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

Key Points

• Bank of America has raised the price target for Triple Flag Precious Metals from $33.00 to $37.00, indicating a potential upside of 14.43% from its current price.
• Analysts maintain a predominantly positive outlook on the stock, with two analysts giving a Strong Buy rating, six a Buy rating, and four a Hold rating.
• Triple Flag Precious Metals reported earnings of $0.24 per share, surpassing analyst expectations, and generated $94.09 million in revenue for the quarter.

Triple Flag Precious Metals (NYSE:TFPM - Get Free Report) had its price objective boosted by analysts at Bank of America from $33.00 to $37.00 in a report released on Thursday,Benzinga reports. The firm presently has a "buy" rating on the stock. Bank of America's price objective indicates a potential upside of 14.43% from the stock's current price.

Other equities analysts also recently issued reports about the stock. Weiss Ratings restated a "buy (b)" rating on shares of Triple Flag Precious Metals in a report on Wednesday, October 8th. CIBC restated an "outperform" rating on shares of Triple Flag Precious Metals in a report on Tuesday, July 15th. BMO Capital Markets downgraded shares of Triple Flag Precious Metals from an "outperform" rating to a "market perform" rating in a report on Wednesday, June 25th. TD Securities reaffirmed a "buy" rating on shares of Triple Flag Precious Metals in a research note on Tuesday, June 24th. Finally, Canaccord Genuity Group cut shares of Triple Flag Precious Metals from a "strong-buy" rating to a "hold" rating in a research note on Thursday, October 2nd. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, Triple Flag Precious Metals has an average rating of "Moderate Buy" and an average price target of $27.25.

Triple Flag Precious Metals Stock Up 2.6%

Shares of TFPM opened at $32.33 on Thursday. The company has a 50-day simple moving average of $28.04 and a 200-day simple moving average of $24.30. The company has a market capitalization of $6.68 billion, a PE ratio of 37.60, a P/E/G ratio of 1.34 and a beta of -0.18. Triple Flag Precious Metals has a 52-week low of $14.51 and a 52-week high of $32.64.

Triple Flag Precious Metals (NYSE:TFPM - Get Free Report) last posted its earnings results 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 during the quarter, compared to the consensus estimate of $82.76 million. On average, research analysts anticipate that Triple Flag Precious Metals will post 0.71 EPS for the current year.

Institutional Trading of Triple Flag Precious Metals

A number of hedge funds and other institutional investors have recently made changes to their positions in TFPM. Norges Bank bought a new stake in shares of Triple Flag Precious Metals in the second quarter worth $24,816,000. Arrowstreet Capital Limited Partnership boosted its holdings in Triple Flag Precious Metals by 67.4% in the second quarter. Arrowstreet Capital Limited Partnership now owns 2,097,794 shares of the company's stock worth $49,731,000 after purchasing an additional 844,765 shares during the period. Mackenzie Financial Corp boosted its holdings in Triple Flag Precious Metals by 2,463.9% in the first quarter. Mackenzie Financial Corp now owns 835,240 shares of the company's stock worth $15,978,000 after purchasing an additional 802,663 shares during the period. SCS Capital Management LLC acquired a new position in Triple Flag Precious Metals in the first quarter worth $15,179,000. Finally, Euro Pacific Asset Management LLC acquired a new position in Triple Flag Precious Metals in the third quarter worth $15,322,000. Institutional investors own 82.91% of the company's stock.

Triple Flag Precious Metals Company Profile

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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