Scotiabank Increases Triple Flag Precious Metals (NYSE:TFPM) Price Target to $20.50

Triple Flag Precious Metals (NYSE:TFPM) had its price target raised by equities researchers at Scotiabank from $19.00 to $20.50 in a report released on Thursday, BayStreet.CA reports. Scotiabank’s target price indicates a potential upside of 20.52% from the stock’s current price.

TFPM has been the topic of several other reports. Jefferies Financial Group raised their price target on shares of Triple Flag Precious Metals from $14.00 to $18.00 and gave the stock a “buy” rating in a research note on Monday, April 22nd. Bank of America raised their target price on shares of Triple Flag Precious Metals from $16.25 to $16.50 and gave the stock a “buy” rating in a research report on Monday, March 18th.

Triple Flag Precious Metals Price Performance

Triple Flag Precious Metals stock traded down $0.33 during trading hours on Thursday, hitting $17.01. The stock had a trading volume of 97,183 shares, compared to its average volume of 174,767. Triple Flag Precious Metals has a 1-year low of $11.75 and a 1-year high of $17.85. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.40 and a quick ratio of 4.40. The stock’s fifty day moving average is $15.55 and its two-hundred day moving average is $13.84. The stock has a market capitalization of $3.42 billion, a price-to-earnings ratio of 89.79, a PEG ratio of 0.81 and a beta of -0.12.

Triple Flag Precious Metals (NYSE:TFPM) last released its quarterly earnings results on Tuesday, May 7th. The company reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.01. The company had revenue of $57.53 million during the quarter. Triple Flag Precious Metals had a return on equity of 4.17% and a net margin of 17.59%. As a group, analysts predict that Triple Flag Precious Metals will post 0.48 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Triple Flag Precious Metals

A number of institutional investors have recently added to or reduced their stakes in TFPM. Sunbelt Securities Inc. increased its holdings in Triple Flag Precious Metals by 112.7% in the 1st quarter. Sunbelt Securities Inc. now owns 7,604 shares of the company’s stock valued at $110,000 after purchasing an additional 4,029 shares in the last quarter. Tocqueville Asset Management L.P. acquired a new position in Triple Flag Precious Metals in the 3rd quarter worth $134,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Triple Flag Precious Metals by 51.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,125 shares of the company’s stock worth $175,000 after acquiring an additional 4,475 shares during the last quarter. Meixler Investment Management Ltd. grew its stake in Triple Flag Precious Metals by 10.6% during the 3rd quarter. Meixler Investment Management Ltd. now owns 13,450 shares of the company’s stock valued at $176,000 after purchasing an additional 1,287 shares in the last quarter. Finally, Orion Portfolio Solutions LLC grew its position in shares of Triple Flag Precious Metals by 24.9% during the third quarter. Orion Portfolio Solutions LLC now owns 15,187 shares of the company’s stock worth $198,000 after buying an additional 3,026 shares in the last quarter. Hedge funds and other institutional investors own 82.91% of the company’s stock.

Triple Flag Precious Metals Company Profile

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.