Triple Flag Precious Metals (NYSE:TFPM) Sets New 1-Year High – Time to Buy?

Triple Flag Precious Metals Corp. (NYSE:TFPM) shares hit a new 52-week high on Friday . The stock traded as high as $35.79 and last traded at $35.6710, with a volume of 175432 shares trading hands. The stock had previously closed at $34.90.

Analyst Upgrades and Downgrades

TFPM has been the subject of several research analyst reports. Scotiabank reduced their target price on shares of Triple Flag Precious Metals from $35.00 to $34.00 and set a “sector perform” rating for the company in a report on Friday, November 7th. Zacks Research downgraded shares of Triple Flag Precious Metals from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 25th. Canaccord Genuity Group cut Triple Flag Precious Metals from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 2nd. Wall Street Zen lowered Triple Flag Precious Metals from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Finally, Raymond James Financial reissued an “outperform” rating on shares of Triple Flag Precious Metals in a report on Friday, October 10th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $30.00.

Triple Flag Precious Metals Stock Performance

The stock’s 50-day simple moving average is $31.43 and its 200-day simple moving average is $28.09. The stock has a market cap of $7.33 billion, a price-to-earnings ratio of 35.12, a price-to-earnings-growth ratio of 0.97 and a beta of -0.22. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 0.01.

Triple Flag Precious Metals (NYSE:TFPM) last issued its quarterly earnings results on Tuesday, November 4th. The company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.02. The business had revenue of $93.50 million during the quarter, compared to analysts’ expectations of $87.46 million. Triple Flag Precious Metals had a return on equity of 9.56% and a net margin of 59.43%. Analysts forecast that Triple Flag Precious Metals Corp. will post 0.71 earnings per share for the current fiscal year.

Triple Flag Precious Metals Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 1st were issued a dividend of $0.0575 per share. This represents a $0.23 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend was Monday, December 1st. Triple Flag Precious Metals’s dividend payout ratio is 22.77%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of TFPM. Bessemer Group Inc. bought a new stake in shares of Triple Flag Precious Metals during the 3rd quarter worth approximately $27,000. Quarry LP bought a new position in Triple Flag Precious Metals in the third quarter valued at approximately $33,000. SBI Securities Co. Ltd. raised its position in Triple Flag Precious Metals by 100.6% during the third quarter. SBI Securities Co. Ltd. now owns 1,408 shares of the company’s stock valued at $41,000 after purchasing an additional 706 shares in the last quarter. Employees Retirement System of Texas bought a new stake in Triple Flag Precious Metals during the second quarter worth $36,000. Finally, Caitlin John LLC bought a new stake in Triple Flag Precious Metals during the third quarter worth $98,000. Institutional investors and hedge funds own 82.91% of the company’s stock.

Triple Flag Precious Metals Company Profile

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.