Triple Flag Precious Metals Corp. (NYSE:TFPM) Receives $24.00 Average Price Target from Brokerages

Key Points

• Triple Flag Precious Metals Corp. has received an average rating of "Moderate Buy" from analysts, with an average price target of $24.00 per share.
• The company reported earnings of $0.24 per share for the last quarter, exceeding analysts' expectations and achieving revenue of $94.09 million.
• Triple Flag recently increased its quarterly dividend to $0.0575 per share, showing a commitment to returning value to shareholders despite a payout ratio of 26.74%.

Triple Flag Precious Metals Corp. (NYSE:TFPM - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the eight brokerages that are presently covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $24.00.

TFPM has been the topic of several research reports. Wall Street Zen raised Triple Flag Precious Metals from a "hold" rating to a "buy" rating in a research report on Saturday, September 13th. TD Securities reaffirmed a "buy" rating on shares of Triple Flag Precious Metals in a research report on Tuesday, June 24th. Royal Bank Of Canada upped their price target on 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 downgraded Triple Flag Precious Metals from an "outperform" rating to a "market perform" rating in a research note on Wednesday, June 25th. Finally, CIBC restated an "outperform" rating on shares of Triple Flag Precious Metals in a research note on Tuesday, July 15th.

Hedge Funds Weigh In On Triple Flag Precious Metals

Institutional investors and hedge funds have recently made changes to their positions in the company. Goldman Sachs Group Inc. lifted its stake in shares of Triple Flag Precious Metals by 69.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 305,826 shares of the company's stock valued at $5,857,000 after acquiring an additional 125,746 shares during the last quarter. Ascent Group LLC bought a new position in Triple Flag Precious Metals in the 1st quarter valued at about $327,000. Bank of America Corp DE grew its holdings in shares of Triple Flag Precious Metals by 43.2% in the fourth quarter. Bank of America Corp DE now owns 381,554 shares of the company's stock valued at $5,739,000 after acquiring an additional 115,103 shares in the last quarter. SCS Capital Management LLC bought a new stake in shares of Triple Flag Precious Metals in the 1st quarter worth approximately $15,179,000. Finally, Public Employees Retirement System of Ohio bought a new stake in shares of Triple Flag Precious Metals in the 4th quarter worth approximately $255,000. Institutional investors and hedge funds own 82.91% of the company's stock.

Triple Flag Precious Metals Trading Up 0.5%

TFPM stock traded up $0.14 during midday trading on Monday, hitting $28.47. 709,758 shares of the company's stock were exchanged, compared to its average volume of 686,893. Triple Flag Precious Metals has a 12-month low of $14.51 and a 12-month high of $29.30. The stock has a market capitalization of $5.88 billion, a price-to-earnings ratio of 33.10, a price-to-earnings-growth ratio of 1.22 and a beta of -0.19. The firm has a 50 day moving average price of $25.94 and a 200-day moving average price of $23.09.

Triple Flag Precious Metals (NYSE:TFPM - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.21 by $0.03. The company had revenue of $94.09 million during the quarter, compared to analyst estimates of $82.76 million. Triple Flag Precious Metals had a return on equity of 8.81% and a net margin of 53.11%. On average, sell-side analysts forecast that Triple Flag Precious Metals will post 0.71 EPS for the current fiscal year.

Triple Flag Precious Metals Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd were given a $0.0575 dividend. This represents a $0.23 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Tuesday, September 2nd. This is a positive change from Triple Flag Precious Metals's previous quarterly dividend of $0.06. Triple Flag Precious Metals's dividend payout ratio is 26.74%.

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.