Triple Flag Precious Metals (NYSE:TFPM) Hits New 52-Week High – Here’s What Happened

Triple Flag Precious Metals Corp. (NYSE:TFPM)’s stock price hit a new 52-week high on Thursday . The company traded as high as $20.19 and last traded at $19.86, with a volume of 709778 shares changing hands. The stock had previously closed at $18.35.

Analyst Upgrades and Downgrades

Separately, Raymond James reiterated an “outperform” rating on shares of Triple Flag Precious Metals in a report on Friday, April 4th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Triple Flag Precious Metals currently has an average rating of “Moderate Buy” and an average price target of $20.50.

Triple Flag Precious Metals Stock Up 8.2 %

The firm has a fifty day moving average of $18.00 and a 200-day moving average of $16.91. The firm has a market cap of $3.99 billion, a P/E ratio of -180.55, a PEG ratio of 0.78 and a beta of -0.25.

Triple Flag Precious Metals (NYSE:TFPM) last issued its earnings results on Wednesday, February 19th. The company reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.02. Triple Flag Precious Metals had a positive return on equity of 6.63% and a negative net margin of 8.58%. The firm had revenue of $74.21 million for the quarter, compared to analysts’ expectations of $74.10 million. Sell-side analysts anticipate that Triple Flag Precious Metals Corp. will post 0.71 EPS for the current year.

Triple Flag Precious Metals Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, March 3rd were issued a dividend of $0.055 per share. This represents a $0.22 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date of this dividend was Monday, March 3rd. Triple Flag Precious Metals’s dividend payout ratio (DPR) is currently -200.00%.

Hedge Funds Weigh In On Triple Flag Precious Metals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Tidal Investments LLC raised its position in shares of Triple Flag Precious Metals by 221.9% during the fourth quarter. Tidal Investments LLC now owns 1,717,347 shares of the company’s stock worth $25,829,000 after purchasing an additional 1,183,827 shares during the period. Norges Bank acquired a new stake in shares of Triple Flag Precious Metals during the fourth quarter worth about $15,696,000. Arrowstreet Capital Limited Partnership raised its position in shares of Triple Flag Precious Metals by 377.2% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 908,888 shares of the company’s stock worth $13,652,000 after purchasing an additional 718,408 shares during the period. Amundi acquired a new stake in shares of Triple Flag Precious Metals during the fourth quarter worth about $8,281,000. Finally, Millennium Management LLC raised its position in shares of Triple Flag Precious Metals by 104.6% during the fourth quarter. Millennium Management LLC now owns 442,678 shares of the company’s stock worth $6,650,000 after purchasing an additional 226,330 shares during the period. Institutional investors own 82.91% of the company’s stock.

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.