Triple Flag Precious Metals (NYSE:TFPM) Sets New 52-Week High – Still a Buy?

Shares of Triple Flag Precious Metals Corp. (NYSE:TFPM) hit a new 52-week high on Monday . The company traded as high as $36.71 and last traded at $36.39, with a volume of 64839 shares trading hands. The stock had previously closed at $35.10.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Wall Street Zen lowered shares of Triple Flag Precious Metals from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Raymond James Financial reaffirmed an “outperform” rating on shares of Triple Flag Precious Metals in a report on Friday, October 10th. Zacks Research downgraded Triple Flag Precious Metals from a “hold” rating to a “strong sell” rating in a research report on Monday. Weiss Ratings restated a “buy (b)” rating on shares of Triple Flag Precious Metals in a report on Wednesday, October 8th. Finally, Canaccord Genuity Group lowered Triple Flag Precious Metals from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 2nd. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $30.00.

Triple Flag Precious Metals Stock Up 0.3%

The company has a debt-to-equity ratio of 0.01, a current ratio of 1.68 and a quick ratio of 1.68. The business has a 50 day simple moving average of $32.80 and a 200 day simple moving average of $28.95. The company has a market capitalization of $7.58 billion, a price-to-earnings ratio of 36.38, a PEG ratio of 1.21 and a beta of -0.21.

Triple Flag Precious Metals (NYSE:TFPM) last posted its earnings results on Tuesday, November 4th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.02. The firm had revenue of $93.50 million for the quarter, compared to analyst estimates 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 analysts predict 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 firm also recently announced a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were issued a dividend of $0.0575 per share. The ex-dividend date was Monday, December 1st. This represents a $0.23 dividend on an annualized basis and a yield of 0.6%. Triple Flag Precious Metals’s dividend payout ratio is 22.77%.

Institutional Trading of Triple Flag Precious Metals

Several hedge funds have recently modified their holdings of TFPM. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Triple Flag Precious Metals by 39.9% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,642,566 shares of the company’s stock worth $77,373,000 after purchasing an additional 753,923 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in shares of Triple Flag Precious Metals by 25.3% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 2,628,151 shares of the company’s stock valued at $76,908,000 after buying an additional 530,357 shares during the period. Van ECK Associates Corp boosted its stake in shares of Triple Flag Precious Metals by 10.8% in the 3rd quarter. Van ECK Associates Corp now owns 2,555,954 shares of the company’s stock valued at $75,244,000 after buying an additional 250,123 shares during the period. Tidal Investments LLC grew its position in shares of Triple Flag Precious Metals by 59.5% during the third quarter. Tidal Investments LLC now owns 2,396,198 shares of the company’s stock worth $70,113,000 after buying an additional 893,566 shares in the last quarter. Finally, Sprott Inc. increased its stake in shares of Triple Flag Precious Metals by 49.2% during the third quarter. Sprott Inc. now owns 1,156,609 shares of the company’s stock worth $33,844,000 after buying an additional 381,379 shares during the period. 82.91% of the stock is currently owned by institutional investors and hedge funds.

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.