Triple Flag Precious Metals (NYSE:TFPM) Upgraded at Zacks Research

Key Points

• Zacks Research upgraded Triple Flag Precious Metals (NYSE:TFPM) from a "hold" to a "strong-buy" in a research note issued Wednesday.
• Analyst coverage is mixed—2 Strong Buy, 6 Buy and 4 Hold—giving an average rating of "Moderate Buy" and an average price target of $32.25, though some firms (e.g., Scotiabank) have higher targets (up to $43).
• TFPM beat quarterly expectations with $0.33 EPS (vs. $0.32 expected) and $118.9M revenue, trades around $37.44 with a $7.73B market cap and a high institutional ownership of about 82.9%.

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

A number of other brokerages also recently issued reports on TFPM. BMO Capital Markets restated a "market perform" rating on shares of Triple Flag Precious Metals in a research report on Thursday, January 15th. Canadian Imperial Bank of Commerce reiterated an "outperform" rating on shares of Triple Flag Precious Metals in a research report on Wednesday, February 4th. Scotiabank lifted their target price on shares of Triple Flag Precious Metals from $34.00 to $43.00 and gave the stock a "sector perform" rating in a research note on Monday, January 26th. Weiss Ratings restated a "buy (b)" rating on shares of Triple Flag Precious Metals in a report on Wednesday, January 21st. Finally, Wall Street Zen raised shares of Triple Flag Precious Metals from a "hold" rating to a "buy" rating in a research report on Saturday, February 21st. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $32.25.

Triple Flag Precious Metals Price Performance

Shares of TFPM opened at $37.44 on Wednesday. The business has a 50-day moving average of $36.97 and a 200-day moving average of $32.68. The company has a market capitalization of $7.73 billion, a price-to-earnings ratio of 31.73, a price-to-earnings-growth ratio of 1.97 and a beta of -0.28. Triple Flag Precious Metals has a 1 year low of $17.72 and a 1 year high of $41.70.

Triple Flag Precious Metals (NYSE:TFPM - Get Free Report) last announced its earnings results on Wednesday, February 18th. The company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.32 by $0.01. The business had revenue of $118.92 million for the quarter, compared to analysts' expectations of $114.92 million. Triple Flag Precious Metals had a return on equity of 10.82% and a net margin of 61.74%. As a group, 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 large investors have recently bought and sold shares of TFPM. Goldman Sachs Group Inc. increased its stake in 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 purchasing an additional 125,746 shares in the last quarter. Savant Capital LLC boosted its position in shares of Triple Flag Precious Metals by 115.6% during the 2nd quarter. Savant Capital LLC now owns 39,710 shares of the company's stock worth $941,000 after purchasing an additional 21,290 shares in the last quarter. Wrapmanager Inc. acquired a new stake in shares of Triple Flag Precious Metals in the 2nd quarter valued at about $362,000. Spark Investment Management LLC acquired a new stake in shares of Triple Flag Precious Metals in the 2nd quarter valued at about $2,563,000. Finally, JPMorgan Chase & Co. increased its position in Triple Flag Precious Metals by 741.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 299,713 shares of the company's stock valued at $7,100,000 after buying an additional 264,082 shares in the last quarter. 82.91% of the stock is currently owned by institutional investors and hedge funds.

Triple Flag Precious Metals Company Profile

Triple Flag Precious Metals Corp. is a Toronto-based precious metals streaming and royalty company traded on the New York Stock Exchange under the ticker TFPM. The company specializes in providing upfront financing to mining operators in exchange for the right to purchase a fixed percentage of future gold and silver production at discounted prices. By structuring these streaming and royalty agreements, Triple Flag Precious Metals aims to optimize its capital deployment and maintain a predictable cost profile while benefitting from upside in precious metal prices.

Since its formation in mid-2022, Triple Flag Precious Metals has established a diversified portfolio of streaming and royalty assets across a variety of jurisdictions.

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