Triple Flag Precious Metals (NYSE:TFPM) Given New $23.00 Price Target at Royal Bank of Canada

Triple Flag Precious Metals (NYSE:TFPM - Free Report) had its price target upped by Royal Bank of Canada from $19.00 to $23.00 in a report released on Wednesday,BayStreet.CA reports. The firm currently has a sector perform rating on the stock.

A number of other research firms have also commented on TFPM. Raymond James restated an "outperform" rating on shares of Triple Flag Precious Metals in a research note on Wednesday, May 7th. BMO Capital Markets restated an "outperform" rating on shares of Triple Flag Precious Metals in a research report on Wednesday, April 23rd. Scotiabank reaffirmed a "sector perform" rating on shares of Triple Flag Precious Metals in a research report on Monday, April 14th. Jefferies Financial Group boosted their target price on Triple Flag Precious Metals from $24.00 to $26.00 and gave the company a "buy" rating in a report on Tuesday, April 22nd. Finally, National Bank Financial raised Triple Flag Precious Metals to a "strong-buy" rating in a report on Wednesday, April 23rd. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Triple Flag Precious Metals has an average rating of "Moderate Buy" and a consensus price target of $24.00.

Triple Flag Precious Metals Trading Down 3.1%

Shares of Triple Flag Precious Metals stock traded down $0.78 on Wednesday, hitting $23.96. The stock had a trading volume of 445,871 shares, compared to its average volume of 324,107. The stock has a market cap of $4.81 billion, a price-to-earnings ratio of -217.77, a P/E/G ratio of 0.78 and a beta of -0.24. Triple Flag Precious Metals has a 52-week low of $13.94 and a 52-week high of $25.36. The company's 50 day moving average price is $21.14 and its 200 day moving average price is $18.27.

Triple Flag Precious Metals (NYSE:TFPM - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.01. The business 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%. Analysts predict that Triple Flag Precious Metals will post 0.71 EPS for the current fiscal year.

Triple Flag Precious Metals Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be issued a dividend of $0.055 per share. This represents a $0.22 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date of this dividend is Friday, May 30th. Triple Flag Precious Metals's dividend payout ratio is currently 733.33%.

Institutional Investors Weigh In On Triple Flag Precious Metals

Institutional investors have recently modified their holdings of the company. SCS Capital Management LLC purchased a new position in Triple Flag Precious Metals in the 1st quarter valued at approximately $15,179,000. Ascent Group LLC acquired a new stake in Triple Flag Precious Metals in the first quarter valued at $327,000. Goldman Sachs Group Inc. increased its position in shares of Triple Flag Precious Metals by 69.8% in the first quarter. Goldman Sachs Group Inc. now owns 305,826 shares of the company's stock valued at $5,857,000 after buying an additional 125,746 shares in the last quarter. Mountain Lake Investment Management LLC acquired a new position in shares of Triple Flag Precious Metals during the 1st quarter worth $932,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Triple Flag Precious Metals by 11.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,648,973 shares of the company's stock worth $31,542,000 after buying an additional 173,881 shares in the last quarter. Hedge funds and other institutional investors 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.