Triple Flag Precious Metals (NYSE:TFPM) Stock Price Up 8% – Time to Buy?

Triple Flag Precious Metals Corp. (NYSE:TFPM)’s stock price was up 8% during trading on Friday . The stock traded as high as $30.24 and last traded at $30.4330. 472,387 shares were traded during trading, a decline of 26% from the average daily volume of 636,485 shares. The stock had previously closed at $28.17.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on TFPM. Weiss Ratings downgraded Triple Flag Precious Metals from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, June 12th. Zacks Research lowered Triple Flag Precious Metals from a “strong-buy” rating to a “hold” rating in a research report on Thursday, April 9th. BMO Capital Markets reiterated a “market perform” rating on shares of Triple Flag Precious Metals in a research note on Friday, June 12th. Wall Street Zen raised Triple Flag Precious Metals from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Canaccord Genuity Group raised shares of Triple Flag Precious Metals from a “hold” rating to a “buy” rating in a research note on Friday, June 12th. Five equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Triple Flag Precious Metals presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.00.

Triple Flag Precious Metals Stock Up 6.1%

The business has a fifty day moving average of $31.50 and a 200 day moving average of $34.23. The firm has a market cap of $6.18 billion, a P/E ratio of 19.79, a PEG ratio of 3.16 and a beta of -0.22.

Triple Flag Precious Metals (NYSE:TFPM) last released its quarterly earnings data on Tuesday, May 5th. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.02. Triple Flag Precious Metals had a return on equity of 12.90% and a net margin of 68.68%.The company had revenue of $147.00 million during the quarter, compared to analysts’ expectations of $147.00 million. Research analysts expect that Triple Flag Precious Metals Corp. will post 1.52 EPS for the current year.

Triple Flag Precious Metals Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were given a dividend of $0.0575 per share. This represents a $0.23 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Monday, June 1st. Triple Flag Precious Metals’s payout ratio is 15.23%.

Hedge Funds Weigh In On Triple Flag Precious Metals

Large investors have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Triple Flag Precious Metals by 39.9% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,642,566 shares of the company’s stock worth $77,373,000 after buying an additional 753,923 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in Triple Flag Precious Metals by 25.3% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 2,628,151 shares of the company’s stock valued at $76,908,000 after acquiring an additional 530,357 shares during the period. Van ECK Associates Corp raised its holdings in Triple Flag Precious Metals by 10.8% in the 3rd quarter. Van ECK Associates Corp now owns 2,555,954 shares of the company’s stock valued at $75,244,000 after acquiring an additional 250,123 shares during the period. Tidal Investments LLC lifted its position in Triple Flag Precious Metals by 59.5% during the third quarter. Tidal Investments LLC now owns 2,396,198 shares of the company’s stock worth $70,113,000 after acquiring an additional 893,566 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in Triple Flag Precious Metals by 82.2% during the fourth quarter. Vanguard Group Inc. now owns 1,691,194 shares of the company’s stock worth $56,198,000 after acquiring an additional 762,826 shares during the last quarter. 82.91% of the stock is owned by institutional investors.

About Triple Flag Precious Metals

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.