Triple Flag Precious Metals Corp. (NYSE:TFPM) Given Average Rating of “Moderate Buy” by Brokerages

Triple Flag Precious Metals Corp. (NYSE:TFPM) has been assigned a consensus recommendation of “Moderate Buy” from the eight research firms that are presently covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $24.00.

Several equities analysts have recently issued reports on the company. Raymond James Financial reiterated an “outperform” rating on shares of Triple Flag Precious Metals in a research note on Friday, August 8th. Royal Bank Of Canada boosted their price target on shares of Triple Flag Precious Metals from $19.00 to $23.00 and gave the stock a “sector perform” rating in a report on Wednesday, June 4th. Wall Street Zen downgraded shares of Triple Flag Precious Metals from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 2nd. CIBC reaffirmed an “outperform” rating on shares of Triple Flag Precious Metals in a research report on Tuesday, July 15th. Finally, TD Securities reissued a “buy” rating on shares of Triple Flag Precious Metals in a report on Tuesday, June 24th.

Triple Flag Precious Metals Price Performance

NYSE TFPM opened at $26.35 on Thursday. The company has a market cap of $5.44 billion, a P/E ratio of 30.64, a P/E/G ratio of 1.17 and a beta of -0.20. The stock has a 50-day moving average of $24.46 and a two-hundred day moving average of $21.66. Triple Flag Precious Metals has a 1-year low of $14.51 and a 1-year high of $27.17.

Triple Flag Precious Metals (NYSE:TFPM) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.03. Triple Flag Precious Metals had a net margin of 53.11% and a return on equity of 8.81%. The firm had revenue of $94.09 million during the quarter, compared to analysts’ expectations of $82.76 million. On average, analysts anticipate that Triple Flag Precious Metals will post 0.71 EPS for the current fiscal year.

Triple Flag Precious Metals Increases Dividend

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

Institutional Trading of Triple Flag Precious Metals

Several institutional investors and hedge funds have recently added to or reduced their stakes in TFPM. Tidal Investments LLC grew its stake in shares of Triple Flag Precious Metals by 221.9% in the 4th quarter. Tidal Investments LLC now owns 1,717,347 shares of the company’s stock valued at $25,829,000 after purchasing an additional 1,183,827 shares during the last quarter. Norges Bank purchased a new stake in shares of Triple Flag Precious Metals during the second quarter worth approximately $24,816,000. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Triple Flag Precious Metals by 67.4% during the second 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 during the period. Mackenzie Financial Corp grew its position in Triple Flag Precious Metals by 2,463.9% in the 1st quarter. Mackenzie Financial Corp now owns 835,240 shares of the company’s stock valued at $15,978,000 after buying an additional 802,663 shares during the last quarter. Finally, SCS Capital Management LLC acquired a new position in Triple Flag Precious Metals in the 1st quarter valued at $15,179,000. 82.91% of the stock is owned by hedge funds and other institutional investors.

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.