Canaccord Genuity Group Upgrades Triple Flag Precious Metals (NYSE:TFPM) to “Buy”

Triple Flag Precious Metals (NYSE:TFPM) was upgraded by equities researchers at Canaccord Genuity Group from a “hold” rating to a “buy” rating in a research note issued to investors on Friday.

Several other analysts have also issued reports on TFPM. Wall Street Zen lowered Triple Flag Precious Metals from a “buy” rating to a “hold” rating in a report on Saturday, June 6th. Zacks Research lowered Triple Flag Precious Metals from a “strong-buy” rating to a “hold” rating in a report on Thursday, April 9th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Triple Flag Precious Metals in a report on Monday, April 20th. Six research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Triple Flag Precious Metals has a consensus rating of “Moderate Buy” and a consensus target price of $40.00.

Triple Flag Precious Metals Stock Performance

TFPM opened at $27.98 on Friday. Triple Flag Precious Metals has a 52-week low of $22.60 and a 52-week high of $41.70. The firm has a market capitalization of $5.78 billion, a PE ratio of 18.53, a PEG ratio of 4.92 and a beta of -0.22. The business’s 50-day simple moving average is $32.81 and its 200 day simple moving average is $34.47.

Triple Flag Precious Metals (NYSE:TFPM) last released its earnings results on Tuesday, May 5th. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.02. Triple Flag Precious Metals had a return on equity of 12.90% and a net margin of 68.68%.The business had revenue of $147.00 million for the quarter, compared to analyst estimates of $147.00 million. On average, research analysts forecast that Triple Flag Precious Metals will post 1.43 earnings per share for the current year.

Hedge Funds Weigh In On Triple Flag Precious Metals

Institutional investors and hedge funds have recently made changes to their positions in the company. Bessemer Group Inc. acquired a new position in shares of Triple Flag Precious Metals in the third quarter valued at approximately $27,000. Banque Cantonale Vaudoise acquired a new position in shares of Triple Flag Precious Metals in the first quarter valued at approximately $33,000. Quarry LP acquired a new position in shares of Triple Flag Precious Metals in the third quarter valued at approximately $33,000. Aventura Private Wealth LLC acquired a new position in shares of Triple Flag Precious Metals in the fourth quarter valued at approximately $38,000. Finally, EverSource Wealth Advisors LLC grew its position in shares of Triple Flag Precious Metals by 120.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,217 shares of the company’s stock valued at $40,000 after purchasing an additional 664 shares during the last quarter. Institutional investors and hedge funds 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.