Triple Flag Precious Metals Corp. (NYSE:TFPM) Receives $22.00 Consensus Price Target from Brokerages

Triple Flag Precious Metals Corp. (NYSE:TFPM) has earned a consensus rating of “Moderate Buy” from the seven research firms that are currently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $22.00.

A number of equities analysts have issued reports on TFPM shares. BMO Capital Markets reaffirmed an “outperform” rating on shares of Triple Flag Precious Metals in a research note on Wednesday, April 23rd. National Bank Financial raised shares of Triple Flag Precious Metals to a “strong-buy” rating in a report on Wednesday, April 23rd. Scotiabank restated a “sector perform” rating on shares of Triple Flag Precious Metals in a research report on Monday, April 14th. Raymond James reissued an “outperform” rating on shares of Triple Flag Precious Metals in a research note on Friday, April 4th. Finally, Jefferies Financial Group lifted their price target on shares of Triple Flag Precious Metals from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Tuesday, April 22nd.

Triple Flag Precious Metals Stock Down 1.7 %

Shares of NYSE TFPM opened at $20.22 on Friday. The stock has a market cap of $4.06 billion, a P/E ratio of -183.82, a P/E/G ratio of 0.78 and a beta of -0.25. The firm’s 50-day simple moving average is $19.26 and its 200 day simple moving average is $17.40. Triple Flag Precious Metals has a fifty-two week low of $13.94 and a fifty-two week high of $22.96.

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

Triple Flag Precious Metals Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, March 3rd were issued a dividend of $0.055 per share. The ex-dividend date was Monday, March 3rd. This represents a $0.22 dividend on an annualized basis and a dividend yield of 1.09%. Triple Flag Precious Metals’s dividend payout ratio 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 TFPM. Geode Capital Management LLC lifted its holdings in shares of Triple Flag Precious Metals by 148.3% in the third quarter. Geode Capital Management LLC now owns 64,744 shares of the company’s stock valued at $1,235,000 after purchasing an additional 38,673 shares in the last quarter. Barclays PLC raised its position in Triple Flag Precious Metals by 21.5% during the third quarter. Barclays PLC now owns 142,444 shares of the company’s stock valued at $2,304,000 after buying an additional 25,220 shares during the period. Perfromance Wealth Partners LLC boosted its position in Triple Flag Precious Metals by 69.6% during the 4th quarter. Perfromance Wealth Partners LLC now owns 68,304 shares of the company’s stock worth $1,027,000 after acquiring an additional 28,026 shares during the period. JPMorgan Chase & Co. boosted its position in Triple Flag Precious Metals by 24.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 69,094 shares of the company’s stock worth $1,118,000 after acquiring an additional 13,790 shares during the period. Finally, Norges Bank purchased a new position in Triple Flag Precious Metals during the 4th quarter valued at about $15,696,000. Institutional investors and hedge funds 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.