Scotiabank Has Lowered Expectations for Triple Flag Precious Metals (NYSE:TFPM) Stock Price

Key Points

• Scotiabank lowered its price target on Triple Flag Precious Metals from $43 to $39 while keeping a sector perform rating, implying upside from the prior close but less optimism than before.
• Analyst sentiment is mixed overall: recent moves include Canaccord Genuity upgrading the stock to buy, while other firms such as Zacks and Wall Street Zen issued downgrades. The stock currently has an average Moderate Buy rating and an average target price of $38.67.
• Triple Flag Precious Metals reported better-than-expected quarterly earnings of $0.45 per share versus $0.43 expected, with revenue matching estimates at $147 million. Institutional ownership remains high at 82.91% of shares outstanding.

Triple Flag Precious Metals (NYSE:TFPM - Get Free Report) had its price target lowered by stock analysts at Scotiabank from $43.00 to $39.00 in a report released on Tuesday,Benzinga reports. The firm presently has a "sector perform" rating on the stock. Scotiabank's target price suggests a potential upside of 39.26% from the stock's previous close.

Several other research analysts also recently commented on the stock. Canaccord Genuity Group upgraded shares of Triple Flag Precious Metals from a "hold" rating to a "buy" rating in a research report on Friday, June 12th. Zacks Research lowered Triple Flag Precious Metals from a "hold" rating to a "strong sell" rating in a report on Friday. Wall Street Zen downgraded Triple Flag Precious Metals from a "buy" rating to a "hold" rating in a report on Sunday. Weiss Ratings downgraded shares of Triple Flag Precious Metals from a "buy (b)" rating to a "buy (b-)" rating in a report on Friday, June 12th. Finally, 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 report on Thursday, July 9th. Six research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Triple Flag Precious Metals presently has an average rating of "Moderate Buy" and an average target price of $38.67.

Triple Flag Precious Metals Price Performance

NYSE:TFPM traded up $0.42 during trading hours on Tuesday, reaching $28.01. 217,391 shares of the company were exchanged, compared to its average volume of 659,143. The company has a market capitalization of $5.79 billion, a P/E ratio of 18.54, a P/E/G ratio of 2.64 and a beta of -0.19. The business has a 50 day moving average of $30.51 and a 200 day moving average of $33.88. Triple Flag Precious Metals has a 1-year low of $22.60 and a 1-year high of $41.70.

Triple Flag Precious Metals (NYSE:TFPM - Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $0.45 EPS for the quarter, topping 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 for the quarter, compared to analysts' expectations of $147.00 million. As a group, equities research analysts anticipate that Triple Flag Precious Metals will post 1.34 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Triple Flag Precious Metals

Hedge funds and other institutional investors have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Triple Flag Precious Metals by 39.9% in 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 acquiring an additional 753,923 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in shares of 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 worth $76,908,000 after acquiring an additional 530,357 shares in the last quarter. Tidal Investments LLC increased its stake in Triple Flag Precious Metals by 59.5% during the 3rd quarter. Tidal Investments LLC now owns 2,396,198 shares of the company's stock valued at $70,113,000 after purchasing an additional 893,566 shares in the last quarter. Vanguard Group Inc. boosted its position in Triple Flag Precious Metals by 82.2% in the fourth quarter. Vanguard Group Inc. now owns 1,691,194 shares of the company's stock worth $56,198,000 after purchasing an additional 762,826 shares during the last quarter. Finally, Norges Bank bought a new stake in Triple Flag Precious Metals in the 4th quarter valued at $49,550,000. Hedge funds and other institutional investors own 82.91% of the company's stock.

Triple Flag Precious Metals Company Profile

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.

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