Triple Flag Precious Metals (NYSE:TFPM) Reaches New 1-Year High - Time to Buy?

Key Points

• Triple Flag Precious Metals shares reached a new 52-week high, trading at $29.25, reflecting strong interest with a volume of 501,320 shares.
• Analysts have mixed views on the stock, with a consensus rating of "Moderate Buy" and a price target of $24.00, while recent earnings beat expectations with an EPS of $0.24.
• The company will increase its quarterly dividend to $0.0575 per share, an annualized yield of 0.8%, with the ex-dividend date set for September 2nd.

Triple Flag Precious Metals Corp. (NYSE:TFPM - Get Free Report) shares hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $29.25 and last traded at $28.23, with a volume of 501320 shares. The stock had previously closed at $28.58.

Wall Street Analyst Weigh In

A number of research firms have recently commented on TFPM. Royal Bank Of Canada increased their target price on Triple Flag Precious Metals from $19.00 to $23.00 and gave the company a "sector perform" rating in a research report on Wednesday, June 4th. TD Securities reiterated a "buy" rating on shares of Triple Flag Precious Metals in a research report on Tuesday, June 24th. Wall Street Zen cut shares of Triple Flag Precious Metals from a "buy" rating to a "hold" rating in a research note on Friday, September 5th. CIBC restated an "outperform" rating on shares of Triple Flag Precious Metals in a research report on Tuesday, July 15th. Finally, Raymond James Financial reaffirmed an "outperform" rating on shares of Triple Flag Precious Metals in a report on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Triple Flag Precious Metals has a consensus rating of "Moderate Buy" and a consensus price target of $24.00.

Triple Flag Precious Metals Stock Down 1.2%

The stock's 50 day moving average price is $25.20 and its 200-day moving average price is $22.39. The stock has a market capitalization of $5.83 billion, a PE ratio of 32.82, a price-to-earnings-growth ratio of 1.26 and a beta of -0.19.

Triple Flag Precious Metals (NYSE:TFPM - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.03. The company had revenue of $94.09 million during the quarter, compared to analysts' expectations of $82.76 million. Triple Flag Precious Metals had a net margin of 53.11% and a return on equity of 8.81%. As a group, sell-side analysts predict that Triple Flag Precious Metals Corp. will post 0.71 earnings per share for the current fiscal year.

Triple Flag Precious Metals Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be issued a dividend of $0.0575 per share. This represents a $0.23 annualized dividend and a yield of 0.8%. The ex-dividend date is Tuesday, September 2nd. This is an increase from Triple Flag Precious Metals's previous quarterly dividend of $0.06. Triple Flag Precious Metals's dividend payout ratio (DPR) is 26.74%.

Hedge Funds Weigh In On Triple Flag Precious Metals

Several institutional investors have recently made changes to their positions in TFPM. BNP Paribas Financial Markets purchased a new stake in Triple Flag Precious Metals in the fourth quarter worth about $358,000. Bank of America Corp DE boosted its stake in shares of Triple Flag Precious Metals by 43.2% during the fourth quarter. Bank of America Corp DE now owns 381,554 shares of the company's stock valued at $5,739,000 after purchasing an additional 115,103 shares in the last quarter. Cubist Systematic Strategies LLC boosted its stake in shares of Triple Flag Precious Metals by 270.4% during the fourth quarter. Cubist Systematic Strategies LLC now owns 37,298 shares of the company's stock valued at $560,000 after purchasing an additional 27,227 shares in the last quarter. Deutsche Bank AG increased its holdings in Triple Flag Precious Metals by 3.5% during the fourth quarter. Deutsche Bank AG now owns 131,371 shares of the company's stock valued at $1,976,000 after buying an additional 4,496 shares during the period. Finally, Millennium Management LLC raised its stake in Triple Flag Precious Metals by 104.6% in the fourth quarter. Millennium Management LLC now owns 442,678 shares of the company's stock worth $6,650,000 after buying an additional 226,330 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.