Triple Flag Precious Metals (NYSE:TFPM) Upgraded by Zacks Research to "Hold" Rating

Key Points

• Zacks Research upgraded Triple Flag Precious Metals from “strong sell” to “hold,” while the broader analyst consensus remains “Moderate Buy,” with an average price target of $38.67.
• Several analysts recently lowered their price targets but maintained bullish or neutral ratings; Bank of America now targets $37 and Jefferies targets $40.
• Triple Flag reported quarterly EPS of $0.39, beating the $0.33 consensus estimate, with $129.2 million in revenue and an 84.32% net margin. Institutional investors own 82.91% of the company.

Triple Flag Precious Metals (NYSE:TFPM - Get Free Report) was upgraded by equities researchers at Zacks Research from a "strong sell" rating to a "hold" rating in a note issued to investors on Monday,Zacks.com reports.

Other analysts also recently issued reports about the company. Bank of America cut their price objective on Triple Flag Precious Metals from $39.00 to $37.00 and set a "buy" rating for the company in a research report on Thursday, July 9th. Jefferies Financial Group cut their target price on shares of Triple Flag Precious Metals from $43.00 to $40.00 and set a "buy" rating on the stock in a research note on Monday, July 6th. Weiss Ratings lowered shares of Triple Flag Precious Metals from a "buy (b)" rating to a "buy (b-)" rating in a report on Friday, June 12th. BMO Capital Markets restated a "market perform" rating on shares of Triple Flag Precious Metals in a research note on Friday, June 12th. Finally, Canaccord Genuity Group raised Triple Flag Precious Metals from a "hold" rating to a "buy" rating in a research report on Friday, June 12th. Six investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $38.67.

Triple Flag Precious Metals Stock Performance

Shares of Triple Flag Precious Metals stock opened at $32.02 on Monday. Triple Flag Precious Metals has a one year low of $24.75 and a one year high of $41.70. The company has a market cap of $6.60 billion, a price-to-earnings ratio of 16.09, a PEG ratio of 2.80 and a beta of -0.18. The business's 50 day moving average price is $29.34 and its 200 day moving average price is $33.02.

Triple Flag Precious Metals (NYSE:TFPM - Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.06. Triple Flag Precious Metals had a return on equity of 14.09% and a net margin of 84.32%.The company had revenue of $129.20 million during the quarter, compared to analysts' expectations of $129.20 million. On average, analysts predict that Triple Flag Precious Metals will post 1.44 EPS for the current fiscal year.

Hedge Funds Weigh In On Triple Flag Precious Metals

Several large investors have recently bought and sold shares of the business. Banque Cantonale Vaudoise acquired a new position in shares of Triple Flag Precious Metals during the 1st quarter worth about $33,000. Quarry LP acquired a new position in Triple Flag Precious Metals in the third quarter valued at approximately $33,000. EverSource Wealth Advisors LLC boosted its holdings in Triple Flag Precious Metals by 120.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,217 shares of the company's stock valued at $40,000 after purchasing an additional 664 shares in the last quarter. Caitlin John LLC increased its stake in Triple Flag Precious Metals by 11.2% in the fourth quarter. Caitlin John LLC now owns 3,730 shares of the company's stock valued at $124,000 after purchasing an additional 375 shares during the last quarter. Finally, Evelyn Partners Asset Management Ltd increased its stake in Triple Flag Precious Metals by 33.3% in the first quarter. Evelyn Partners Asset Management Ltd now owns 4,000 shares of the company's stock valued at $139,000 after purchasing an additional 1,000 shares during 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. 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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