Scotiabank Increases Triple Flag Precious Metals (NYSE:TFPM) Price Target to $23.00

Triple Flag Precious Metals (NYSE:TFPM) had its target price hoisted by Scotiabank from $21.00 to $23.00 in a report published on Monday morning,Benzinga reports. The firm currently has a sector outperform rating on the stock.

Separately, Raymond James restated an “outperform” rating on shares of Triple Flag Precious Metals in a report on Friday, April 4th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.00.

Triple Flag Precious Metals Price Performance

Triple Flag Precious Metals stock opened at $22.04 on Monday. The stock has a market cap of $4.43 billion, a price-to-earnings ratio of -200.36, a price-to-earnings-growth ratio of 0.78 and a beta of -0.25. The firm has a 50-day moving average of $18.49 and a two-hundred day moving average of $17.06. Triple Flag Precious Metals has a 1 year low of $13.94 and a 1 year high of $22.46.

Triple Flag Precious Metals (NYSE:TFPM) last announced its quarterly earnings data on Wednesday, February 19th. The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.02. The company had revenue of $74.21 million for the quarter, compared to analysts’ expectations of $74.10 million. Triple Flag Precious Metals had a positive return on equity of 6.63% and a negative net margin of 8.58%. Research analysts expect that Triple Flag Precious Metals will post 0.71 earnings per share for the current year.

Triple Flag Precious Metals Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, March 3rd were paid a dividend of $0.055 per share. This represents a $0.22 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date was Monday, March 3rd. Triple Flag Precious Metals’s dividend payout ratio (DPR) is currently -200.00%.

Hedge Funds Weigh In On Triple Flag Precious Metals

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Virtu Financial LLC lifted its position in shares of Triple Flag Precious Metals by 6.0% during the third quarter. Virtu Financial LLC now owns 15,066 shares of the company’s stock valued at $244,000 after buying an additional 857 shares during the last quarter. Principal Street Partners LLC raised its stake in shares of Triple Flag Precious Metals by 4.2% during the 4th quarter. Principal Street Partners LLC now owns 24,755 shares of the company’s stock worth $372,000 after acquiring an additional 1,001 shares in the last quarter. Mackenzie Financial Corp lifted its position in Triple Flag Precious Metals by 3.5% during the fourth quarter. Mackenzie Financial Corp now owns 32,577 shares of the company’s stock valued at $489,000 after acquiring an additional 1,101 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in Triple Flag Precious Metals by 175.6% in the fourth quarter. Farther Finance Advisors LLC now owns 1,896 shares of the company’s stock valued at $29,000 after acquiring an additional 1,208 shares in the last quarter. Finally, XTX Topco Ltd grew its holdings in Triple Flag Precious Metals by 9.1% in the fourth quarter. XTX Topco Ltd now owns 14,852 shares of the company’s stock worth $223,000 after purchasing an additional 1,238 shares during the last quarter. 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.