Triple Flag Precious Metals (NYSE:TFPM) Stock Rating Upgraded by Zacks Research

Key Points

• Triple Flag Precious Metals received an upgrade from Zacks Research, moving from a "hold" to a "strong-buy" rating, reflecting increased confidence in the stock's performance.
• Royal Bank of Canada raised its price target for the stock from $19 to $23, while other analysts have issued a mix of ratings, resulting in a consensus rating of "Moderate Buy" with an average target price of $24.
• The company's recent earnings report showed a net margin of 53.11% and revenue of $94.09 million, exceeding analysts' estimates and indicating strong financial performance.

Triple Flag Precious Metals (NYSE:TFPM - Get Free Report) was upgraded by research analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a report released on Thursday,Zacks.com reports.

A number of other brokerages have also commented on TFPM. Royal Bank Of Canada boosted their price objective on shares of Triple Flag Precious Metals from $19.00 to $23.00 and gave the stock a "sector perform" rating in a report on Wednesday, June 4th. Raymond James Financial reiterated an "outperform" rating on shares of Triple Flag Precious Metals in a report on Friday, August 8th. Wall Street Zen upgraded shares of Triple Flag Precious Metals from a "hold" rating to a "buy" rating in a research note on Saturday, September 13th. BMO Capital Markets lowered shares of Triple Flag Precious Metals from an "outperform" rating to a "market perform" rating in a research note on Wednesday, June 25th. Finally, CIBC restated 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 issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $24.00.

Triple Flag Precious Metals Price Performance

Shares of TFPM stock opened at $28.57 on Thursday. Triple Flag Precious Metals has a 12 month low of $14.51 and a 12 month high of $29.30. The firm has a market capitalization of $5.90 billion, a P/E ratio of 33.22, a P/E/G ratio of 1.20 and a beta of -0.19. The company's fifty day moving average price is $26.33 and its two-hundred day moving average price is $23.31.

Triple Flag Precious Metals (NYSE:TFPM - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.24 EPS for the quarter, topping analysts' consensus estimates of $0.21 by $0.03. Triple Flag Precious Metals had a net margin of 53.11% and a return on equity of 8.81%. The firm had revenue of $94.09 million for the quarter, compared to analyst estimates of $82.76 million. On average, sell-side analysts anticipate that Triple Flag Precious Metals will post 0.71 EPS for the current year.

Institutional Investors Weigh In On Triple Flag Precious Metals

A number of institutional investors have recently modified their holdings of the business. Arrowstreet Capital Limited Partnership grew its position in shares of Triple Flag Precious Metals by 67.4% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 2,097,794 shares of the company's stock valued at $49,731,000 after buying an additional 844,765 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Triple Flag Precious Metals by 14.5% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,888,643 shares of the company's stock worth $44,694,000 after purchasing an additional 239,670 shares during the last quarter. Norges Bank bought a new position in Triple Flag Precious Metals in the 2nd quarter worth about $24,816,000. Mackenzie Financial Corp grew its position in Triple Flag Precious Metals by 15.5% in the 2nd quarter. Mackenzie Financial Corp now owns 964,756 shares of the company's stock worth $22,891,000 after purchasing an additional 129,516 shares during the last quarter. Finally, SCS Capital Management LLC bought a new position in Triple Flag Precious Metals in the 1st quarter worth about $15,179,000. Institutional investors 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.

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