Triple Flag Precious Metals (NYSE:TFPM) Reaches New 52-Week High - Should You Buy?

Shares of Triple Flag Precious Metals Corp. (NYSE:TFPM - Get Free Report) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $23.10 and last traded at $23.23, with a volume of 113083 shares traded. The stock had previously closed at $21.91.

Analysts Set New Price Targets

A number of brokerages have weighed in on TFPM. Scotiabank reiterated a "sector perform" rating on shares of Triple Flag Precious Metals in a research report on Monday, April 14th. Royal Bank of Canada boosted their price target on shares of Triple Flag Precious Metals from $19.00 to $23.00 and gave the company a "sector perform" rating in a research report on Wednesday. BMO Capital Markets reissued an "outperform" rating on shares of Triple Flag Precious Metals in a research report on Wednesday, April 23rd. 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 research report on Tuesday, April 22nd. Finally, National Bank Financial upgraded shares of Triple Flag Precious Metals to a "strong-buy" rating in a research report on Wednesday, April 23rd. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $24.00.

Triple Flag Precious Metals Trading Up 1.2%

The company has a 50 day simple moving average of $20.93 and a 200 day simple moving average of $18.15. The stock has a market capitalization of $4.97 billion, a PE ratio of -224.95, a P/E/G ratio of 0.78 and a beta of -0.24.

Triple Flag Precious Metals (NYSE:TFPM - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.19 by $0.01. The firm had revenue of $82.25 million during the quarter, compared to the consensus estimate of $72.14 million. Triple Flag Precious Metals had a positive return on equity of 6.63% and a negative net margin of 8.58%. On average, equities research analysts predict that Triple Flag Precious Metals Corp. will post 0.71 EPS for the current year.

Triple Flag Precious Metals Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 30th will be issued a $0.055 dividend. This represents a $0.22 annualized dividend and a dividend yield of 0.89%. The ex-dividend date of this dividend is Friday, May 30th. Triple Flag Precious Metals's payout ratio is 733.33%.

Institutional Trading of Triple Flag Precious Metals

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Tidal Investments LLC raised its stake 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 worth $25,829,000 after buying an additional 1,183,827 shares in the last quarter. Norges Bank purchased a new position in Triple Flag Precious Metals in the fourth quarter worth $15,696,000. Mackenzie Financial Corp raised its position in Triple Flag Precious Metals by 2,463.9% in the first quarter. Mackenzie Financial Corp now owns 835,240 shares of the company's stock worth $15,978,000 after acquiring an additional 802,663 shares in the last quarter. SCS Capital Management LLC purchased a new position in Triple Flag Precious Metals in the first quarter worth $15,179,000. Finally, Arrowstreet Capital Limited Partnership raised its position in Triple Flag Precious Metals by 377.2% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 908,888 shares of the company's stock worth $13,652,000 after acquiring an additional 718,408 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.