Triple Flag Precious Metals (NYSE:TFPM) Upgraded by Wall Street Zen to Buy Rating

Triple Flag Precious Metals (NYSE:TFPM) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Saturday.

Several other analysts also recently issued reports on the stock. Zacks Research raised shares of Triple Flag Precious Metals from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 10th. Scotiabank raised their price target on shares of Triple Flag Precious Metals from $34.00 to $43.00 and gave the company a “sector perform” rating in a report on Monday, January 26th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Triple Flag Precious Metals in a research note on Wednesday, February 4th. Weiss Ratings reissued a “buy (b)” rating on shares of Triple Flag Precious Metals in a research report on Wednesday, January 21st. Finally, BMO Capital Markets restated a “market perform” rating on shares of Triple Flag Precious Metals in a research note on Thursday, January 15th. 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 company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $32.25.

Triple Flag Precious Metals Price Performance

Shares of TFPM opened at $37.64 on Friday. The stock’s 50-day moving average is $35.54 and its two-hundred day moving average is $31.39. The stock has a market cap of $7.77 billion, a PE ratio of 31.90, a P/E/G ratio of 0.98 and a beta of -0.21. Triple Flag Precious Metals has a 12 month low of $16.26 and a 12 month high of $40.29.

Triple Flag Precious Metals (NYSE:TFPM) last posted its earnings results on Wednesday, February 18th. The company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.01. The business had revenue of $118.92 million during the quarter, compared to analyst estimates of $114.92 million. Triple Flag Precious Metals had a return on equity of 10.82% and a net margin of 61.74%. On average, research analysts anticipate that Triple Flag Precious Metals will post 0.71 earnings per share for the current year.

Institutional Investors Weigh In On Triple Flag Precious Metals

A number of institutional investors have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Triple Flag Precious Metals by 39.9% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,642,566 shares of the company’s stock worth $77,373,000 after purchasing an additional 753,923 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in Triple Flag Precious Metals by 25.3% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 2,628,151 shares of the company’s stock worth $76,908,000 after buying an additional 530,357 shares during the last quarter. Van ECK Associates Corp grew its position in shares of Triple Flag Precious Metals by 10.8% in the 3rd quarter. Van ECK Associates Corp now owns 2,555,954 shares of the company’s stock worth $75,244,000 after acquiring an additional 250,123 shares in the last quarter. Tidal Investments LLC grew its position in shares of Triple Flag Precious Metals by 59.5% in the 3rd quarter. Tidal Investments LLC now owns 2,396,198 shares of the company’s stock worth $70,113,000 after acquiring an additional 893,566 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Triple Flag Precious Metals by 82.2% in the 4th quarter. Vanguard Group Inc. now owns 1,691,194 shares of the company’s stock valued at $56,198,000 after acquiring an additional 762,826 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.