Wall Street Zen Downgrades Triple Flag Precious Metals (NYSE:TFPM) to Hold

Key Points

• Triple Flag Precious Metals has been downgraded from a "buy" to a "hold" rating by Wall Street Zen, reflecting a shift in analyst sentiment.
• Despite the downgrade, the stock currently holds an average rating of "Moderate Buy" with a price target of $24.00.
• The company's latest quarterly report showed an EPS of $0.24, surpassing estimates, and revenue of $94.09 million, indicating strong financial performance.

Triple Flag Precious Metals (NYSE:TFPM - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "buy" rating to a "hold" rating in a report released on Friday.

A number of other equities analysts have also weighed in on the company. BMO Capital Markets lowered Triple Flag Precious Metals from an "outperform" rating to a "market perform" rating in a research note on Wednesday, June 25th. Raymond James Financial reissued an "outperform" rating on shares of Triple Flag Precious Metals in a research note on Friday, August 8th. CIBC reissued an "outperform" rating on shares of Triple Flag Precious Metals in a research note on Tuesday, July 15th. Royal Bank Of Canada boosted their price objective on Triple Flag Precious Metals from $19.00 to $23.00 and gave the stock a "sector perform" rating in a research note on Wednesday, June 4th. Finally, TD Securities reaffirmed a "buy" rating on shares of Triple Flag Precious Metals in a research note on Tuesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Triple Flag Precious Metals has a consensus rating of "Moderate Buy" and an average price target of $24.00.

Triple Flag Precious Metals Stock Performance

Shares of NYSE:TFPM traded up $0.63 during trading on Friday, reaching $28.88. The stock had a trading volume of 414,927 shares, compared to its average volume of 663,928. The business has a fifty day moving average price of $25.30 and a 200-day moving average price of $22.47. The stock has a market cap of $5.96 billion, a PE ratio of 33.58, a PEG ratio of 1.25 and a beta of -0.19. Triple Flag Precious Metals has a 1-year low of $14.51 and a 1-year high of $29.25.

Triple Flag Precious Metals (NYSE:TFPM - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.21 by $0.03. The firm had revenue of $94.09 million for the quarter, compared to analyst estimates of $82.76 million. Triple Flag Precious Metals had a return on equity of 8.81% and a net margin of 53.11%. Sell-side analysts expect that Triple Flag Precious Metals will post 0.71 earnings per share for the current year.

Institutional Investors Weigh In On Triple Flag Precious Metals

Several institutional investors and hedge funds have recently modified their holdings of the company. Osaic Holdings Inc. raised its holdings in shares of Triple Flag Precious Metals by 4,954.7% in the 2nd quarter. Osaic Holdings Inc. now owns 5,914 shares of the company's stock valued at $140,000 after buying an additional 5,797 shares during the period. Orion Porfolio Solutions LLC raised its holdings in shares of Triple Flag Precious Metals by 215.1% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 81,856 shares of the company's stock valued at $1,939,000 after buying an additional 55,878 shares during the period. Tower Research Capital LLC TRC raised its holdings 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 valued at $119,000 after buying an additional 3,086 shares during the period. Man Group plc acquired a new stake in Triple Flag Precious Metals in the 2nd quarter valued at about $408,000. Finally, Engineers Gate Manager LP raised its position in Triple Flag Precious Metals by 20.5% in the 2nd quarter. Engineers Gate Manager LP now owns 12,090 shares of the company's stock valued at $286,000 after purchasing an additional 2,055 shares in the last quarter. Hedge funds and other institutional investors own 82.91% of the company's stock.

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.