Triple Flag Precious Metals (NYSE:TFPM) Sets New 12-Month High - Here's What Happened

Shares of Triple Flag Precious Metals Corp. (NYSE:TFPM - Get Free Report) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $25.45 and last traded at $25.17, with a volume of 170343 shares traded. The stock had previously closed at $24.49.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Raymond James restated an "outperform" rating on shares of Triple Flag Precious Metals in a report on Wednesday, May 7th. BMO Capital Markets restated an "outperform" rating on shares of Triple Flag Precious Metals in a report on Wednesday, April 23rd. Royal Bank of Canada raised 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 report on Wednesday, June 4th. National Bank Financial upgraded shares of Triple Flag Precious Metals to a "strong-buy" rating in a report on Wednesday, April 23rd. Finally, Jefferies Financial Group raised their target price on shares of Triple Flag Precious Metals from $24.00 to $26.00 and gave the stock a "buy" rating in a report on Tuesday, April 22nd. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Triple Flag Precious Metals presently has a consensus rating of "Moderate Buy" and a consensus price target of $24.00.

Triple Flag Precious Metals Price Performance

The firm has a market capitalization of $4.93 billion, a P/E ratio of -223.03, a P/E/G ratio of 0.78 and a beta of -0.24. The company's 50-day simple moving average is $21.81 and its two-hundred day simple moving average is $18.60.

Triple Flag Precious Metals (NYSE:TFPM - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.01. Triple Flag Precious Metals had a negative net margin of 8.58% and a positive return on equity of 6.63%. The business had revenue of $82.25 million for the quarter, compared to the consensus estimate of $72.14 million. Analysts predict that Triple Flag Precious Metals Corp. will post 0.71 earnings per share for the current year.

Triple Flag Precious Metals Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be given a $0.055 dividend. The ex-dividend date is Friday, May 30th. This represents a $0.22 annualized dividend and a yield of 0.90%. Triple Flag Precious Metals's payout ratio is presently 733.33%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Tidal Investments LLC raised its position in shares of Triple Flag Precious Metals by 221.9% during the 4th quarter. Tidal Investments LLC now owns 1,717,347 shares of the company's stock valued at $25,829,000 after purchasing an additional 1,183,827 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Triple Flag Precious Metals by 11.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,648,973 shares of the company's stock valued at $31,542,000 after purchasing an additional 173,881 shares during the period. Norges Bank bought a new stake in shares of Triple Flag Precious Metals during the 4th quarter valued at $15,696,000. Arrowstreet Capital Limited Partnership raised its position in shares of Triple Flag Precious Metals by 377.2% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 908,888 shares of the company's stock valued at $13,652,000 after purchasing an additional 718,408 shares during the period. Finally, Mackenzie Financial Corp raised its position in shares of Triple Flag Precious Metals by 2,463.9% during the 1st quarter. Mackenzie Financial Corp now owns 835,240 shares of the company's stock valued at $15,978,000 after purchasing an additional 802,663 shares during the period. 82.91% of the stock is currently owned by 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.