Triple Flag Precious Metals (NYSE:TFPM) Downgraded to Hold Rating by Zacks Research

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

Several other analysts also recently commented on the stock. Canaccord Genuity Group downgraded shares of Triple Flag Precious Metals from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 2nd. Bank of America increased their target price on shares of Triple Flag Precious Metals from $33.00 to $37.00 and gave the stock a “buy” rating in a research note on Thursday, October 16th. Wall Street Zen cut shares of Triple Flag Precious Metals from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Raymond James Financial reaffirmed an “outperform” rating on shares of Triple Flag Precious Metals in a research note on Friday, October 10th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Triple Flag Precious Metals in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $30.00.

Triple Flag Precious Metals Stock Up 2.9%

Shares of NYSE:TFPM opened at $32.49 on Tuesday. Triple Flag Precious Metals has a 1 year low of $14.51 and a 1 year high of $33.51. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.68 and a quick ratio of 1.68. The business’s 50-day moving average is $29.65 and its 200-day moving average is $26.25. The company has a market capitalization of $6.71 billion, a price-to-earnings ratio of 32.17, a P/E/G ratio of 0.89 and a beta of -0.18.

Triple Flag Precious Metals (NYSE:TFPM) last released its earnings results on Tuesday, November 4th. The company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.22 by $0.02. The business had revenue of $93.50 million during the quarter, compared to analysts’ expectations of $87.46 million. Triple Flag Precious Metals had a return on equity of 9.56% and a net margin of 59.43%. Equities research analysts predict that Triple Flag Precious Metals will post 0.71 earnings per share for the current year.

Triple Flag Precious Metals Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be paid a dividend of $0.0575 per share. This represents a $0.23 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Monday, December 1st. Triple Flag Precious Metals’s payout ratio is 22.77%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in TFPM. Public Employees Retirement System of Ohio increased its position in shares of Triple Flag Precious Metals by 2.2% during the third quarter. Public Employees Retirement System of Ohio now owns 16,751 shares of the company’s stock worth $491,000 after acquiring an additional 368 shares in the last quarter. Goehring & Rozencwajg Associates LLC lifted its position in Triple Flag Precious Metals by 0.6% in the 3rd quarter. Goehring & Rozencwajg Associates LLC now owns 100,724 shares of the company’s stock valued at $2,948,000 after acquiring an additional 636 shares in the last quarter. Parvin Asset Management LLC boosted its stake in Triple Flag Precious Metals by 1.7% during the 3rd quarter. Parvin Asset Management LLC now owns 38,940 shares of the company’s stock valued at $1,139,000 after purchasing an additional 650 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in Triple Flag Precious Metals by 2.5% during the 1st quarter. Russell Investments Group Ltd. now owns 28,561 shares of the company’s stock valued at $546,000 after purchasing an additional 703 shares during the last quarter. Finally, SBI Securities Co. Ltd. increased its holdings in Triple Flag Precious Metals by 100.6% during the 3rd quarter. SBI Securities Co. Ltd. now owns 1,408 shares of the company’s stock worth $41,000 after purchasing an additional 706 shares in the last quarter. 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.