Triple Flag Precious Metals (NYSE:TFPM) Hits New 12-Month High – What’s Next?

Triple Flag Precious Metals Corp. (NYSE:TFPM) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $41.70 and last traded at $41.09, with a volume of 710247 shares trading hands. The stock had previously closed at $41.36.

Analyst Ratings Changes

Several research firms recently commented on TFPM. Zacks Research raised shares of Triple Flag Precious Metals from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 10th. BMO Capital Markets restated a “market perform” rating on shares of Triple Flag Precious Metals in a research report on Thursday, January 15th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Triple Flag Precious Metals in a research note on Wednesday, February 4th. Weiss Ratings reissued a “buy (b)” rating on shares of Triple Flag Precious Metals in a report on Wednesday, January 21st. Finally, Wall Street Zen raised Triple Flag Precious Metals from a “hold” rating to a “buy” rating in a report on Saturday, February 21st. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, Triple Flag Precious Metals currently has an average rating of “Moderate Buy” and a consensus target price of $32.25.

Triple Flag Precious Metals Price Performance

The company has a 50 day moving average of $36.43 and a 200-day moving average of $32.20. The company has a market cap of $8.10 billion, a P/E ratio of 33.22, a price-to-earnings-growth ratio of 2.03 and a beta of -0.28.

Triple Flag Precious Metals (NYSE:TFPM) last announced its earnings results on Wednesday, February 18th. The company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.01. The business had revenue of $118.92 million for the quarter, compared to analyst estimates of $114.92 million. Triple Flag Precious Metals had a return on equity of 10.82% and a net margin of 61.74%. Research analysts anticipate that Triple Flag Precious Metals Corp. will post 0.71 EPS for the current year.

Triple Flag Precious Metals Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 2nd will be given a dividend of $0.0575 per share. The ex-dividend date is Monday, March 2nd. This represents a $0.23 annualized dividend and a yield of 0.6%. Triple Flag Precious Metals’s payout ratio is presently 19.49%.

Hedge Funds Weigh In On Triple Flag Precious Metals

Institutional investors have recently made changes to their positions in the stock. Goldman Sachs Group Inc. increased its stake in Triple Flag Precious Metals by 69.8% in the first quarter. Goldman Sachs Group Inc. now owns 305,826 shares of the company’s stock valued at $5,857,000 after acquiring an additional 125,746 shares during the last quarter. C WorldWide Group Holding A S purchased a new stake in shares of Triple Flag Precious Metals during the second quarter valued at approximately $2,357,000. Savant Capital LLC boosted its holdings in shares of Triple Flag Precious Metals by 115.6% during the 2nd quarter. Savant Capital LLC now owns 39,710 shares of the company’s stock valued at $941,000 after buying an additional 21,290 shares in the last quarter. Penserra Capital Management LLC bought a new stake in Triple Flag Precious Metals during the second quarter worth about $1,546,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Triple Flag Precious Metals by 50.1% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 350,500 shares of the company’s stock worth $8,316,000 after buying an additional 117,000 shares during the last quarter. 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.