Triple Flag Precious Metals (NYSE:TFPM) Given New $23.00 Price Target at Royal Bank of Canada

Triple Flag Precious Metals (NYSE:TFPM) had its target price boosted by Royal Bank of Canada from $19.00 to $23.00 in a research report released on Wednesday,BayStreet.CA reports. They currently have a sector perform rating on the stock.

Several other brokerages have also issued reports on TFPM. National Bank Financial raised shares of Triple Flag Precious Metals to a “strong-buy” rating in a research note on Wednesday, April 23rd. Scotiabank reaffirmed a “sector perform” rating on shares of Triple Flag Precious Metals in a research note on Monday, April 14th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Triple Flag Precious Metals in a report on Wednesday, April 23rd. Jefferies Financial Group increased their price target on Triple Flag Precious Metals from $24.00 to $26.00 and gave the company a “buy” rating in a research note on Tuesday, April 22nd. Finally, Raymond James restated an “outperform” rating on shares of Triple Flag Precious Metals in a research report on Wednesday, May 7th. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $24.00.

Triple Flag Precious Metals Stock Performance

Shares of TFPM opened at $23.96 on Wednesday. The business’s fifty day moving average price is $21.14 and its two-hundred day moving average price is $18.25. The firm has a market capitalization of $4.81 billion, a price-to-earnings ratio of -217.77, a PEG ratio of 0.78 and a beta of -0.24. Triple Flag Precious Metals has a 52 week low of $13.94 and a 52 week high of $25.36.

Triple Flag Precious Metals (NYSE:TFPM) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.01. The business had revenue of $82.25 million for the quarter, compared to analysts’ expectations of $72.14 million. Triple Flag Precious Metals had a positive return on equity of 6.63% and a negative net margin of 8.58%. As a group, research analysts forecast that Triple Flag Precious Metals will post 0.71 EPS for the current year.

Triple Flag Precious Metals Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 30th will be given a dividend of $0.055 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.22 dividend on an annualized basis and a dividend yield of 0.92%. Triple Flag Precious Metals’s dividend payout ratio is 733.33%.

Institutional Trading of Triple Flag Precious Metals

A number of large investors have recently made changes to their positions in the company. SVB Wealth LLC acquired a new position in Triple Flag Precious Metals in the first quarter valued at about $34,000. Farther Finance Advisors LLC increased its stake in Triple Flag Precious Metals by 175.6% during the 4th quarter. Farther Finance Advisors LLC now owns 1,896 shares of the company’s stock worth $29,000 after purchasing an additional 1,208 shares in the last quarter. Northwest & Ethical Investments L.P. acquired a new stake in Triple Flag Precious Metals during the 4th quarter worth approximately $45,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Triple Flag Precious Metals in the fourth quarter valued at approximately $134,000. Finally, Quantbot Technologies LP boosted its holdings in shares of Triple Flag Precious Metals by 1,258.9% in the first quarter. Quantbot Technologies LP now owns 9,390 shares of the company’s stock valued at $180,000 after buying an additional 8,699 shares during the period. Institutional investors own 82.91% of the company’s stock.

Triple Flag Precious Metals Company Profile

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.