Triple Flag Precious Metals (NYSE:TFPM) Upgraded by Zacks Research to “Strong-Buy” Rating

Zacks Research upgraded shares of Triple Flag Precious Metals (NYSE:TFPM) from a hold rating to a strong-buy rating in a report released on Wednesday morning,Zacks.com reports.

A number of other analysts also recently commented on TFPM. Weiss Ratings reissued a “buy (b)” rating on shares of Triple Flag Precious Metals in a research note on Wednesday, January 21st. BMO Capital Markets reaffirmed a “market perform” rating on shares of Triple Flag Precious Metals in a research note on Thursday, January 15th. Scotiabank lifted their target price on Triple Flag Precious Metals from $34.00 to $43.00 and gave the stock a “sector perform” rating in a report on Monday, January 26th. Wall Street Zen upgraded shares of Triple Flag Precious Metals from a “hold” rating to a “buy” rating in a research report on Saturday, February 21st. Finally, Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Triple Flag Precious Metals in a report on Wednesday, February 4th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.25.

Triple Flag Precious Metals Price Performance

NYSE TFPM opened at $37.44 on Wednesday. Triple Flag Precious Metals has a 12 month low of $17.72 and a 12 month high of $41.70. The firm has a market capitalization of $7.73 billion, a PE ratio of 31.73, a P/E/G ratio of 1.97 and a beta of -0.28. The company’s 50 day simple moving average is $36.97 and its 200 day simple moving average is $32.68.

Triple Flag Precious Metals (NYSE:TFPM) last released 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 firm had revenue of $118.92 million during the quarter, compared to the consensus estimate of $114.92 million. Triple Flag Precious Metals had a return on equity of 10.82% and a net margin of 61.74%. Sell-side analysts anticipate that Triple Flag Precious Metals will post 0.71 earnings per share for the current fiscal year.

Triple Flag Precious Metals Dividend Announcement

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

Hedge Funds Weigh In On Triple Flag Precious Metals

Hedge funds have recently modified their holdings of the stock. Norges Bank acquired a new stake in shares of Triple Flag Precious Metals during the fourth quarter worth $49,550,000. Tidal Investments LLC boosted its position in shares of Triple Flag Precious Metals by 59.5% in the 3rd quarter. Tidal Investments LLC now owns 2,396,198 shares of the company’s stock valued at $70,113,000 after purchasing an additional 893,566 shares during the period. Vanguard Group Inc. increased its stake in Triple Flag Precious Metals by 1,619.6% in the 3rd quarter. Vanguard Group Inc. now owns 928,368 shares of the company’s stock worth $27,177,000 after purchasing an additional 874,382 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in Triple Flag Precious Metals by 67.4% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 2,097,794 shares of the company’s stock worth $49,731,000 after purchasing an additional 844,765 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings 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 buying an additional 753,923 shares during the period. 82.91% of the stock is currently owned by institutional investors and hedge funds.

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.