Triple Flag Precious Metals (NYSE:TFPM) Cut to Hold at Wall Street Zen

Wall Street Zen downgraded shares of Triple Flag Precious Metals (NYSE:TFPM) from a buy rating to a hold rating in a report published on Saturday.

A number of other brokerages have also issued reports on TFPM. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Triple Flag Precious Metals in a research report on Wednesday, October 8th. Zacks Research raised Triple Flag Precious Metals from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 25th. CIBC restated an “outperform” rating on shares of Triple Flag Precious Metals in a report on Tuesday, July 15th. TD Securities reiterated a “buy” rating on shares of Triple Flag Precious Metals in a report on Tuesday, June 24th. Finally, Canaccord Genuity Group downgraded shares of Triple Flag Precious Metals from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 2nd. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $24.00.

Triple Flag Precious Metals Price Performance

Shares of TFPM opened at $31.03 on Friday. The firm’s 50 day moving average is $27.75 and its 200-day moving average is $24.20. Triple Flag Precious Metals has a 12-month low of $14.51 and a 12-month high of $31.39. The stock has a market capitalization of $6.41 billion, a P/E ratio of 36.08, a P/E/G ratio of 1.29 and a beta of -0.18.

Triple Flag Precious Metals (NYSE:TFPM) last released its earnings results on Wednesday, August 6th. The company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.21 by $0.03. The business had revenue of $94.09 million during the quarter, compared to analyst estimates of $82.76 million. Triple Flag Precious Metals had a net margin of 53.11% and a return on equity of 8.81%. As a group, equities research analysts forecast that Triple Flag Precious Metals will post 0.71 EPS for the current fiscal year.

Triple Flag Precious Metals Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Tuesday, September 2nd were given a dividend of $0.0575 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This is a boost from Triple Flag Precious Metals’s previous quarterly dividend of $0.06. This represents a $0.23 dividend on an annualized basis and a yield of 0.7%. Triple Flag Precious Metals’s payout ratio is presently 26.74%.

Institutional Investors Weigh In On Triple Flag Precious Metals

A number of institutional investors have recently modified their holdings of TFPM. SVB Wealth LLC purchased a new position in shares of Triple Flag Precious Metals during the 1st quarter valued at $34,000. Employees Retirement System of Texas acquired a new stake in Triple Flag Precious Metals during the second quarter valued at $36,000. ORG Wealth Partners LLC purchased a new position in Triple Flag Precious Metals in the second quarter valued at about $97,000. Tower Research Capital LLC TRC increased its position in Triple Flag Precious Metals by 160.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,015 shares of the company’s stock worth $119,000 after purchasing an additional 3,086 shares during the last quarter. Finally, Osaic Holdings Inc. raised its stake in shares of Triple Flag Precious Metals by 4,954.7% during the 2nd quarter. Osaic Holdings Inc. now owns 5,914 shares of the company’s stock worth $140,000 after purchasing an additional 5,797 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.