Triple Flag Precious Metals (NYSE:TFPM) Shares Gap Up - Here's What Happened

Key Points

• Triple Flag Precious Metals shares gapped up, opening at $31.39 after a previous close of $30.02, indicating strong market activity with a trading volume of 105,798 shares.
• Multiple equities research analysts have downgrading their ratings on TFPM, resulting in an average rating of "Moderate Buy" and a target price of $24.00.
• The company announced a quarterly dividend increase to $0.0575, with a current annual yield of 0.7%, reflecting a growing financial commitment to shareholders.

Triple Flag Precious Metals Corp. (NYSE:TFPM - Get Free Report) gapped up before the market opened on Wednesday . The stock had previously closed at $30.02, but opened at $31.39. Triple Flag Precious Metals shares last traded at $30.91, with a volume of 105,798 shares trading hands.

Analysts Set New Price Targets

Several equities research analysts have recently commented on TFPM shares. BMO Capital Markets downgraded Triple Flag Precious Metals from an "outperform" rating to a "market perform" rating in a report on Wednesday, June 25th. Canaccord Genuity Group downgraded Triple Flag Precious Metals from a "strong-buy" rating to a "hold" rating in a report on Thursday, October 2nd. CIBC reissued an "outperform" rating on shares of Triple Flag Precious Metals in a research report on Tuesday, July 15th. TD Securities reissued a "buy" rating on shares of Triple Flag Precious Metals in a research report on Tuesday, June 24th. Finally, Wall Street Zen raised Triple Flag Precious Metals from a "hold" rating to a "buy" rating in a research report on Saturday, September 13th. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $24.00.

Triple Flag Precious Metals Trading Up 3.2%

The firm has a 50-day simple moving average of $27.18 and a two-hundred day simple moving average of $23.86. The company has a market capitalization of $6.40 billion, a price-to-earnings ratio of 36.02, a price-to-earnings-growth ratio of 1.30 and a beta of -0.18.

Triple Flag Precious Metals (NYSE:TFPM - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported $0.24 earnings per share 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 analyst estimates of $82.76 million. On average, sell-side analysts forecast that Triple Flag Precious Metals Corp. will post 0.71 earnings per share for the current year.

Triple Flag Precious Metals Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd were given a $0.0575 dividend. This represents a $0.23 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Tuesday, September 2nd. This is an increase from Triple Flag Precious Metals's previous quarterly dividend of $0.06. Triple Flag Precious Metals's payout ratio is currently 26.74%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of TFPM. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Triple Flag Precious Metals by 39.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 84,764 shares of the company's stock worth $1,275,000 after purchasing an additional 24,017 shares during the last quarter. Intact Investment Management Inc. boosted its stake in shares of Triple Flag Precious Metals by 307.7% during the 1st quarter. Intact Investment Management Inc. now owns 106,000 shares of the company's stock worth $2,028,000 after acquiring an additional 80,000 shares in the last quarter. Goehring & Rozencwajg Associates LLC boosted its stake in shares of Triple Flag Precious Metals by 2.2% during the 1st quarter. Goehring & Rozencwajg Associates LLC now owns 101,856 shares of the company's stock worth $1,957,000 after acquiring an additional 2,200 shares in the last quarter. Alps Advisors Inc. bought a new stake in shares of Triple Flag Precious Metals during the 1st quarter worth about $779,000. Finally, Genus Capital Management Inc. bought a new stake in shares of Triple Flag Precious Metals during the 1st quarter worth about $721,000. 82.91% of the stock is owned by institutional investors and hedge funds.

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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