precious Metals (NYSE:TFPM) last announced its quarterly earnings data on Wednesday, February 18th. The company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.01. The company had revenue of $118.92 million for the quarter, compared to analysts’ expectations of $114.92 million. Triple Flag Precious Metals had a net margin of 61.74% and a return on equity of 10.82%. As a group, equities research analysts anticipate that Triple Flag Precious Metals will post 0.71 EPS for the current year.

Institutional Trading of Triple Flag Precious Metals

A number of institutional investors have recently bought and sold shares of TFPM. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Triple Flag Precious Metals by 39.9% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,642,566 shares of the company’s stock valued at $77,373,000 after buying an additional 753,923 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of Triple Flag Precious Metals by 25.3% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 2,628,151 shares of the company’s stock worth $76,908,000 after buying an additional 530,357 shares in the last quarter. Van ECK Associates Corp boosted its position in shares of Triple Flag Precious Metals by 10.8% in the 3rd quarter. Van ECK Associates Corp now owns 2,555,954 shares of the company’s stock worth $75,244,000 after buying an additional 250,123 shares in the last quarter. Tidal Investments LLC grew its stake in Triple Flag Precious Metals by 59.5% in the 3rd quarter. Tidal Investments LLC now owns 2,396,198 shares of the company’s stock valued at $70,113,000 after acquiring an additional 893,566 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in Triple Flag Precious Metals by 82.2% during the 4th quarter. Vanguard Group Inc. now owns 1,691,194 shares of the company’s stock valued at $56,198,000 after acquiring an additional 762,826 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 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.