Triple Flag Precious Metals (NYSE:TFPM) Sets New 1-Year High After Earnings Beat

Triple Flag Precious Metals Corp. (NYSE:TFPM) shares reached a new 52-week high during trading on Thursday following a stronger than expected earnings report. The company traded as high as $26.97 and last traded at $26.64, with a volume of 206816 shares. The stock had previously closed at $24.77.

The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.03. Triple Flag Precious Metals had a return on equity of 8.90% and a net margin of 53.11%. The business had revenue of $94.09 million during the quarter, compared to analyst estimates of $82.76 million.

Triple Flag Precious Metals Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be paid a dividend of $0.0575 per share. This represents a $0.23 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Tuesday, September 2nd. This is an increase from Triple Flag Precious Metals’s previous quarterly dividend of $0.06. Triple Flag Precious Metals’s dividend payout ratio is 25.58%.

Analyst Ratings Changes

A number of brokerages have issued reports on TFPM. BMO Capital Markets lowered Triple Flag Precious Metals from an “outperform” rating to a “market perform” rating in a research note on Wednesday, June 25th. National Bank Financial raised Triple Flag Precious Metals to a “strong-buy” rating in a research note on Wednesday, April 23rd. Scotiabank reaffirmed a “sector perform” rating on shares of Triple Flag Precious Metals in a research note on Monday, April 14th. TD Securities reaffirmed a “buy” rating on shares of Triple Flag Precious Metals in a research note on Tuesday, June 24th. Finally, CIBC reaffirmed an “outperform” rating on shares of Triple Flag Precious Metals in a research note on Tuesday, July 15th. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $24.00.

Hedge Funds Weigh In On Triple Flag Precious Metals

A number of hedge funds have recently modified their holdings of TFPM. SVB Wealth LLC acquired a new position in shares of Triple Flag Precious Metals in the 1st quarter worth $34,000. ORG Wealth Partners LLC purchased a new stake in shares of Triple Flag Precious Metals in the second quarter valued at $97,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Triple Flag Precious Metals in the fourth quarter worth $134,000. Quantbot Technologies LP boosted its position in shares of Triple Flag Precious Metals by 1,258.9% in the first quarter. Quantbot Technologies LP now owns 9,390 shares of the company’s stock worth $180,000 after buying an additional 8,699 shares during the period. Finally, Drucker Wealth 3.0 LLC acquired a new position in Triple Flag Precious Metals during the second quarter valued at $206,000. 82.91% of the stock is currently owned by institutional investors and hedge funds.

Triple Flag Precious Metals Stock Up 7.4%

The firm has a 50-day moving average of $23.91 and a two-hundred day moving average of $20.70. The stock has a market capitalization of $5.49 billion, a price-to-earnings ratio of 30.94, a price-to-earnings-growth ratio of 1.12 and a beta of -0.20.

Triple Flag Precious Metals Company Profile

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.