Triple Flag Precious Metals (NYSE:TFPM) Price Target Raised to $41.00

Triple Flag Precious Metals (NYSE:TFPM) had its price objective boosted by Royal Bank Of Canada from $40.00 to $41.00 in a research note published on Wednesday morning,Benzinga reports. They currently have a sector perform rating on the stock.

Several other analysts have also issued reports on the stock. Weiss Ratings reiterated a “buy (b-)” rating on shares of Triple Flag Precious Metals in a research report on Wednesday, September 9th. BMO Capital Markets restated a “market perform” rating on shares of Triple Flag Precious Metals in a research report on Friday, June 12th. Scotiabank decreased their price target 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. Zacks Research upgraded Triple Flag Precious Metals from a “strong sell” rating to a “hold” rating in a report on Monday, August 10th. Finally, Canaccord Genuity Group upgraded Triple Flag Precious Metals from a “hold” rating to a “buy” rating in a report on Friday, June 12th. Six investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $39.25.

Triple Flag Precious Metals Price Performance

Shares of NYSE:TFPM opened at $33.11 on Wednesday. Triple Flag Precious Metals has a 1 year low of $26.61 and a 1 year high of $41.70. The firm has a market capitalization of $6.82 billion, a price-to-earnings ratio of 16.64, a price-to-earnings-growth ratio of 2.91 and a beta of -0.15. The business’s 50 day moving average price is $31.53 and its 200-day moving average price is $32.33.

Triple Flag Precious Metals (NYSE:TFPM) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.33 by $0.06. The company had revenue of $129.20 million during the quarter, compared to analyst estimates of $129.20 million. Triple Flag Precious Metals had a net margin of 84.32% and a return on equity of 14.09%. On average, sell-side analysts expect that Triple Flag Precious Metals will post 1.43 earnings per share for the current year.

Triple Flag Precious Metals Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st were paid a dividend of $0.06 per share. This is a boost from Triple Flag Precious Metals’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend was Monday, August 31st. This represents a $0.24 annualized dividend and a yield of 0.7%. Triple Flag Precious Metals’s dividend payout ratio is presently 12.06%.

Institutional Investors Weigh In On Triple Flag Precious Metals

A number of hedge funds have recently modified their holdings of the business. Norges Bank purchased a new position in Triple Flag Precious Metals during the fourth quarter worth about $49,550,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Triple Flag Precious Metals in the 2nd quarter valued at about $29,283,000. Deutsche Bank AG purchased a new stake in shares of Triple Flag Precious Metals in the 2nd quarter valued at approximately $12,322,000. Tidal Investments LLC grew its stake in shares of Triple Flag Precious Metals by 15.8% in the 2nd quarter. Tidal Investments LLC now owns 2,949,715 shares of the company’s stock valued at $88,403,000 after buying an additional 402,924 shares during the period. Finally, Horizon Kinetics Asset Management LLC increased its holdings in shares of Triple Flag Precious Metals by 1,510.2% during the 4th quarter. Horizon Kinetics Asset Management LLC now owns 425,303 shares of the company’s stock worth $14,129,000 after buying an additional 398,890 shares during the last quarter. 82.91% of the stock is currently owned by institutional investors and hedge funds.

About Triple Flag Precious Metals

Triple Flag Precious Metals Corp. is a precious-metals streaming and royalty company. It provides financing to mining companies in exchange for the right to purchase a portion of future metal production at predetermined prices or to receive revenue-based payments from mining operations.

The company’s portfolio is primarily focused on gold and silver, with additional exposure to other metals produced as byproducts of its investments. Its interests span a range of mining assets and projects in jurisdictions including North America, South America, Australia and Africa.

Triple Flag was established in 2016 and is headquartered in Toronto, Canada.