Triple Flag Precious Metals (NYSE:TFPM) Hits New 1-Year High - Here's Why

Key Points

• Triple Flag Precious Metals (NYSE:TFPM) reached a new 52-week high of $30.66 amid trading with a volume of 37,192 shares.
• The company reported $0.24 EPS for the last quarter, surpassing the consensus estimate of $0.21, with revenues totaling $94.09 million.
• Analysts have mixed ratings for TFPM, with a consensus rating of "Moderate Buy" and a target price of $24.00 per share.

Triple Flag Precious Metals Corp. (NYSE:TFPM - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $30.46 and last traded at $30.66, with a volume of 37192 shares changing hands. The stock had previously closed at $29.77.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on TFPM shares. Zacks Research raised Triple Flag Precious Metals from a "hold" rating to a "strong-buy" rating in a research note on Thursday, September 25th. 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. Canaccord Genuity Group lowered shares of Triple Flag Precious Metals from a "strong-buy" rating to a "hold" rating in a research report on Thursday. Raymond James Financial restated an "outperform" rating on shares of Triple Flag Precious Metals in a research report on Friday, August 8th. Finally, CIBC reaffirmed an "outperform" rating on shares of Triple Flag Precious Metals in a report on Tuesday, July 15th. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $24.00.

Triple Flag Precious Metals Stock Up 3.0%

The company has a market capitalization of $6.33 billion, a PE ratio of 35.74, a PEG ratio of 1.28 and a beta of -0.18. The company's 50 day moving average is $26.90 and its two-hundred day moving average is $23.74.

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, beating the consensus estimate of $0.21 by $0.03. Triple Flag Precious Metals had a net margin of 53.11% and a return on equity of 8.81%. The business had revenue of $94.09 million during the quarter, compared to the consensus estimate of $82.76 million. Analysts forecast that Triple Flag Precious Metals Corp. will post 0.71 EPS for the current year.

Triple Flag Precious Metals Increases Dividend

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Russell Investments Group Ltd. raised its stake in Triple Flag Precious Metals by 2.5% during the first quarter. Russell Investments Group Ltd. now owns 28,561 shares of the company's stock valued at $546,000 after purchasing an additional 703 shares in the last quarter. Employees Retirement System of Texas bought a new stake in shares of Triple Flag Precious Metals in the 2nd quarter worth about $36,000. SVB Wealth LLC purchased a new stake in shares of Triple Flag Precious Metals during the 1st quarter valued at about $34,000. American Century Companies Inc. lifted its holdings in shares of Triple Flag Precious Metals by 0.8% in the 1st quarter. American Century Companies Inc. now owns 241,071 shares of the company's stock valued at $4,612,000 after acquiring an additional 1,876 shares during the last quarter. Finally, Engineers Gate Manager LP increased its stake in Triple Flag Precious Metals by 20.5% during the second quarter. Engineers Gate Manager LP now owns 12,090 shares of the company's stock worth $286,000 after acquiring an additional 2,055 shares during the last quarter. 82.91% of the stock is owned by hedge funds and other institutional investors.

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.

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