Triple Flag Precious Metals (NYSE:TFPM) Price Target Cut to $37.00 by Analysts at Bank of America

Key Points

• Bank of America cut its price target on Triple Flag Precious Metals from $39 to $37 but kept a buy rating, implying about 33.5% upside from the prior close.
• Analyst sentiment remains generally positive, with six Buy ratings and three Hold ratings; MarketBeat shows a Moderate Buy consensus and an average price target of $40.
• The stock fell 5.0% to $27.71 and the company recently reported Q1 earnings of $0.45 per share, topping estimates by $0.02 while revenue matched expectations.

Triple Flag Precious Metals (NYSE:TFPM - Get Free Report) had its price target dropped by stock analysts at Bank of America from $39.00 to $37.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a "buy" rating on the stock. Bank of America's price target would suggest a potential upside of 33.52% from the company's previous close.

A number of other equities research analysts have also issued reports on TFPM. Wall Street Zen raised shares of Triple Flag Precious Metals from a "hold" rating to a "buy" rating in a research note on Saturday, June 27th. Zacks Research lowered Triple Flag Precious Metals from a "strong-buy" rating to a "hold" rating in a report on Thursday, April 9th. Weiss Ratings downgraded Triple Flag Precious Metals from a "buy (b)" rating to a "buy (b-)" rating in a research note on Friday, June 12th. Canaccord Genuity Group raised Triple Flag Precious Metals from a "hold" rating to a "buy" rating in a research report on Friday, June 12th. Finally, BMO Capital Markets reaffirmed a "market perform" rating on shares of Triple Flag Precious Metals in a research note on Friday, June 12th. Six equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $40.00.

Triple Flag Precious Metals Stock Down 5.0%

Shares of NYSE TFPM opened at $27.71 on Thursday. The stock has a market cap of $5.73 billion, a P/E ratio of 18.35, a P/E/G ratio of 3.08 and a beta of -0.19. The firm's 50-day simple moving average is $30.74 and its 200 day simple moving average is $34.02. Triple Flag Precious Metals has a fifty-two week low of $22.60 and a fifty-two week high of $41.70.

Triple Flag Precious Metals (NYSE:TFPM - Get Free Report) last announced its earnings results on Tuesday, May 5th. The company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.02. The business had revenue of $147.00 million during the quarter, compared to analysts' expectations of $147.00 million. Triple Flag Precious Metals had a return on equity of 12.90% and a net margin of 68.68%. On average, sell-side analysts anticipate that Triple Flag Precious Metals will post 1.53 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. bought a new stake in Triple Flag Precious Metals during the fourth quarter worth about $7,816,000. JPMorgan Chase & Co. raised its stake in shares of Triple Flag Precious Metals by 26.6% in the third quarter. JPMorgan Chase & Co. now owns 379,368 shares of the company's stock valued at $11,100,000 after acquiring an additional 79,655 shares during the last quarter. U S Global Investors Inc. raised its stake in shares of Triple Flag Precious Metals by 30.7% in the fourth quarter. U S Global Investors Inc. now owns 279,270 shares of the company's stock valued at $9,277,000 after acquiring an additional 65,605 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Triple Flag Precious Metals by 82.2% in the 4th quarter. Vanguard Group Inc. now owns 1,691,194 shares of the company's stock worth $56,198,000 after acquiring an additional 762,826 shares in the last quarter. Finally, Intact Investment Management Inc. boosted its holdings in shares of Triple Flag Precious Metals by 107.7% in the 4th quarter. Intact Investment Management Inc. now owns 108,000 shares of the company's stock worth $3,589,000 after acquiring an additional 56,000 shares in the last quarter. Institutional investors own 82.91% of the company's stock.

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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