Triple Flag Precious Metals Corp. (NYSE:TFPM - Get Free Report)'s share price reached a new 52-week high on Thursday following a stronger than expected earnings report. 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 EPS for the quarter, topping 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 company had revenue of $94.09 million during the quarter, compared to analyst estimates of $82.76 million.
Triple Flag Precious Metals Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be issued a $0.0575 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This is a boost from Triple Flag Precious Metals's previous quarterly dividend of $0.06. This represents a $0.23 dividend on an annualized basis and a yield of 0.9%. Triple Flag Precious Metals's dividend payout ratio is presently 26.74%.
Wall Street Analysts Forecast Growth
Several brokerages have recently weighed in on TFPM. National Bank Financial raised Triple Flag Precious Metals to a "strong-buy" rating in a research note on Wednesday, April 23rd. Scotiabank reaffirmed a "sector perform" rating on shares of Triple Flag Precious Metals in a research note on Monday, April 14th. TD Securities reaffirmed a "buy" rating on shares of Triple Flag Precious Metals in a research note on Tuesday, June 24th. Jefferies Financial Group upped their target price on 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 reaffirmed an "outperform" rating on shares of Triple Flag Precious Metals in a research note on Friday. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $24.00.
Read Our Latest Analysis on Triple Flag Precious Metals
Institutional Trading of Triple Flag Precious Metals
Several large investors have recently added to or reduced their stakes in the stock. SVB Wealth LLC acquired a new stake in Triple Flag Precious Metals in the 1st quarter valued at about $34,000. ORG Wealth Partners LLC acquired a new stake in Triple Flag Precious Metals in the 2nd quarter valued at about $97,000. Drucker Wealth 3.0 LLC acquired a new stake in Triple Flag Precious Metals in the 2nd quarter valued at about $206,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Triple Flag Precious Metals in the 4th quarter valued at about $134,000. Finally, Quantbot Technologies LP raised its position in Triple Flag Precious Metals by 1,258.9% in the 1st quarter. Quantbot Technologies LP now owns 9,390 shares of the company's stock valued at $180,000 after purchasing an additional 8,699 shares in the last quarter. 82.91% of the stock is currently owned by hedge funds and other institutional investors.
Triple Flag Precious Metals Stock Performance
The company has a market cap of $5.54 billion, a price-to-earnings ratio of 31.31, a price-to-earnings-growth ratio of 1.20 and a beta of -0.20. The business has a 50-day simple moving average of $24.00 and a 200-day simple moving average of $20.84.
Triple Flag Precious Metals Company Profile
(
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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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