Triple Flag Precious Metals (NYSE:TFPM) Reaches New 1-Year High Following Strong Earnings

Key Points

• Triple Flag Precious Metals reached a new 52-week high of $26.97 after reporting quarterly earnings of $0.24 per share, surpassing analysts' estimates of $0.21.
• The company generated $94.09 million in revenue for the quarter, exceeding expectations of $82.76 million.
• Triple Flag Precious Metals holds a consensus rating of "Moderate Buy" among analysts, with an average price target of $24.00.

Triple Flag Precious Metals Corp. (NYSE:TFPM - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Thursday after the company announced better than expected quarterly earnings. The stock traded as high as $26.97 and last traded at $26.64, with a volume of 206816 shares trading hands. The stock had previously closed at $24.77.

The company reported $0.24 earnings per share for the quarter, beating analysts' consensus estimates of $0.21 by $0.03. The business had revenue of $94.09 million for the quarter, compared to analysts' expectations of $82.76 million. Triple Flag Precious Metals had a net margin of 1.71% and a return on equity of 7.69%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Royal Bank Of Canada lifted their target price on shares of 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. National Bank Financial raised shares of Triple Flag Precious Metals to a "strong-buy" rating in a research report on Wednesday, April 23rd. TD Securities restated a "buy" rating on shares of Triple Flag Precious Metals in a report on Tuesday, June 24th. Jefferies Financial Group boosted their price target on shares of Triple Flag Precious Metals from $24.00 to $26.00 and gave the stock a "buy" rating in a research note on Tuesday, April 22nd. Finally, Raymond James Financial reiterated an "outperform" rating on shares of Triple Flag Precious Metals in a research note on Thursday, July 10th. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $24.00.

Institutional Trading of Triple Flag Precious Metals

Hedge funds have recently added to or reduced their stakes in the business. Raymond James Financial Inc. purchased a new stake in shares of Triple Flag Precious Metals during the 4th quarter valued at about $464,000. Geode Capital Management LLC increased its holdings in Triple Flag Precious Metals by 15.4% during the 4th quarter. Geode Capital Management LLC now owns 74,739 shares of the company's stock worth $1,124,000 after purchasing an additional 9,995 shares during the last quarter. Bank of Montreal Can increased its holdings in Triple Flag Precious Metals by 35.1% during the 4th quarter. Bank of Montreal Can now owns 497,084 shares of the company's stock worth $7,460,000 after purchasing an additional 129,148 shares during the last quarter. Renaissance Technologies LLC increased its holdings in Triple Flag Precious Metals by 9.0% during the 4th quarter. Renaissance Technologies LLC now owns 98,900 shares of the company's stock worth $1,487,000 after purchasing an additional 8,200 shares during the last quarter. Finally, Townsquare Capital LLC increased its holdings in Triple Flag Precious Metals by 33.3% during the 4th quarter. Townsquare Capital LLC now owns 28,501 shares of the company's stock worth $429,000 after purchasing an additional 7,118 shares during the last quarter. 82.91% of the stock is owned by institutional investors and hedge funds.

Triple Flag Precious Metals Stock Performance

The company has a market capitalization of $5.52 billion, a PE ratio of 891.47, a P/E/G ratio of 1.11 and a beta of -0.20. The firm has a fifty day simple moving average of $23.81 and a 200-day simple moving average of $20.62.

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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