Triple Flag Precious Metals (NYSE:TFPM) Rating Increased to Buy at Wall Street Zen

Triple Flag Precious Metals (NYSE:TFPM) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Saturday.

TFPM has been the topic of a number of other reports. Scotiabank increased their price target on Triple Flag Precious Metals from $34.00 to $43.00 and gave the stock a “sector perform” rating in a research report on Monday, January 26th. BMO Capital Markets reiterated a “market perform” rating on shares of Triple Flag Precious Metals in a research note on Thursday, January 15th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Triple Flag Precious Metals in a report on Wednesday, February 4th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Triple Flag Precious Metals in a report on Wednesday, January 21st. Finally, Zacks Research raised shares of Triple Flag Precious Metals from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 10th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $32.25.

Triple Flag Precious Metals Stock Performance

NYSE TFPM opened at $37.64 on Friday. Triple Flag Precious Metals has a one year low of $16.26 and a one year high of $40.29. The company has a 50-day simple moving average of $35.54 and a 200-day simple moving average of $31.39. The firm has a market capitalization of $7.77 billion, a PE ratio of 31.90, a price-to-earnings-growth ratio of 0.98 and a beta of -0.21.

Triple Flag Precious Metals (NYSE:TFPM) last released its quarterly earnings data on Wednesday, February 18th. The company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.01. Triple Flag Precious Metals had a net margin of 61.74% and a return on equity of 10.82%. The firm had revenue of $118.92 million for the quarter, compared to analyst estimates of $114.92 million. Equities analysts forecast that Triple Flag Precious Metals will post 0.71 earnings per share for the current year.

Institutional Trading of Triple Flag Precious Metals

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Bessemer Group Inc. acquired a new stake in shares of Triple Flag Precious Metals in the 3rd quarter worth approximately $27,000. Quarry LP bought a new stake in Triple Flag Precious Metals during the third quarter worth approximately $33,000. Aventura Private Wealth LLC acquired a new stake in Triple Flag Precious Metals in the fourth quarter worth approximately $38,000. EverSource Wealth Advisors LLC boosted its stake in Triple Flag Precious Metals by 120.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,217 shares of the company’s stock valued at $40,000 after purchasing an additional 664 shares in the last quarter. Finally, SBI Securities Co. Ltd. increased its position in shares of 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 valued at $41,000 after purchasing an additional 706 shares during the period. 82.91% of the stock is currently 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.