Royal Bank of Canada Forecasts Strong Price Appreciation for Triple Flag Precious Metals (NYSE:TFPM) Stock

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 research note released on Wednesday morning,BayStreet.CA reports. Royal Bank of Canada currently has a sector perform rating on the stock.

A number of other brokerages also recently weighed in on TFPM. Raymond James reissued an "outperform" rating on shares of Triple Flag Precious Metals in a research note on Wednesday, May 7th. Jefferies Financial Group raised 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. National Bank Financial raised Triple Flag Precious Metals to a "strong-buy" rating in a report on Wednesday, April 23rd. BMO Capital Markets reaffirmed an "outperform" rating on shares of Triple Flag Precious Metals in a report on Wednesday, April 23rd. Finally, Scotiabank reaffirmed a "sector perform" rating on shares of Triple Flag Precious Metals in a report on Monday, April 14th. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Triple Flag Precious Metals presently has an average rating of "Moderate Buy" and a consensus target price of $24.00.

Triple Flag Precious Metals Stock Up 1.2%

Shares of TFPM traded up $0.30 during midday trading on Wednesday, reaching $24.74. 491,593 shares of the stock were exchanged, compared to its average volume of 324,361. Triple Flag Precious Metals has a 12-month low of $13.94 and a 12-month high of $25.33. The firm has a 50 day simple moving average of $21.04 and a 200-day simple moving average of $18.20. The company has a market cap of $4.97 billion, a price-to-earnings 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 issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.20 earnings per share for the quarter, beating analysts' consensus estimates of $0.19 by $0.01. Triple Flag Precious Metals had a positive return on equity of 6.63% and a negative net margin of 8.58%. The business had revenue of $82.25 million for the quarter, compared to the consensus estimate of $72.14 million. Research analysts expect that Triple Flag Precious Metals will post 0.71 earnings per share for the current fiscal year.

Triple Flag Precious Metals Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 30th will be issued a dividend of $0.055 per share. 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 presently 733.33%.

Institutional Trading of Triple Flag Precious Metals

Several institutional investors have recently modified their holdings of the company. Russell Investments Group Ltd. grew its holdings in shares of Triple Flag Precious Metals by 2.5% during the 1st quarter. Russell Investments Group Ltd. now owns 28,561 shares of the company's stock worth $546,000 after purchasing an additional 703 shares in the last quarter. Principal Street Partners LLC grew its holdings in shares of Triple Flag Precious Metals by 4.2% during the 4th quarter. Principal Street Partners LLC now owns 24,755 shares of the company's stock worth $372,000 after purchasing an additional 1,001 shares in the last quarter. Mackenzie Financial Corp grew its holdings in shares of Triple Flag Precious Metals by 3.5% during the 4th quarter. Mackenzie Financial Corp now owns 32,577 shares of the company's stock worth $489,000 after purchasing an additional 1,101 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in shares of Triple Flag Precious Metals by 175.6% during the 4th quarter. Farther Finance Advisors LLC now owns 1,896 shares of the company's stock worth $29,000 after purchasing an additional 1,208 shares in the last quarter. Finally, XTX Topco Ltd grew its holdings in shares of Triple Flag Precious Metals by 9.1% during the 4th quarter. XTX Topco Ltd now owns 14,852 shares of the company's stock worth $223,000 after purchasing an additional 1,238 shares in the last quarter. Institutional investors and hedge funds 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.