Triple Flag Precious Metals (NYSE:TFPM) Sets New 12-Month High – Here’s Why

Triple Flag Precious Metals Corp. (NYSE:TFPM) hit a new 52-week high on Monday . The company traded as high as $36.71 and last traded at $36.39, with a volume of 64839 shares trading hands. The stock had previously closed at $35.10.

Analysts Set New Price Targets

Several equities analysts have commented on TFPM shares. Wall Street Zen cut shares of Triple Flag Precious Metals from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Raymond James Financial reiterated an “outperform” rating on shares of Triple Flag Precious Metals in a report on Friday, October 10th. Zacks Research lowered shares of Triple Flag Precious Metals from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 25th. Bank of America boosted their target price on Triple Flag Precious Metals from $33.00 to $37.00 and gave the stock a “buy” rating in a report on Thursday, October 16th. Finally, Canaccord Genuity Group lowered Triple Flag Precious Metals from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 2nd. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $30.00.

Triple Flag Precious Metals Price Performance

The firm has a market capitalization of $7.49 billion, a P/E ratio of 35.87, a P/E/G ratio of 1.18 and a beta of -0.21. The business’s fifty day moving average is $32.45 and its 200 day moving average is $28.77. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 0.01.

Triple Flag Precious Metals (NYSE:TFPM) last posted its quarterly earnings results on Tuesday, November 4th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.02. Triple Flag Precious Metals had a net margin of 59.43% and a return on equity of 9.56%. The firm had revenue of $93.50 million for the quarter, compared to analyst estimates of $87.46 million. As a group, analysts forecast that Triple Flag Precious Metals Corp. will post 0.71 EPS for the current year.

Triple Flag Precious Metals Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 1st were given a $0.0575 dividend. The ex-dividend date was Monday, December 1st. This represents a $0.23 dividend on an annualized basis and a dividend yield of 0.6%. Triple Flag Precious Metals’s dividend payout ratio (DPR) is 22.77%.

Institutional Trading of Triple Flag Precious Metals

A number of hedge funds have recently bought and sold shares of the company. Bessemer Group Inc. purchased a new position in shares of Triple Flag Precious Metals in the third quarter worth approximately $27,000. Quarry LP acquired a new position in Triple Flag Precious Metals in the 3rd quarter worth approximately $33,000. Aventura Private Wealth LLC acquired a new position in Triple Flag Precious Metals in the 4th quarter worth approximately $38,000. SBI Securities Co. Ltd. grew its position in Triple Flag Precious Metals by 100.6% during the 3rd quarter. SBI Securities Co. Ltd. now owns 1,408 shares of the company’s stock worth $41,000 after purchasing an additional 706 shares in the last quarter. Finally, Employees Retirement System of Texas acquired a new stake in Triple Flag Precious Metals during the 2nd quarter valued at $36,000. 82.91% of the stock is owned by hedge funds and other institutional investors.

About Triple Flag Precious Metals

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.