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

Shares of Triple Flag Precious Metals Corp. (NYSE:TFPM) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $21.90 and last traded at $21.63, with a volume of 369833 shares traded. The stock had previously closed at $21.60.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on TFPM shares. Raymond James reaffirmed an “outperform” rating on shares of Triple Flag Precious Metals in a research note on Friday, April 4th. Scotiabank upped their target price on shares of Triple Flag Precious Metals from $21.00 to $23.00 and gave the company a “sector outperform” rating in a research report on Monday. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $21.00.

Triple Flag Precious Metals Price Performance

The business has a 50 day simple moving average of $18.38 and a 200 day simple moving average of $17.03. The company has a market capitalization of $4.34 billion, a price-to-earnings ratio of -196.65, a PEG ratio of 0.78 and a beta of -0.25.

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

Triple Flag Precious Metals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, March 3rd were issued a $0.055 dividend. This represents a $0.22 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date of this dividend was Monday, March 3rd. Triple Flag Precious Metals’s dividend payout ratio (DPR) is currently -200.00%.

Institutional Investors Weigh In On Triple Flag Precious Metals

Hedge funds have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC increased its position in shares of Triple Flag Precious Metals by 175.6% during the fourth quarter. Farther Finance Advisors LLC now owns 1,896 shares of the company’s stock worth $29,000 after acquiring an additional 1,208 shares during the period. Northwest & Ethical Investments L.P. acquired a new position in Triple Flag Precious Metals during the 4th quarter worth $45,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Triple Flag Precious Metals during the 4th quarter worth about $134,000. Drive Wealth Management LLC acquired a new stake in Triple Flag Precious Metals in the 4th quarter valued at about $175,000. Finally, XTX Topco Ltd acquired a new stake in Triple Flag Precious Metals in the 3rd quarter valued at about $220,000. 82.91% of the stock is currently owned by institutional investors and hedge funds.

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.