Zacks Research Downgrades Triple Flag Precious Metals (NYSE:TFPM) to Hold

Triple Flag Precious Metals (NYSE:TFPM) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Tuesday,Zacks.com reports.

A number of other brokerages have also commented on TFPM. Bank of America upped their target price on Triple Flag Precious Metals from $33.00 to $37.00 and gave the company a “buy” rating in a research report on Thursday, October 16th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Triple Flag Precious Metals in a report on Wednesday, October 8th. Canaccord Genuity Group lowered shares of Triple Flag Precious Metals from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 2nd. Wall Street Zen downgraded shares of Triple Flag Precious Metals from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Finally, Scotiabank lowered their price target on shares of Triple Flag Precious Metals from $35.00 to $34.00 and set a “sector perform” rating on the stock in a report on Friday, November 7th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $30.00.

Triple Flag Precious Metals Trading Up 2.9%

Shares of Triple Flag Precious Metals stock opened at $32.49 on Tuesday. The firm’s 50 day simple moving average is $29.65 and its two-hundred day simple moving average is $26.25. The firm has a market capitalization of $6.71 billion, a price-to-earnings ratio of 32.17, a PEG ratio of 0.89 and a beta of -0.18. Triple Flag Precious Metals has a 12-month low of $14.51 and a 12-month high of $33.51. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 0.01.

Triple Flag Precious Metals (NYSE:TFPM) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.22 by $0.02. Triple Flag Precious Metals had a net margin of 59.43% and a return on equity of 9.56%. The business had revenue of $93.50 million during the quarter, compared to the consensus estimate of $87.46 million. Analysts predict that Triple Flag Precious Metals will post 0.71 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bessemer Group Inc. purchased a new stake in shares of Triple Flag Precious Metals during the 3rd quarter worth about $27,000. Quarry LP acquired a new position in Triple Flag Precious Metals in the 3rd quarter worth about $33,000. SBI Securities Co. Ltd. boosted its position in Triple Flag Precious Metals by 100.6% during the third quarter. SBI Securities Co. Ltd. now owns 1,408 shares of the company’s stock worth $41,000 after purchasing an additional 706 shares in the last quarter. Employees Retirement System of Texas purchased a new position in Triple Flag Precious Metals during the second quarter worth approximately $36,000. Finally, SVB Wealth LLC acquired a new stake in Triple Flag Precious Metals in the first quarter valued at approximately $34,000. 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.