Triple Flag Precious Metals (NYSE:TFPM) Announces Quarterly Earnings Results

Triple Flag Precious Metals (NYSE:TFPM) posted its quarterly earnings data on Wednesday. The company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.06, Zacks reports. Triple Flag Precious Metals had a net margin of 68.68% and a return on equity of 12.90%.

Triple Flag Precious Metals Stock Up 4.9%

Shares of Triple Flag Precious Metals stock traded up $1.47 on Wednesday, hitting $31.37. 870,234 shares of the company’s stock traded hands, compared to its average volume of 434,075. Triple Flag Precious Metals has a 52-week low of $24.39 and a 52-week high of $41.70. The stock has a market cap of $6.46 billion, a P/E ratio of 20.78, a PEG ratio of 2.64 and a beta of -0.18. The firm’s 50-day moving average is $29.24 and its 200 day moving average is $33.16.

Institutional Trading of Triple Flag Precious Metals

Several institutional investors have recently added to or reduced their stakes in TFPM. Quarry LP acquired a new stake in Triple Flag Precious Metals in the third quarter valued at $33,000. Tower Research Capital LLC TRC grew its holdings in Triple Flag Precious Metals by 160.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,015 shares of the company’s stock worth $119,000 after acquiring an additional 3,086 shares in the last quarter. Caitlin John LLC increased its position in shares of Triple Flag Precious Metals by 11.2% in the 4th quarter. Caitlin John LLC now owns 3,730 shares of the company’s stock worth $124,000 after purchasing an additional 375 shares during the last quarter. Northwest & Ethical Investments L.P. increased its position in shares of Triple Flag Precious Metals by 54.8% in the 4th quarter. Northwest & Ethical Investments L.P. now owns 4,009 shares of the company’s stock worth $133,000 after purchasing an additional 1,420 shares during the last quarter. Finally, Osaic Holdings Inc. raised its stake in shares of Triple Flag Precious Metals by 4,954.7% in the 2nd quarter. Osaic Holdings Inc. now owns 5,914 shares of the company’s stock valued at $140,000 after purchasing an additional 5,797 shares in the last quarter. 82.91% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TFPM has been the subject of several analyst reports. Zacks Research downgraded shares of Triple Flag Precious Metals from a “hold” rating to a “strong sell” rating in a research note on Friday, July 10th. BMO Capital Markets reiterated a “market perform” rating on shares of Triple Flag Precious Metals in a report on Friday, June 12th. Bank of America decreased their price objective on shares of Triple Flag Precious Metals from $39.00 to $37.00 and set a “buy” rating for the company in a research report on Thursday, July 9th. Canaccord Genuity Group upgraded Triple Flag Precious Metals from a “hold” rating to a “buy” rating in a research note on Friday, June 12th. Finally, Jefferies Financial Group lowered their target price on Triple Flag Precious Metals from $43.00 to $40.00 and set a “buy” rating for the company in a research note on Monday, July 6th. Six analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $38.67.

Triple Flag Precious Metals Company Profile

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.