Triple Flag Precious Metals (NYSE:TFPM) Rating Increased to Hold at Zacks Research

Triple Flag Precious Metals (NYSE:TFPM) was upgraded by investment analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report issued on Monday,Zacks.com reports.

A number of other brokerages have also recently commented on TFPM. Bank of America cut their target price on shares of Triple Flag Precious Metals from $39.00 to $37.00 and set a “buy” rating on the stock in a report on Thursday, July 9th. Weiss Ratings downgraded shares of Triple Flag Precious Metals from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, June 12th. BMO Capital Markets restated a “market perform” rating on shares of Triple Flag Precious Metals in a research note on Friday, June 12th. Jefferies Financial Group reduced their target price on shares of Triple Flag Precious Metals from $43.00 to $40.00 and set a “buy” rating for the company in a report on Monday, July 6th. Finally, Canaccord Genuity Group raised Triple Flag Precious Metals from a “hold” rating to a “buy” rating in a report on Friday, June 12th. Six research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $38.67.

Triple Flag Precious Metals Stock Performance

Triple Flag Precious Metals stock opened at $32.02 on Monday. The stock has a 50-day simple moving average of $29.34 and a 200-day simple moving average of $33.02. The company has a market capitalization of $6.60 billion, a P/E ratio of 16.09, a PEG ratio of 2.80 and a beta of -0.18. Triple Flag Precious Metals has a fifty-two week low of $24.75 and a fifty-two week high of $41.70.

Triple Flag Precious Metals (NYSE:TFPM) last released 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 for the quarter, compared to analyst estimates of $129.20 million. Triple Flag Precious Metals had a return on equity of 14.09% and a net margin of 84.32%. As a group, analysts forecast that Triple Flag Precious Metals will post 1.44 earnings per share for the current year.

Institutional Trading of Triple Flag Precious Metals

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Goldman Sachs Group Inc. raised its holdings in Triple Flag Precious Metals by 69.8% during the first quarter. Goldman Sachs Group Inc. now owns 305,826 shares of the company’s stock worth $5,857,000 after purchasing an additional 125,746 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Triple Flag Precious Metals by 741.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 299,713 shares of the company’s stock valued at $7,100,000 after purchasing an additional 264,082 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in Triple Flag Precious Metals by 6.9% in the 2nd quarter. Russell Investments Group Ltd. now owns 30,537 shares of the company’s stock valued at $723,000 after purchasing an additional 1,976 shares in the last quarter. First Trust Advisors LP increased its position in Triple Flag Precious Metals by 94.5% during the 2nd quarter. First Trust Advisors LP now owns 103,451 shares of the company’s stock worth $2,451,000 after purchasing an additional 50,263 shares during the period. Finally, Qube Research & Technologies Ltd raised its stake in shares of Triple Flag Precious Metals by 30.1% during the 2nd quarter. Qube Research & Technologies Ltd now owns 289,037 shares of the company’s stock worth $6,847,000 after buying an additional 66,938 shares in 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. 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.