Triple Flag Precious Metals (NYSE:TFPM) Given New $23.00 Price Target at Royal Bank of Canada

Triple Flag Precious Metals (NYSE:TFPM) had its price objective lifted by Royal Bank of Canada from $19.00 to $23.00 in a report published on Wednesday,BayStreet.CA reports. Royal Bank of Canada currently has a sector perform rating on the stock.

Other equities research analysts have also issued research reports about the company. Scotiabank reaffirmed a “sector perform” rating on shares of Triple Flag Precious Metals in a research report on Monday, April 14th. BMO Capital Markets restated an “outperform” rating on shares of Triple Flag Precious Metals in a report on Wednesday, April 23rd. National Bank Financial upgraded shares of Triple Flag Precious Metals to a “strong-buy” rating in a report on Wednesday, April 23rd. Jefferies Financial Group increased their price objective on shares of Triple Flag Precious Metals from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Tuesday, April 22nd. Finally, Raymond James reaffirmed an “outperform” rating on shares of Triple Flag Precious Metals in a research report on Wednesday, May 7th. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $24.00.

Triple Flag Precious Metals Stock Performance

Shares of NYSE:TFPM opened at $24.46 on Wednesday. The company has a 50 day moving average price of $20.93 and a two-hundred day moving average price of $18.15. The company has a market capitalization of $4.91 billion, a PE ratio of -222.36, a PEG ratio of 0.78 and a beta of -0.24. Triple Flag Precious Metals has a 52 week low of $13.94 and a 52 week high of $24.57.

Triple Flag Precious Metals (NYSE:TFPM) last released its quarterly earnings data on Tuesday, May 6th. The company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.01. The business had revenue of $82.25 million during the quarter, compared to analysts’ expectations of $72.14 million. Triple Flag Precious Metals had a negative net margin of 8.58% and a positive return on equity of 6.63%. On average, sell-side analysts forecast that Triple Flag Precious Metals will post 0.71 earnings per share for the current year.

Triple Flag Precious Metals Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 30th will be paid a dividend of $0.055 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.22 annualized dividend and a dividend yield of 0.90%. Triple Flag Precious Metals’s dividend payout ratio is currently 733.33%.

Institutional Investors Weigh In On Triple Flag Precious Metals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TFPM. Barclays PLC boosted its stake in shares of Triple Flag Precious Metals by 65.4% during the 4th quarter. Barclays PLC now owns 235,658 shares of the company’s stock worth $3,544,000 after buying an additional 93,214 shares during the last quarter. Bank of America Corp DE raised its holdings in Triple Flag Precious Metals by 43.2% during the fourth quarter. Bank of America Corp DE now owns 381,554 shares of the company’s stock worth $5,739,000 after acquiring an additional 115,103 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Triple Flag Precious Metals during the fourth quarter valued at approximately $464,000. Renaissance Technologies LLC grew its stake in Triple Flag Precious Metals by 9.0% in the fourth quarter. Renaissance Technologies LLC now owns 98,900 shares of the company’s stock valued at $1,487,000 after purchasing an additional 8,200 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Triple Flag Precious Metals by 5.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 421,461 shares of the company’s stock valued at $6,339,000 after purchasing an additional 21,012 shares in the last quarter. 82.91% of the stock is currently owned by institutional investors and hedge funds.

About Triple Flag Precious Metals

Triple Flag Precious Metals Corp., a precious-metals-focused streaming and royalty company, engages in acquiring and managing precious metals, streams, royalties and other mineral interests in Australia, Canada, Colombia, Cote d'Ivoire, Honduras, Mexico, Mongolia, Peru, South Africa, the United States, and internationally.