Triple Flag Precious Metals (NYSE:TFPM) Hits New 12-Month High - What's Next?

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) reached a new 52-week high on Wednesday . The company traded as high as $27.17 and last traded at $26.71, with a volume of 368731 shares trading hands. The stock had previously closed at $26.89.

Wall Street Analysts Forecast Growth

TFPM has been the topic of a number of research reports. TD Securities restated a "buy" rating on shares of Triple Flag Precious Metals in a research report on Tuesday, June 24th. National Bank Financial upgraded Triple Flag Precious Metals to a "strong-buy" rating in a research report on Wednesday, April 23rd. Jefferies Financial Group raised their price target on Triple Flag Precious Metals from $24.00 to $26.00 and gave the company a "buy" rating in a research report on Tuesday, April 22nd. 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 research note on Friday, August 8th. Three investment 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 company. Based on data from MarketBeat, Triple Flag Precious Metals currently has a consensus rating of "Moderate Buy" and a consensus price target of $24.00.

Triple Flag Precious Metals Price Performance

The stock has a 50 day moving average price of $24.23 and a 200-day moving average price of $21.17. The stock has a market capitalization of $5.39 billion, a P/E ratio of 30.34, a PEG ratio of 1.16 and a beta of -0.20.

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 (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.03. Triple Flag Precious Metals had a return on equity of 8.81% and a net margin of 53.11%. The company had revenue of $94.09 million for the quarter, compared to analysts' expectations of $82.76 million. Research 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 firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, September 2nd will be issued a dividend of $0.0575 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $0.23 dividend on an annualized basis and a yield of 0.9%. This is a boost from Triple Flag Precious Metals's previous quarterly dividend of $0.06. Triple Flag Precious Metals's dividend payout ratio (DPR) is presently 26.74%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Barclays PLC boosted its position in Triple Flag Precious Metals by 65.4% during the 4th quarter. Barclays PLC now owns 235,658 shares of the company's stock valued at $3,544,000 after acquiring an additional 93,214 shares in the last quarter. Bank of America Corp DE raised its holdings in Triple Flag Precious Metals by 43.2% in the 4th quarter. Bank of America Corp DE now owns 381,554 shares of the company's stock worth $5,739,000 after acquiring an additional 115,103 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Triple Flag Precious Metals in the 4th quarter worth approximately $464,000. Public Employees Retirement System of Ohio purchased a new position in Triple Flag Precious Metals in the 4th quarter worth approximately $255,000. Finally, Renaissance Technologies LLC grew its position in Triple Flag Precious Metals by 9.0% in 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 period. 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.