Triple Flag Precious Metals Corp. (NYSE:TFPM) Stock Has Average Price Target of $39.25 According to Analysts

Shares of Triple Flag Precious Metals Corp. (NYSE:TFPM) have been assigned an average rating of “Moderate Buy” from the ten research firms that are covering the company, MarketBeat.com reports. Four research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $39.25.

TFPM has been the subject of several research analyst reports. Wall Street Zen downgraded Triple Flag Precious Metals from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. Scotiabank lowered their target price 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 note on Tuesday, July 14th. Royal Bank Of Canada raised their price target on shares of Triple Flag Precious Metals from $40.00 to $41.00 and gave the company a “sector perform” rating in a report on Wednesday, September 16th. BMO Capital Markets reiterated a “market perform” rating on shares of Triple Flag Precious Metals in a research note on Friday, June 12th. Finally, Jefferies Financial Group decreased 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.

Hedge Funds Weigh In On Triple Flag Precious Metals

Institutional investors and hedge funds have recently modified their holdings of the company. Tidal Investments LLC grew its holdings in shares of Triple Flag Precious Metals by 15.8% in the second quarter. Tidal Investments LLC now owns 2,949,715 shares of the company’s stock worth $88,403,000 after acquiring an additional 402,924 shares during the period. Engineers Gate Manager LP lifted its holdings in Triple Flag Precious Metals by 15.1% in the second quarter. Engineers Gate Manager LP now owns 76,961 shares of the company’s stock valued at $2,307,000 after acquiring an additional 10,091 shares during the period. Integrated Wealth Concepts LLC purchased a new position in Triple Flag Precious Metals in the second quarter worth about $44,000. HighTower Advisors LLC grew its stake in shares of Triple Flag Precious Metals by 8.2% during the 2nd quarter. HighTower Advisors LLC now owns 42,221 shares of the company’s stock valued at $1,265,000 after purchasing an additional 3,190 shares during the period. Finally, Van ECK Associates Corp grew its stake in shares of Triple Flag Precious Metals by 2.3% during the 2nd quarter. Van ECK Associates Corp now owns 2,336,139 shares of the company’s stock valued at $70,018,000 after purchasing an additional 53,175 shares during the period. 82.91% of the stock is currently owned by hedge funds and other institutional investors.

Triple Flag Precious Metals Trading Up 0.7%

TFPM stock opened at $30.70 on Friday. The stock has a market capitalization of $6.32 billion, a PE ratio of 15.43, a price-to-earnings-growth ratio of 2.78 and a beta of -0.13. Triple Flag Precious Metals has a 12-month low of $26.61 and a 12-month high of $41.70. The stock’s 50 day simple moving average is $32.34 and its 200 day simple moving average is $31.75.

Triple Flag Precious Metals (NYSE:TFPM) last posted its earnings results on Wednesday, August 5th. The company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.06. Triple Flag Precious Metals had a return on equity of 14.09% and a net margin of 84.32%.The business had revenue of $129.20 million during the quarter, compared to analyst estimates of $129.20 million. On average, research analysts predict that Triple Flag Precious Metals will post 1.38 earnings per share for the current year.

Triple Flag Precious Metals Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st were given a $0.06 dividend. This is a boost from Triple Flag Precious Metals’s previous quarterly dividend of $0.0575. The ex-dividend date of this dividend was Monday, August 31st. This represents a $0.24 dividend on an annualized basis and a yield of 0.8%. Triple Flag Precious Metals’s payout ratio is presently 12.06%.

About Triple Flag Precious Metals

Triple Flag Precious Metals Corp. is a precious-metals streaming and royalty company headquartered in Toronto, Canada. Through streaming agreements, it provides mining companies with upfront financing in exchange for the right to purchase a portion of future metal production at predetermined prices. Its royalty interests entitle the company to receive a percentage of revenue or production from mining operations without directly operating the mines.

The company’s portfolio is primarily focused on gold and silver, with additional exposure to other metals, including copper and platinum-group metals.