Triple Flag Precious Metals Corp. (NYSE:TFPM) Announces Dividend Increase - $0.06 Per Share

Key Points

• Triple Flag Precious Metals Corp. has announced a quarterly dividend increase to $0.06 per share, marking a 4.5% hike from its previous dividend.
• The company reported earnings of $0.24 per share for the last quarter, surpassing expectations, with a revenue of $94.09 million against an estimate of $82.76 million.
• Triple Flag's stock price experienced a 7.4% increase during recent trading, reaching $26.61, and analysts have given it a consensus rating of "Moderate Buy."

Triple Flag Precious Metals Corp. (NYSE:TFPM - Get Free Report) declared a quarterly dividend on Thursday, August 7th, Wall Street Journal reports. Stockholders of record on Tuesday, September 2nd will be given a dividend of 0.0575 per share on Monday, September 15th. This represents a c) dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Tuesday, September 2nd. This is a 4.5% increase from Triple Flag Precious Metals's previous quarterly dividend of $0.06.

Triple Flag Precious Metals has a dividend payout ratio of 26.5% meaning its dividend is sufficiently covered by earnings. Analysts expect Triple Flag Precious Metals to earn $0.71 per share next year, which means the company should continue to be able to cover its $0.22 annual dividend with an expected future payout ratio of 31.0%.

Triple Flag Precious Metals Trading Down 0.6%

NYSE:TFPM traded down $0.15 during mid-day trading on Monday, hitting $26.31. The stock had a trading volume of 130,431 shares, compared to its average volume of 402,977. The stock has a market capitalization of $5.43 billion, a price-to-earnings ratio of 30.69, a P/E/G ratio of 1.20 and a beta of -0.20. The company has a 50 day simple moving average of $24.00 and a 200-day simple moving average of $20.84. Triple Flag Precious Metals has a 52 week low of $14.51 and a 52 week high of $27.14.

Triple Flag Precious Metals (NYSE:TFPM - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.21 by $0.03. The firm had revenue of $94.09 million for the quarter, compared to analysts' expectations of $82.76 million. Triple Flag Precious Metals had a net margin of 53.11% and a return on equity of 8.81%. As a group, equities research analysts anticipate that Triple Flag Precious Metals will post 0.71 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on TFPM. Royal Bank Of Canada lifted their price objective on shares of Triple Flag Precious Metals from $19.00 to $23.00 and gave the stock a "sector perform" rating in a research note on Wednesday, June 4th. BMO Capital Markets cut shares of Triple Flag Precious Metals from an "outperform" rating to a "market perform" rating in a research note on Wednesday, June 25th. CIBC reaffirmed an "outperform" rating on shares of Triple Flag Precious Metals in a research note on Tuesday, July 15th. TD Securities reiterated a "buy" rating on shares of Triple Flag Precious Metals in a report on Tuesday, June 24th. Finally, National Bank Financial upgraded shares of Triple Flag Precious Metals to a "strong-buy" rating in a report on Wednesday, April 23rd. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $24.00.

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.