Triple Flag Precious Metals Corp. (NYSE:TFPM) Increases Dividend to $0.06 Per Share

Key Points

• Triple Flag Precious Metals raised its quarterly dividend to $0.06 per share, payable September 15 to shareholders of record on August 31. The dividend implies an annualized yield of approximately 0.7% and is described as a 4.3% increase from the prior payout.
• The dividend appears well covered, with a current payout ratio of 27.7% and an expected future payout ratio of 16.7% based on analysts’ projected earnings.
• Triple Flag reported quarterly EPS of $0.39, exceeding the $0.33 consensus estimate, while analysts maintain a “Moderate Buy” consensus and an average price target of $38.67.

Triple Flag Precious Metals Corp. (NYSE:TFPM - Get Free Report) announced a quarterly dividend on Wednesday, August 5th. Investors of record on Monday, August 31st will be given a dividend of 0.06 per share on Tuesday, September 15th. This represents a c) annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Monday, August 31st. This is a 4.3% increase from Triple Flag Precious Metals's previous quarterly dividend of $0.06.

Triple Flag Precious Metals has a dividend payout ratio of 27.7% meaning its dividend is sufficiently covered by earnings. Analysts expect Triple Flag Precious Metals to earn $1.38 per share next year, which means the company should continue to be able to cover its $0.23 annual dividend with an expected future payout ratio of 16.7%.

Triple Flag Precious Metals Price Performance

Shares of TFPM stock traded up $0.78 on Thursday, hitting $32.05. 284,427 shares of the stock traded hands, compared to its average volume of 634,765. The company's fifty day moving average is $29.24 and its 200 day moving average is $33.16. Triple Flag Precious Metals has a 1-year low of $24.75 and a 1-year high of $41.70. The company has a market capitalization of $6.60 billion, a PE ratio of 21.25, a PEG ratio of 2.64 and a beta of -0.18.

Triple Flag Precious Metals (NYSE:TFPM - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.39 EPS for the quarter, topping analysts' consensus estimates of $0.33 by $0.06. Triple Flag Precious Metals had a net margin of 68.68% and a return on equity of 12.90%. The firm had revenue of $129.20 million during the quarter, compared to the consensus estimate of $129.20 million. As a group, equities research analysts expect that Triple Flag Precious Metals will post 1.43 EPS for the current year.

Analyst Upgrades and Downgrades

TFPM has been the topic of a number of recent research reports. Zacks Research cut shares of Triple Flag Precious Metals from a "hold" rating to a "strong sell" rating in a report on Friday, July 10th. Canaccord Genuity Group raised Triple Flag Precious Metals from a "hold" rating to a "buy" rating in a report on Friday, June 12th. Wall Street Zen downgraded Triple Flag Precious Metals from a "buy" rating to a "hold" rating in a research note on Sunday, July 12th. Weiss Ratings lowered Triple Flag Precious Metals from a "buy (b)" rating to a "buy (b-)" rating in a research report on Friday, June 12th. Finally, Scotiabank cut their target price on Triple Flag Precious Metals from $43.00 to $39.00 and set a "sector perform" rating on the stock in a research note on Tuesday, July 14th. Six investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $38.67.

About Triple Flag Precious Metals

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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