Triple Flag Precious Metals (NYSE:TFPM) Lowered to “Hold” Rating by Canaccord Genuity Group

Triple Flag Precious Metals (NYSE:TFPM) was downgraded by analysts at Canaccord Genuity Group from a “strong-buy” rating to a “hold” rating in a research report issued on Thursday,Zacks.com reports.

TFPM has been the subject of a number of other research reports. BMO Capital Markets lowered Triple Flag Precious Metals from an “outperform” rating to a “market perform” rating in a research report on Wednesday, June 25th. Wall Street Zen raised Triple Flag Precious Metals from a “hold” rating to a “buy” rating in a research report on Saturday, September 13th. TD Securities reissued a “buy” rating on shares of Triple Flag Precious Metals in a research report on Tuesday, June 24th. Zacks Research raised Triple Flag Precious Metals from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 25th. Finally, Raymond James Financial reissued an “outperform” rating on shares of Triple Flag Precious Metals in a research report on Friday, August 8th. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $24.00.

Triple Flag Precious Metals Price Performance

TFPM opened at $29.77 on Thursday. The business has a 50 day simple moving average of $26.90 and a two-hundred day simple moving average of $23.68. The firm has a market capitalization of $6.15 billion, a price-to-earnings ratio of 34.61, a PEG ratio of 1.26 and a beta of -0.18. Triple Flag Precious Metals has a one year low of $14.51 and a one year high of $30.44.

Triple Flag Precious Metals (NYSE:TFPM) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates 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 return on equity of 8.81% and a net margin of 53.11%. As a group, sell-side analysts expect that Triple Flag Precious Metals will post 0.71 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Employees Retirement System of Texas bought a new position in Triple Flag Precious Metals during the 2nd quarter valued at approximately $36,000. SVB Wealth LLC bought a new position in Triple Flag Precious Metals during the 1st quarter valued at approximately $34,000. ORG Wealth Partners LLC bought a new position in Triple Flag Precious Metals during the 2nd quarter valued at approximately $97,000. Tower Research Capital LLC TRC increased its position in Triple Flag Precious Metals by 160.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,015 shares of the company’s stock valued at $119,000 after buying an additional 3,086 shares in the last quarter. Finally, Osaic Holdings Inc. increased its position in 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 valued at $140,000 after buying an additional 5,797 shares in the last quarter. Institutional investors 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.