Triple Flag Precious Metals (NYSE:TFPM) Issues Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Key Points

• Triple Flag reported Q earnings of $0.45 EPS, beating estimates by $0.02 while revenue of $147.0M matched expectations; the quarter showed a 10.82% ROE and a 61.74% net margin.
• The company declared a quarterly dividend of $0.0575 per share (annualized $0.23, yield 0.7%) with an ex-dividend date of June 1 and payment on June 15; shares traded up to $32.56, giving a market cap of $6.73B and a P/E of 27.59.
• Wall Street sentiment is mixed-to-positive with an average rating of "Moderate Buy" and a consensus price target of $34.33, while institutional ownership sits at 82.91% after notable stake increases by Goldman Sachs and JPMorgan.

Triple Flag Precious Metals (NYSE:TFPM - Get Free Report) announced its quarterly earnings data on Tuesday. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.02, Zacks reports. Triple Flag Precious Metals had a return on equity of 10.82% and a net margin of 61.74%.The firm had revenue of $147.00 million for the quarter, compared to analysts' expectations of $147.00 million.

Triple Flag Precious Metals Price Performance

Shares of NYSE TFPM traded up $1.44 during midday trading on Wednesday, reaching $32.56. 656,777 shares of the company traded hands, compared to its average volume of 625,076. Triple Flag Precious Metals has a 52 week low of $19.36 and a 52 week high of $41.70. The stock has a 50-day moving average price of $35.57 and a 200 day moving average price of $34.13. The company has a market cap of $6.73 billion, a price-to-earnings ratio of 27.59, a PEG ratio of 2.73 and a beta of -0.20.

Triple Flag Precious Metals Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be paid a dividend of $0.0575 per share. This represents a $0.23 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Monday, June 1st. Triple Flag Precious Metals's payout ratio is currently 19.49%.

Wall Street Analysts Forecast Growth

TFPM has been the topic of several research analyst reports. Scotiabank raised their price objective on Triple Flag Precious Metals from $34.00 to $43.00 and gave the stock a "sector perform" rating in a research note on Monday, January 26th. Canadian Imperial Bank of Commerce reiterated an "outperform" rating on shares of Triple Flag Precious Metals in a research note on Wednesday, February 4th. BMO Capital Markets reiterated a "market perform" rating on shares of Triple Flag Precious Metals in a research note on Thursday, January 15th. Wall Street Zen upgraded Triple Flag Precious Metals from a "hold" rating to a "buy" rating in a research note on Sunday, April 26th. Finally, Zacks Research cut Triple Flag Precious Metals from a "strong-buy" rating to a "hold" rating in a research note on Thursday, April 9th. Five analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat, Triple Flag Precious Metals presently has an average rating of "Moderate Buy" and a consensus price target of $34.33.

Institutional Investors Weigh In On Triple Flag Precious Metals

A number of hedge funds and other institutional investors have recently modified their holdings of TFPM. Goldman Sachs Group Inc. raised its stake in shares of Triple Flag Precious Metals by 69.8% during the first quarter. Goldman Sachs Group Inc. now owns 305,826 shares of the company's stock valued at $5,857,000 after purchasing an additional 125,746 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Triple Flag Precious Metals by 741.2% during the second quarter. JPMorgan Chase & Co. now owns 299,713 shares of the company's stock valued at $7,100,000 after purchasing an additional 264,082 shares in the last quarter. Russell Investments Group Ltd. raised its stake in shares of Triple Flag Precious Metals by 6.9% during the second quarter. Russell Investments Group Ltd. now owns 30,537 shares of the company's stock valued at $723,000 after purchasing an additional 1,976 shares in the last quarter. First Trust Advisors LP raised its stake in shares of Triple Flag Precious Metals by 94.5% during the second quarter. First Trust Advisors LP now owns 103,451 shares of the company's stock valued at $2,451,000 after purchasing an additional 50,263 shares in the last quarter. Finally, Qube Research & Technologies Ltd raised its stake in shares of Triple Flag Precious Metals by 30.1% during the second quarter. Qube Research & Technologies Ltd now owns 289,037 shares of the company's stock valued at $6,847,000 after purchasing an additional 66,938 shares in the last quarter. 82.91% of the stock is currently owned by institutional investors.

Triple Flag Precious Metals Company Profile

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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