Triple Flag Precious Metals (NYSE:TFPM) Downgraded by Zacks Research to "Hold"

Key Points

• Zacks Research downgraded Triple Flag Precious Metals (NYSE:TFPM) from a "strong-buy" to a "hold" in its latest note to investors.
• Analyst sentiment is mixed but tilted positive with a consensus rating of "Moderate Buy", an average target price of $32.25, and individual firm views ranging from Strong Buy to Hold (one Strong Buy, six Buy, five Hold); Scotiabank raised its price target to $43.00.
• TFPM trades around $35.60 with a $7.35 billion market cap and a P/E of 30.17, recently beat quarterly EPS ($0.33 vs. $0.32) and revenue estimates, and is heavily institutionally owned (~82.9%).

Triple Flag Precious Metals (NYSE:TFPM - Get Free Report) was downgraded by Zacks Research from a "strong-buy" rating to a "hold" rating in a note issued to investors on Thursday,Zacks.com reports.

A number of other equities analysts also recently issued reports on the stock. Canadian Imperial Bank of Commerce reaffirmed an "outperform" rating on shares of Triple Flag Precious Metals in a report on Wednesday, February 4th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Triple Flag Precious Metals in a report on Wednesday, January 21st. BMO Capital Markets reaffirmed a "market perform" rating on shares of Triple Flag Precious Metals in a report on Thursday, January 15th. Wall Street Zen raised shares of Triple Flag Precious Metals from a "hold" rating to a "buy" rating in a report on Saturday, February 21st. Finally, Scotiabank lifted their price objective on shares of Triple Flag Precious Metals from $34.00 to $43.00 and gave the stock a "sector perform" rating in a report on Monday, January 26th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $32.25.

Triple Flag Precious Metals Trading Up 0.6%

NYSE TFPM opened at $35.60 on Thursday. The company has a fifty day simple moving average of $36.00 and a 200 day simple moving average of $33.62. Triple Flag Precious Metals has a 12-month low of $19.36 and a 12-month high of $41.70. The company has a market cap of $7.35 billion, a P/E ratio of 30.17, a PEG ratio of 2.04 and a beta of -0.09.

Triple Flag Precious Metals (NYSE:TFPM - Get Free Report) last posted its quarterly earnings results on Wednesday, February 18th. The company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.01. The business had revenue of $118.92 million during the quarter, compared to the consensus estimate of $114.92 million. Triple Flag Precious Metals had a net margin of 61.74% and a return on equity of 10.82%. Sell-side analysts predict that Triple Flag Precious Metals will post 0.71 EPS for the current year.

Hedge Funds Weigh In On Triple Flag Precious Metals

A number of hedge funds and other institutional investors have recently made changes to their positions in TFPM. Norges Bank purchased a new position in shares of Triple Flag Precious Metals in the 4th quarter worth about $49,550,000. Tidal Investments LLC boosted its holdings in shares of Triple Flag Precious Metals by 59.5% in the 3rd quarter. Tidal Investments LLC now owns 2,396,198 shares of the company's stock worth $70,113,000 after buying an additional 893,566 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Triple Flag Precious Metals by 1,619.6% in the 3rd quarter. Vanguard Group Inc. now owns 928,368 shares of the company's stock worth $27,177,000 after buying an additional 874,382 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings 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 buying an additional 753,923 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its holdings 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 buying an additional 530,357 shares during the last quarter. 82.91% of the stock is owned by hedge funds and other institutional investors.

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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