Triple Flag Precious Metals (NYSE:TFPM) Shares Down 5.3% - What's Next?

Triple Flag Precious Metals Corp. (NYSE:TFPM - Get Free Report) dropped 5.3% during mid-day trading on Tuesday . The company traded as low as $23.65 and last traded at $23.26. Approximately 46,171 shares changed hands during mid-day trading, a decline of 86% from the average daily volume of 339,722 shares. The stock had previously closed at $24.57.

Wall Street Analysts Forecast Growth

TFPM has been the topic of a number of research analyst reports. Royal Bank Of Canada boosted their target price on 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. BMO Capital Markets downgraded shares of Triple Flag Precious Metals from an "outperform" rating to a "market perform" rating in a research note on Wednesday, June 25th. Scotiabank restated a "sector perform" rating on shares of Triple Flag Precious Metals in a research note on Monday, April 14th. Raymond James Financial restated an "outperform" rating on shares of Triple Flag Precious Metals in a research note on Wednesday, May 7th. Finally, Jefferies Financial Group increased 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 note on Tuesday, April 22nd. Three investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $24.00.

Triple Flag Precious Metals Stock Down 6.3%

The stock has a market capitalization of $4.62 billion, a PE ratio of 767.00, a PEG ratio of 1.16 and a beta of -0.20. The firm's fifty day moving average is $22.73 and its 200-day moving average is $19.45.

Triple Flag Precious Metals (NYSE:TFPM - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.01. The firm had revenue of $82.25 million during the quarter, compared to analysts' expectations of $72.14 million. Triple Flag Precious Metals had a net margin of 1.71% and a return on equity of 7.69%. On average, analysts expect that Triple Flag Precious Metals Corp. will post 0.71 EPS for the current year.

Triple Flag Precious Metals Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 30th were issued a dividend of $0.055 per share. The ex-dividend date was Friday, May 30th. This represents a $0.22 annualized dividend and a yield of 0.96%. Triple Flag Precious Metals's dividend payout ratio is currently 733.33%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Barclays PLC increased its holdings in Triple Flag Precious Metals by 65.4% in the fourth quarter. Barclays PLC now owns 235,658 shares of the company's stock valued at $3,544,000 after buying an additional 93,214 shares in the last quarter. Bank of America Corp DE increased its holdings in Triple Flag Precious Metals by 43.2% in the fourth quarter. Bank of America Corp DE now owns 381,554 shares of the company's stock valued at $5,739,000 after buying an additional 115,103 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Triple Flag Precious Metals in the fourth quarter valued at about $464,000. Public Employees Retirement System of Ohio purchased a new position in Triple Flag Precious Metals in the fourth quarter valued at about $255,000. Finally, Renaissance Technologies LLC grew its position in shares of Triple Flag Precious Metals by 9.0% in the fourth quarter. Renaissance Technologies LLC now owns 98,900 shares of the company's stock valued at $1,487,000 after purchasing an additional 8,200 shares during the last quarter. 82.91% of the stock is owned by hedge funds and other institutional investors.

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.