Triple Flag Precious Metals (NYSE:TFPM) Reaches New 12-Month High - Here's Why

Key Points

• Triple Flag Precious Metals shares reached a new 12-month high of $27.17, with a recent trading price of $26.71 amidst significant trading volumes.
• Brokerages have shown positive sentiment, with Jefferies raising its price target from $24.00 to $26.00 and multiple analysts rating the stock as a "Moderate Buy."
• The company announced a quarterly dividend increase to $0.0575 per share, with a dividend yield of 0.9% reflecting a strong financial position.

Triple Flag Precious Metals Corp. (NYSE:TFPM - Get Free Report) shares hit a new 52-week high on Wednesday . The stock traded as high as $27.17 and last traded at $26.71, with a volume of 368731 shares traded. The stock had previously closed at $26.89.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on TFPM. 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 report on Tuesday, April 22nd. Raymond James Financial restated an "outperform" rating on shares of Triple Flag Precious Metals in a research report on Friday. Royal Bank Of Canada boosted their price target on shares of Triple Flag Precious Metals from $19.00 to $23.00 and gave the stock a "sector perform" rating in a research report on Wednesday, June 4th. BMO Capital Markets cut shares of Triple Flag Precious Metals from an "outperform" rating to a "market perform" rating in a research report on Wednesday, June 25th. Finally, CIBC restated an "outperform" rating on shares of Triple Flag Precious Metals in a research report on Tuesday, July 15th. Three analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Triple Flag Precious Metals currently has an average rating of "Moderate Buy" and an average target price of $24.00.

Triple Flag Precious Metals Price Performance

The firm has a market cap of $5.52 billion, a P/E ratio of 31.06, a PEG ratio of 1.21 and a beta of -0.20. The stock's 50-day simple moving average is $24.13 and its two-hundred day simple moving average is $20.95.

Triple Flag Precious Metals (NYSE:TFPM - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.24 earnings per share for the quarter, beating analysts' consensus estimates 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 business had revenue of $94.09 million for the quarter, compared to analysts' expectations of $82.76 million. As a group, sell-side analysts expect that Triple Flag Precious Metals Corp. will post 0.71 earnings per share for the current year.

Triple Flag Precious Metals Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be paid a dividend of $0.0575 per share. This is an increase from Triple Flag Precious Metals's previous quarterly dividend of $0.06. This represents a $0.23 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Tuesday, September 2nd. Triple Flag Precious Metals's payout ratio is presently 25.58%.

Institutional Trading of Triple Flag Precious Metals

Large investors have recently made changes to their positions in the stock. SVB Wealth LLC purchased a new stake in shares of Triple Flag Precious Metals during the first quarter valued at $34,000. ORG Wealth Partners LLC purchased a new stake in shares of Triple Flag Precious Metals during the second quarter valued at $97,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Triple Flag Precious Metals during the fourth quarter valued at $134,000. Quantbot Technologies LP boosted its stake in shares of Triple Flag Precious Metals by 1,258.9% during the first 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 during the period. Finally, Drucker Wealth 3.0 LLC purchased a new stake in shares of Triple Flag Precious Metals during the second quarter valued at $206,000. 82.91% of the stock is owned by hedge funds and other institutional investors.

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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