Triple Flag Precious Metals Corp. (NYSE:TFPM – Get Free Report)’s stock price was down 5% during mid-day trading on Monday . The company traded as low as $29.88 and last traded at $29.93. Approximately 477,992 shares were traded during mid-day trading, a decline of 28% from the average session volume of 662,474 shares. The stock had previously closed at $31.49.
Analysts Set New Price Targets
Several brokerages have recently commented on TFPM. Jefferies Financial Group reduced their target price on Triple Flag Precious Metals from $43.00 to $40.00 and set a “buy” rating on the stock in a report on Monday. Wall Street Zen upgraded Triple Flag Precious Metals from a “hold” rating to a “buy” rating in a research report on Saturday, June 27th. BMO Capital Markets reissued a “market perform” rating on shares of Triple Flag Precious Metals in a research note on Friday, June 12th. Canaccord Genuity Group upgraded Triple Flag Precious Metals from a “hold” rating to a “buy” rating in a report on Friday, June 12th. Finally, Zacks Research lowered Triple Flag Precious Metals from a “strong-buy” rating to a “hold” rating in a research note on Thursday, April 9th. Six analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $40.00.
Read Our Latest Research Report on TFPM
Triple Flag Precious Metals Stock Down 4.7%
Triple Flag Precious Metals (NYSE:TFPM – Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.02. The firm had revenue of $147.00 million for the quarter, compared to the consensus estimate of $147.00 million. Triple Flag Precious Metals had a return on equity of 12.90% and a net margin of 68.68%. Research analysts forecast that Triple Flag Precious Metals Corp. will post 1.53 EPS for the current year.
Triple Flag Precious Metals Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were issued a $0.0575 dividend. The ex-dividend date was Monday, June 1st. This represents a $0.23 annualized dividend and a yield of 0.8%. Triple Flag Precious Metals’s dividend payout ratio (DPR) is currently 15.23%.
Institutional Trading of Triple Flag Precious Metals
Several institutional investors and hedge funds have recently added to or reduced their stakes in TFPM. Assenagon Asset Management S.A. acquired a new position in Triple Flag Precious Metals in the fourth quarter valued at approximately $7,816,000. JPMorgan Chase & Co. raised its position in shares of Triple Flag Precious Metals by 26.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 379,368 shares of the company’s stock valued at $11,100,000 after acquiring an additional 79,655 shares during the last quarter. U S Global Investors Inc. raised its position in shares of Triple Flag Precious Metals by 30.7% during the 4th quarter. U S Global Investors Inc. now owns 279,270 shares of the company’s stock valued at $9,277,000 after acquiring an additional 65,605 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Triple Flag Precious Metals by 82.2% in the 4th quarter. Vanguard Group Inc. now owns 1,691,194 shares of the company’s stock valued at $56,198,000 after purchasing an additional 762,826 shares during the period. Finally, Intact Investment Management Inc. lifted its stake in shares of Triple Flag Precious Metals by 107.7% in the 4th quarter. Intact Investment Management Inc. now owns 108,000 shares of the company’s stock valued at $3,589,000 after purchasing an additional 56,000 shares during the period. 82.91% of the stock is owned by 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.
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