Triple Flag Precious Metals (NYSE:TFPM) Sets New 52-Week High – Here’s Why
by Amy Steele · The Cerbat GemShares of Triple Flag Precious Metals Corp. (NYSE:TFPM – Get Free Report) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $39.07 and last traded at $38.6060, with a volume of 134122 shares changing hands. The stock had previously closed at $36.99.
Analysts Set New Price Targets
TFPM has been the topic of a number of analyst reports. Scotiabank dropped 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 research note on Friday, November 7th. Bank of America increased their target price on Triple Flag Precious Metals from $33.00 to $37.00 and gave the company a “buy” rating in a research note on Thursday, October 16th. Zacks Research cut Triple Flag Precious Metals from a “hold” rating to a “strong sell” rating in a research note on Monday, January 12th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Triple Flag Precious Metals in a research report on Wednesday, October 8th. Finally, Raymond James Financial reiterated an “outperform” rating on shares of Triple Flag Precious Metals in a research note on Friday, October 10th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $30.00.
Triple Flag Precious Metals Stock Performance
The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 0.01. The stock has a market cap of $8.04 billion, a PE ratio of 43.42, a P/E/G ratio of 1.13 and a beta of -0.21. The business’s 50-day moving average price is $33.74 and its 200-day moving average price is $29.47.
Triple Flag Precious Metals (NYSE:TFPM – Get Free Report) last posted its quarterly earnings results on Tuesday, November 4th. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.02. The business had revenue of $93.50 million for the quarter, compared to the consensus estimate of $87.46 million. Triple Flag Precious Metals had a return on equity of 9.56% and a net margin of 59.43%. As a group, equities research analysts expect that Triple Flag Precious Metals Corp. will post 0.71 earnings per share for the current fiscal year.
Triple Flag Precious Metals Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 1st were issued a $0.0575 dividend. This represents a $0.23 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend was Monday, December 1st. Triple Flag Precious Metals’s dividend payout ratio (DPR) is currently 22.77%.
Institutional Investors Weigh In On Triple Flag Precious Metals
Several institutional investors and hedge funds have recently modified their holdings of TFPM. Goldman Sachs Group Inc. raised its position in Triple Flag Precious Metals by 69.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 305,826 shares of the company’s stock valued at $5,857,000 after purchasing an additional 125,746 shares in the last quarter. ORG Wealth Partners LLC acquired a new stake in shares of Triple Flag Precious Metals during the second quarter worth about $97,000. Ascent Group LLC increased its holdings in shares of Triple Flag Precious Metals by 198.1% in the second quarter. Ascent Group LLC now owns 50,885 shares of the company’s stock valued at $1,205,000 after purchasing an additional 33,816 shares during the period. Drucker Wealth 3.0 LLC acquired a new position in Triple Flag Precious Metals in the 2nd quarter valued at $206,000. Finally, TD Asset Management Inc boosted its holdings in Triple Flag Precious Metals by 19.4% in the 2nd quarter. TD Asset Management Inc now owns 612,618 shares of the company’s stock valued at $14,497,000 after purchasing an additional 99,598 shares in the last quarter. Hedge funds and other institutional investors own 82.91% of the company’s stock.
About Triple Flag Precious Metals
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.