Triple Flag Precious Metals (NYSE:TFPM) Releases Quarterly Earnings Results, Beats Estimates By $0.06 EPS

Key Points

• Triple Flag Precious Metals beat quarterly earnings expectations: The company reported EPS of $0.39, $0.06 above the $0.33 consensus estimate, with a 68.68% net margin and 12.90% return on equity.
• Shares rose during Wednesday trading to $31.37, while institutional investors held 82.91% of the stock. TFPM’s market capitalization was approximately $6.46 billion.
• Analyst sentiment remains moderately bullish: Six analysts rate the stock Buy, two rate it Hold and one rates it Sell, producing a consensus “Moderate Buy” rating and an average price target of $38.67.

Triple Flag Precious Metals (NYSE:TFPM - Get Free Report) released its earnings results on Wednesday. The company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.06, Zacks reports. Triple Flag Precious Metals had a net margin of 68.68% and a return on equity of 12.90%.

Triple Flag Precious Metals Price Performance

TFPM stock traded up $1.47 during midday trading on Wednesday, reaching $31.37. 870,234 shares of the company's stock traded hands, compared to its average volume of 434,075. Triple Flag Precious Metals has a fifty-two week low of $24.39 and a fifty-two week high of $41.70. The business has a 50-day moving average price of $29.24 and a two-hundred day moving average price of $33.16. The company has a market capitalization of $6.46 billion, a P/E ratio of 20.78, a PEG ratio of 2.64 and a beta of -0.18.

Hedge Funds Weigh In On Triple Flag Precious Metals

A number of hedge funds have recently made changes to their positions in the business. Quarry LP purchased a new stake in Triple Flag Precious Metals during the 3rd quarter worth $33,000. Tower Research Capital LLC TRC boosted its position in shares of Triple Flag Precious Metals by 160.0% in the second quarter. Tower Research Capital LLC TRC now owns 5,015 shares of the company's stock worth $119,000 after buying an additional 3,086 shares during the period. Caitlin John LLC boosted its position in shares of Triple Flag Precious Metals by 11.2% in the fourth quarter. Caitlin John LLC now owns 3,730 shares of the company's stock worth $124,000 after buying an additional 375 shares during the period. Northwest & Ethical Investments L.P. grew its stake in shares of Triple Flag Precious Metals by 54.8% in the fourth quarter. Northwest & Ethical Investments L.P. now owns 4,009 shares of the company's stock valued at $133,000 after buying an additional 1,420 shares in the last quarter. Finally, Osaic Holdings Inc. grew its stake in shares of Triple Flag Precious Metals by 4,954.7% in the second quarter. Osaic Holdings Inc. now owns 5,914 shares of the company's stock valued at $140,000 after buying an additional 5,797 shares in the last quarter. Hedge funds and other institutional investors own 82.91% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on TFPM shares. Weiss Ratings lowered shares of Triple Flag Precious Metals from a "buy (b)" rating to a "buy (b-)" rating in a report on Friday, June 12th. Canaccord Genuity Group upgraded Triple Flag Precious Metals from a "hold" rating to a "buy" rating in a report on Friday, June 12th. Bank of America dropped their price objective on Triple Flag Precious Metals from $39.00 to $37.00 and set a "buy" rating for the company in a report on Thursday, July 9th. Jefferies Financial Group cut their target price on Triple Flag Precious Metals from $43.00 to $40.00 and set a "buy" rating on the stock in a research report on Monday, July 6th. Finally, Scotiabank reduced their target price on Triple Flag Precious Metals from $43.00 to $39.00 and set a "sector perform" rating on the stock in a report on Tuesday, July 14th. Six analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $38.67.

Triple Flag Precious Metals Company Profile

Triple Flag Precious Metals Corp. is a Toronto-based precious metals streaming and royalty company traded on the New York Stock Exchange under the ticker TFPM. The company specializes in providing upfront financing to mining operators in exchange for the right to purchase a fixed percentage of future gold and silver production at discounted prices. By structuring these streaming and royalty agreements, Triple Flag Precious Metals aims to optimize its capital deployment and maintain a predictable cost profile while benefitting from upside in precious metal prices.

Since its formation in mid-2022, Triple Flag Precious Metals has established a diversified portfolio of streaming and royalty assets across a variety of jurisdictions.

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