Triple Flag Precious Metals (NYSE:TFPM) Hits New 1-Year High – What’s Next?

Triple Flag Precious Metals Corp. (NYSE:TFPM)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $39.07 and last traded at $38.6060, with a volume of 134122 shares. The stock had previously closed at $36.99.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Zacks Research downgraded Triple Flag Precious Metals from a “hold” rating to a “strong sell” rating in a research note on Monday, January 12th. Wall Street Zen downgraded Triple Flag Precious Metals from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Canaccord Genuity Group lowered shares of Triple Flag Precious Metals from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 2nd. BMO Capital Markets reissued a “market perform” rating on shares of Triple Flag Precious Metals in a report on Thursday. Finally, Bank of America lifted their price target on Triple Flag Precious Metals from $33.00 to $37.00 and gave the stock a “buy” rating in a research note on Thursday, October 16th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $30.00.

Triple Flag Precious Metals Price Performance

The business’s 50-day simple moving average is $33.46 and its 200-day simple moving average is $29.32. The stock has a market cap of $7.84 billion, a PE ratio of 37.67, a PEG ratio of 1.12 and a beta of -0.21. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 0.01.

Triple Flag Precious Metals (NYSE:TFPM) last announced its earnings results on Tuesday, November 4th. The company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.02. The company had revenue of $93.50 million during the quarter, compared to the consensus estimate of $87.46 million. Triple Flag Precious Metals had a return on equity of 9.56% and a net margin of 59.43%. On average, research analysts expect that Triple Flag Precious Metals Corp. will post 0.71 EPS for the current fiscal year.

Triple Flag Precious Metals Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 1st were given a $0.0575 dividend. The ex-dividend date of this dividend was Monday, December 1st. This represents a $0.23 annualized dividend and a dividend yield of 0.6%. Triple Flag Precious Metals’s dividend payout ratio is currently 22.77%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Triple Flag Precious Metals by 39.9% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,642,566 shares of the company’s stock worth $77,373,000 after buying an additional 753,923 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of Triple Flag Precious Metals by 25.3% in the third quarter. Arrowstreet Capital Limited Partnership now owns 2,628,151 shares of the company’s stock worth $76,908,000 after acquiring an additional 530,357 shares during the period. Van ECK Associates Corp lifted its holdings in shares of Triple Flag Precious Metals by 10.8% during the 3rd quarter. Van ECK Associates Corp now owns 2,555,954 shares of the company’s stock valued at $75,244,000 after buying an additional 250,123 shares during the period. Tidal Investments LLC lifted its holdings in Triple Flag Precious Metals by 59.5% in the third quarter. Tidal Investments LLC now owns 2,396,198 shares of the company’s stock valued at $70,113,000 after acquiring an additional 893,566 shares during the period. Finally, Sprott Inc. boosted its holdings in shares of Triple Flag Precious Metals by 49.2% in the third quarter. Sprott Inc. now owns 1,156,609 shares of the company’s stock worth $33,844,000 after buying an additional 381,379 shares during the last quarter. 82.91% of the stock is owned by hedge funds and other institutional investors.

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.