Triple Flag Precious Metals (NYSE:TFPM) Hits New 1-Year High - Still a Buy?

Key Points

• Triple Flag Precious Metals shares reached a new 52-week high of $29.58, with a closing price of $29.21 and a trading volume of 49,614 shares.
• Several analysts have upgraded the stock, with Zacks Research rating it as a strong-buy and establishing a consensus target price of $24.00, indicating positive market sentiment.
• The company recently announced an increase in its quarterly dividend to $0.0575 per share, representing an annualized yield of 0.8% and reflecting a payout ratio of 26.74%.

Triple Flag Precious Metals Corp. (NYSE:TFPM - Get Free Report)'s share price hit a new 52-week high on Monday . The stock traded as high as $29.58 and last traded at $29.21, with a volume of 49614 shares changing hands. The stock had previously closed at $28.63.

Analyst Upgrades and Downgrades

Several research firms have issued reports on TFPM. Raymond James Financial restated an "outperform" rating on shares of Triple Flag Precious Metals in a report on Friday, August 8th. Zacks Research raised Triple Flag Precious Metals from a "hold" rating to a "strong-buy" rating in a research report on Thursday. Wall Street Zen raised shares of Triple Flag Precious Metals from a "hold" rating to a "buy" rating in a report on Saturday, September 13th. BMO Capital Markets cut shares of Triple Flag Precious Metals from an "outperform" rating to a "market perform" rating in a report on Wednesday, June 25th. Finally, CIBC reaffirmed an "outperform" rating on shares of Triple Flag Precious Metals in a report on Tuesday, July 15th. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $24.00.

Triple Flag Precious Metals Stock Up 2.1%

The firm's 50-day moving average price is $26.33 and its 200 day moving average price is $23.37. The firm has a market cap of $6.04 billion, a P/E ratio of 33.95, a price-to-earnings-growth ratio of 1.23 and a beta of -0.19.

Triple Flag Precious Metals (NYSE:TFPM - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.24 earnings per share 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 firm had revenue of $94.09 million for the quarter, compared to the consensus estimate of $82.76 million. On average, equities 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 announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Tuesday, September 2nd were given 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 0.8%. This is a boost from Triple Flag Precious Metals's previous quarterly dividend of $0.06. Triple Flag Precious Metals's payout ratio is currently 26.74%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Osaic Holdings Inc. raised its holdings in Triple Flag Precious Metals by 4,954.7% during the second quarter. Osaic Holdings Inc. now owns 5,914 shares of the company's stock worth $140,000 after purchasing an additional 5,797 shares in the last quarter. Orion Porfolio Solutions LLC increased its position in shares of Triple Flag Precious Metals by 215.1% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 81,856 shares of the company's stock valued at $1,939,000 after purchasing an additional 55,878 shares during the period. Tower Research Capital LLC TRC raised its stake in shares of Triple Flag Precious Metals by 160.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,015 shares of the company's stock worth $119,000 after buying an additional 3,086 shares in the last quarter. Man Group plc acquired a new stake in shares of Triple Flag Precious Metals in the second quarter valued at $408,000. Finally, Engineers Gate Manager LP boosted 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 valued at $286,000 after buying an additional 2,055 shares in the last quarter. 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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