Triple Flag Precious Metals (NYSE:TFPM) Cut to “Hold” at Zacks Research

Zacks Research lowered shares of Triple Flag Precious Metals (NYSE:TFPM) from a strong-buy rating to a hold rating in a report released on Thursday morning,Zacks.com reports.

Other equities analysts have also issued research reports about the company. Canadian Imperial Bank of Commerce reissued 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 note on Wednesday, January 21st. Scotiabank boosted their price objective on Triple Flag Precious Metals from $34.00 to $43.00 and gave the stock a “sector perform” rating in a research note on Monday, January 26th. Wall Street Zen raised Triple Flag Precious Metals from a “hold” rating to a “buy” rating in a research note on Saturday, February 21st. Finally, BMO Capital Markets restated a “market perform” rating on shares of Triple Flag Precious Metals in a research report on Thursday, January 15th. One equities research 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’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $32.25.

Triple Flag Precious Metals Stock Up 0.6%

Shares of NYSE:TFPM opened at $35.60 on Thursday. The business has a 50-day moving average price of $36.00 and a 200-day moving average price of $33.66. The stock has a market cap of $7.35 billion, a price-to-earnings ratio of 30.17, a PEG ratio of 2.05 and a beta of -0.09. Triple Flag Precious Metals has a 52-week low of $19.36 and a 52-week high of $41.70.

Triple Flag Precious Metals (NYSE:TFPM) last released its quarterly earnings data on Wednesday, February 18th. The company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.01. The company had revenue of $118.92 million for 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%. As a group, equities analysts anticipate that Triple Flag Precious Metals will post 0.71 EPS for the current fiscal year.

Triple Flag Precious Metals Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 2nd were given a $0.0575 dividend. The ex-dividend date was Monday, March 2nd. This represents a $0.23 dividend on an annualized basis and a yield of 0.6%. Triple Flag Precious Metals’s payout ratio is currently 19.49%.

Institutional Investors Weigh In On Triple Flag Precious Metals

Several institutional investors and hedge funds have recently modified their holdings of TFPM. Goldman Sachs Group Inc. raised its holdings in shares of Triple Flag Precious Metals by 69.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 305,826 shares of the company’s stock valued at $5,857,000 after buying an additional 125,746 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Triple Flag Precious Metals by 741.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 299,713 shares of the company’s stock valued at $7,100,000 after buying an additional 264,082 shares during the period. Russell Investments Group Ltd. raised its holdings in shares of Triple Flag Precious Metals by 6.9% in the 2nd quarter. Russell Investments Group Ltd. now owns 30,537 shares of the company’s stock valued at $723,000 after buying an additional 1,976 shares during the period. First Trust Advisors LP raised its holdings in shares of Triple Flag Precious Metals by 94.5% in the 2nd quarter. First Trust Advisors LP now owns 103,451 shares of the company’s stock valued at $2,451,000 after buying an additional 50,263 shares during the period. Finally, Qube Research & Technologies Ltd raised its holdings in shares of Triple Flag Precious Metals by 30.1% in the 2nd quarter. Qube Research & Technologies Ltd now owns 289,037 shares of the company’s stock valued at $6,847,000 after buying an additional 66,938 shares during the period. Hedge funds and other institutional investors 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.