Royal Bank Of Canada Issues Positive Forecast for Triple Flag Precious Metals (NYSE:TFPM) Stock Price

Key Points

• Royal Bank of Canada raised Triple Flag Precious Metals’ price target from $40 to $41 while maintaining a “sector perform” rating, implying approximately 28% upside from the stock’s $32.05 price.
• Analyst sentiment remains generally positive, with six Buy ratings and four Holds, producing a consensus “Moderate Buy” rating and an average target price of $39.25.
• Triple Flag reported quarterly adjusted earnings of $0.39 per share, exceeding the $0.33 consensus estimate, while institutional investors own approximately 82.9% of the company’s stock.

Triple Flag Precious Metals (NYSE:TFPM - Get Free Report) had its target price hoisted by equities researchers at Royal Bank Of Canada from $40.00 to $41.00 in a report issued on Wednesday, Benzinga reports. The firm presently has a "sector perform" rating on the stock. Royal Bank Of Canada's target price indicates a potential upside of 27.95% from the stock's current price.

Other equities analysts have also issued reports about the stock. BMO Capital Markets reiterated a "market perform" rating on shares of Triple Flag Precious Metals in a research report on Friday, June 12th. Jefferies Financial Group reduced their target price on Triple Flag Precious Metals from $43.00 to $40.00 and set a "buy" rating on the stock in a report on Monday, July 6th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Triple Flag Precious Metals in a research note on Wednesday, September 9th. Bank of America lowered their target price on shares of Triple Flag Precious Metals from $39.00 to $37.00 and set a "buy" rating for the company in a research note on Thursday, July 9th. Finally, Wall Street Zen cut Triple Flag Precious Metals from a "buy" rating to a "hold" rating in a report on Sunday, July 12th. Six analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, Triple Flag Precious Metals currently has a consensus rating of "Moderate Buy" and a consensus target price of $39.25.

Triple Flag Precious Metals Stock Down 1.6%

Shares of TFPM traded down $0.53 during trading hours on Wednesday, reaching $32.05. The company's stock had a trading volume of 232,602 shares, compared to its average volume of 630,008. The company has a 50 day moving average of $31.26 and a two-hundred day moving average of $32.44. The firm has a market cap of $6.60 billion, a price-to-earnings ratio of 16.11, a P/E/G ratio of 2.89 and a beta of -0.15. Triple Flag Precious Metals has a 1-year low of $26.61 and a 1-year high of $41.70.

Triple Flag Precious Metals (NYSE:TFPM - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.06. Triple Flag Precious Metals had a net margin of 84.32% and a return on equity of 14.09%. The firm had revenue of $129.20 million for the quarter, compared to analyst estimates of $129.20 million. As a group, analysts forecast that Triple Flag Precious Metals will post 1.43 EPS for the current fiscal year.

Hedge Funds Weigh In On Triple Flag Precious Metals

Several hedge funds and other institutional investors have recently bought and sold shares of TFPM. Tidal Investments LLC lifted its position in Triple Flag Precious Metals by 15.8% during the second quarter. Tidal Investments LLC now owns 2,949,715 shares of the company's stock valued at $88,403,000 after purchasing an additional 402,924 shares during the period. Van ECK Associates Corp lifted its position in shares of Triple Flag Precious Metals by 2.3% during the 2nd quarter. Van ECK Associates Corp now owns 2,336,139 shares of the company's stock valued at $70,018,000 after buying an additional 53,175 shares in the last quarter. Norges Bank bought a new stake in shares of Triple Flag Precious Metals during the 4th quarter valued at $49,550,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Triple Flag Precious Metals in the 2nd quarter worth approximately $29,283,000. Finally, TD Asset Management Inc lifted its holdings in shares of Triple Flag Precious Metals by 9.4% in the 4th quarter. TD Asset Management Inc now owns 734,670 shares of the company's stock worth $24,445,000 after acquiring an additional 63,128 shares during the last quarter. Institutional investors own 82.91% of the company's stock.

About Triple Flag Precious Metals

Triple Flag Precious Metals Corp. is a precious-metals streaming and royalty company. It provides financing to mining companies in exchange for the right to purchase a portion of future metal production at predetermined prices or to receive revenue-based payments from mining operations.

The company's portfolio is primarily focused on gold and silver, with additional exposure to other metals produced as byproducts of its investments. Its interests span a range of mining assets and projects in jurisdictions including North America, South America, Australia and Africa.

Triple Flag was established in 2016 and is headquartered in Toronto, Canada.

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