Triple Flag Precious Metals Corp. (NYSE:TFPM) Declares 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) announced 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 of this dividend 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 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 Stock Up 7.4%

Shares of Triple Flag Precious Metals stock traded up $1.84 during trading on Thursday, hitting $26.61. 974,937 shares of the stock traded hands, compared to its average volume of 402,720. The firm's fifty day moving average is $23.81 and its 200-day moving average is $20.62. The stock has a market cap of $5.49 billion, a price-to-earnings ratio of 887.00, a PEG ratio of 1.11 and a beta of -0.20. Triple Flag Precious Metals has a 52 week low of $14.28 and a 52 week high of $26.97.

Triple Flag Precious Metals (NYSE:TFPM - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.21 by $0.03. The firm had revenue of $94.09 million for the quarter, compared to the consensus estimate of $82.76 million. Triple Flag Precious Metals had a return on equity of 7.69% and a net margin of 1.71%. On average, analysts forecast that Triple Flag Precious Metals will post 0.71 earnings per share for the current fiscal year.

Analyst Ratings Changes

TFPM has been the topic of several recent analyst reports. Raymond James Financial reissued an "outperform" rating on shares of Triple Flag Precious Metals in a research note on Thursday, July 10th. Scotiabank reiterated a "sector perform" rating on shares of Triple Flag Precious Metals in a research report on Monday, April 14th. National Bank Financial raised Triple Flag Precious Metals to a "strong-buy" rating in a research note on Wednesday, April 23rd. BMO Capital Markets cut shares of Triple Flag Precious Metals from an "outperform" rating to a "market perform" rating in a report on Wednesday, June 25th. Finally, CIBC restated an "outperform" rating on shares of Triple Flag Precious Metals in a report on Tuesday, July 15th. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $24.00.

Triple Flag Precious Metals Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.