Triple Flag Precious Metals (NYSE:TFPM) Downgraded by Zacks Research to “Strong Sell”

Triple Flag Precious Metals (NYSE:TFPM) was downgraded by investment analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

A number of other equities analysts have also issued reports on the stock. Raymond James Financial restated an “outperform” rating on shares of Triple Flag Precious Metals in a research report on Friday, October 10th. Weiss Ratings reissued a “buy (b)” rating on shares of Triple Flag Precious Metals in a report on Wednesday, October 8th. Wall Street Zen downgraded Triple Flag Precious Metals from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Scotiabank lowered their price objective on shares of Triple Flag Precious Metals from $35.00 to $34.00 and set a “sector perform” rating on the stock in a research report on Friday, November 7th. Finally, Canaccord Genuity Group downgraded shares of Triple Flag Precious Metals from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 2nd. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Triple Flag Precious Metals currently has a consensus rating of “Moderate Buy” and an average price target of $30.00.

Triple Flag Precious Metals Stock Down 0.9%

Shares of TFPM traded down $0.34 during midday trading on Monday, hitting $36.25. The company had a trading volume of 137,382 shares, compared to its average volume of 489,175. Triple Flag Precious Metals has a 1 year low of $15.45 and a 1 year high of $37.60. The company’s 50-day simple moving average is $32.80 and its 200-day simple moving average is $28.95. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.68 and a current ratio of 1.68. The firm has a market capitalization of $7.49 billion, a P/E ratio of 35.89, a P/E/G ratio of 1.21 and a beta of -0.21.

Triple Flag Precious Metals (NYSE:TFPM) last announced its quarterly earnings results on Tuesday, November 4th. The company reported $0.24 earnings per share (EPS) for the quarter, topping 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%. As a group, sell-side analysts expect that Triple Flag Precious Metals will post 0.71 EPS for the current year.

Hedge Funds Weigh In On Triple Flag Precious Metals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TFPM. Public Employees Retirement System of Ohio raised its position in shares of Triple Flag Precious Metals by 2.2% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 16,751 shares of the company’s stock worth $491,000 after purchasing an additional 368 shares during the last quarter. Goehring & Rozencwajg Associates LLC increased its position in Triple Flag Precious Metals by 0.6% during the third quarter. Goehring & Rozencwajg Associates LLC now owns 100,724 shares of the company’s stock worth $2,948,000 after buying an additional 636 shares in the last quarter. Parvin Asset Management LLC raised its holdings in shares of Triple Flag Precious Metals by 1.7% in the third quarter. Parvin Asset Management LLC now owns 38,940 shares of the company’s stock worth $1,139,000 after acquiring an additional 650 shares during the last quarter. SBI Securities Co. Ltd. lifted its position in shares of Triple Flag Precious Metals by 100.6% in the third quarter. SBI Securities Co. Ltd. now owns 1,408 shares of the company’s stock valued at $41,000 after acquiring an additional 706 shares in the last quarter. Finally, Mariner LLC boosted its stake in shares of Triple Flag Precious Metals by 6.1% during the third quarter. Mariner LLC now owns 15,667 shares of the company’s stock valued at $458,000 after acquiring an additional 906 shares during the last quarter. Institutional investors and hedge funds own 82.91% of the company’s stock.

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.