Triple Flag Precious Metals (NYSE:TFPM) Stock Price Down 4.7% - Time to Sell?

Key Points

• Triple Flag Precious Metals (NYSE:TFPM) shares fell by 4.7% on Thursday, trading at $28.61 after hitting a low of $29.09, with significant decline in trading volume.
• Analysts have generally maintained a positive outlook on the company, with ratings ranging from "hold" to "strong buy" and an average target price of $24.00.
• The company recently increased its quarterly dividend to $0.0575, reflecting a positive change from the previous dividend of $0.06.

Triple Flag Precious Metals Corp. (NYSE:TFPM - Get Free Report) dropped 4.7% on Thursday . The company traded as low as $29.09 and last traded at $28.61. Approximately 158,103 shares changed hands during mid-day trading, a decline of 65% from the average daily volume of 455,844 shares. The stock had previously closed at $30.01.

Wall Street Analysts Forecast Growth

TFPM has been the subject of a number of analyst reports. Royal Bank Of Canada lifted 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, June 4th. Wall Street Zen raised shares of Triple Flag Precious Metals from a "hold" rating to a "buy" rating in a research note on Saturday, September 13th. Zacks Research raised shares of Triple Flag Precious Metals from a "hold" rating to a "strong-buy" rating in a research note on Thursday, September 25th. Raymond James Financial reissued an "outperform" rating on shares of Triple Flag Precious Metals in a research note on Friday, August 8th. Finally, CIBC reissued an "outperform" rating on shares of Triple Flag Precious Metals in a research note on Tuesday, July 15th. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $24.00.

Triple Flag Precious Metals Stock Down 3.6%

The company has a market cap of $5.97 billion, a P/E ratio of 33.49, a PEG ratio of 1.25 and a beta of -0.18. The firm's 50 day moving average is $26.67 and its two-hundred day moving average is $23.53.

Triple Flag Precious Metals (NYSE:TFPM - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.03. The business had revenue of $94.09 million for the quarter, compared to analyst estimates of $82.76 million. Triple Flag Precious Metals had a net margin of 53.11% and a return on equity of 8.81%. As a group, research analysts forecast that Triple Flag Precious Metals Corp. will post 0.71 EPS for the current fiscal year.

Triple Flag Precious Metals Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Tuesday, September 2nd were issued a $0.0575 dividend. The ex-dividend date was Tuesday, September 2nd. This is a positive change from Triple Flag Precious Metals's previous quarterly dividend of $0.06. This represents a $0.23 annualized dividend and a yield of 0.8%. Triple Flag Precious Metals's dividend payout ratio (DPR) is presently 26.74%.

Hedge Funds Weigh In On Triple Flag Precious Metals

Several institutional investors have recently made changes to their positions in the stock. Osaic Holdings Inc. raised its holdings in shares of Triple Flag Precious Metals by 4,954.7% during the second quarter. Osaic Holdings Inc. now owns 5,914 shares of the company's stock valued at $140,000 after purchasing an additional 5,797 shares during the period. Orion Porfolio Solutions LLC raised its holdings in shares of Triple Flag Precious Metals by 215.1% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 81,856 shares of the company's stock worth $1,939,000 after acquiring an additional 55,878 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Triple Flag Precious Metals by 160.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,015 shares of the company's stock worth $119,000 after acquiring an additional 3,086 shares during the last quarter. Man Group plc acquired a new stake in shares of Triple Flag Precious Metals in the 2nd quarter worth about $408,000. Finally, Engineers Gate Manager LP raised its holdings in shares of Triple Flag Precious Metals by 20.5% in the 2nd quarter. Engineers Gate Manager LP now owns 12,090 shares of the company's stock worth $286,000 after acquiring an additional 2,055 shares during the last quarter. Institutional investors and hedge funds own 82.91% of the company's stock.

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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