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

Key Points

• Triple Flag Precious Metals shares reached a new 52-week high of $31.88, showing strong trading volume of 415,429 shares.
• The company recently announced an increase in its quarterly dividend to $0.0575 per share, with an annualized yield of 0.7%.
• Analyst ratings for TFPM vary, with two analysts giving it a Strong Buy rating and others ranging from Buy to Hold, leading to a consensus rating of "Moderate Buy."

Shares of Triple Flag Precious Metals Corp. (NYSE:TFPM - Get Free Report) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $31.76 and last traded at $31.88, with a volume of 415429 shares traded. The stock had previously closed at $31.00.

Analyst Ratings Changes

TFPM has been the topic of several research reports. CIBC restated an "outperform" rating on shares of Triple Flag Precious Metals in a report on Tuesday, July 15th. Canaccord Genuity Group cut shares of Triple Flag Precious Metals from a "strong-buy" rating to a "hold" rating in a report on Thursday, October 2nd. Zacks Research upgraded shares of Triple Flag Precious Metals from a "hold" rating to a "strong-buy" rating in a report on Thursday, September 25th. Raymond James Financial restated an "outperform" rating on shares of Triple Flag Precious Metals in a report on Friday. Finally, Wall Street Zen cut shares of Triple Flag Precious Metals from a "buy" rating to a "hold" rating in a research note on Saturday. Two 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 company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $24.00.

Triple Flag Precious Metals Stock Performance

The stock has a market capitalization of $6.57 billion, a P/E ratio of 37.06, a P/E/G ratio of 1.29 and a beta of -0.18. The company's 50-day moving average price is $27.75 and its 200 day moving average price is $24.20.

Triple Flag Precious Metals (NYSE:TFPM - Get Free Report) last announced 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. 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 net margin of 53.11% and a return on equity of 8.81%. Analysts predict that Triple Flag Precious Metals Corp. will post 0.71 earnings per share for the current year.

Triple Flag Precious Metals Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd were issued a $0.0575 dividend. The ex-dividend date was Tuesday, September 2nd. This represents a $0.23 dividend on an annualized basis and a yield of 0.7%. This is an increase from Triple Flag Precious Metals's previous quarterly dividend of $0.06. Triple Flag Precious Metals's payout ratio is presently 26.74%.

Institutional Trading of Triple Flag Precious Metals

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Intact Investment Management Inc. increased its holdings in shares of Triple Flag Precious Metals by 307.7% in the 1st quarter. Intact Investment Management Inc. now owns 106,000 shares of the company's stock worth $2,028,000 after buying an additional 80,000 shares during the last quarter. Goehring & Rozencwajg Associates LLC increased its holdings in shares of Triple Flag Precious Metals by 2.2% in the 1st quarter. Goehring & Rozencwajg Associates LLC now owns 101,856 shares of the company's stock worth $1,957,000 after buying an additional 2,200 shares during the last quarter. Alps Advisors Inc. bought a new stake in shares of Triple Flag Precious Metals in the 1st quarter worth about $779,000. Genus Capital Management Inc. bought a new stake in shares of Triple Flag Precious Metals in the 1st quarter worth about $721,000. Finally, Proficio Capital Partners LLC bought a new stake in shares of Triple Flag Precious Metals in the 1st quarter worth about $1,124,000. 82.91% of the stock is currently owned by institutional investors.

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.

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