Triple Flag Precious Metals (NYSE:TFPM) Releases Quarterly Earnings Results

Triple Flag Precious Metals (NYSE:TFPM) posted its quarterly earnings results on Wednesday. The company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.01, Zacks reports. The company had revenue of $118.92 million for the quarter, compared to analysts’ expectations of $114.92 million. Triple Flag Precious Metals had a return on equity of 11.10% and a net margin of 61.74%.

Triple Flag Precious Metals Trading Up 2.1%

Shares of NYSE:TFPM opened at $36.69 on Friday. The firm has a fifty day moving average of $35.48 and a two-hundred day moving average of $31.29. 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 has a 12-month low of $16.26 and a 12-month high of $40.29. The firm has a market capitalization of $7.58 billion, a P/E ratio of 31.09, a price-to-earnings-growth ratio of 0.96 and a beta of -0.21.

Triple Flag Precious Metals Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 2nd will be given a $0.0575 dividend. The ex-dividend date is Monday, March 2nd. This represents a $0.23 dividend on an annualized basis and a yield of 0.6%. Triple Flag Precious Metals’s dividend payout ratio is presently 22.77%.

Institutional Trading of Triple Flag Precious Metals

Several hedge funds and other institutional investors have recently modified their holdings of TFPM. Goldman Sachs Group Inc. boosted its position in Triple Flag Precious Metals by 69.8% during the first quarter. Goldman Sachs Group Inc. now owns 305,826 shares of the company’s stock valued at $5,857,000 after purchasing an additional 125,746 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Triple Flag Precious Metals by 741.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 299,713 shares of the company’s stock worth $7,100,000 after purchasing an additional 264,082 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Triple Flag Precious Metals by 6.9% during the 2nd quarter. Russell Investments Group Ltd. now owns 30,537 shares of the company’s stock valued at $723,000 after buying an additional 1,976 shares during the last quarter. First Trust Advisors LP lifted its holdings in shares of Triple Flag Precious Metals by 94.5% during the 2nd quarter. First Trust Advisors LP now owns 103,451 shares of the company’s stock valued at $2,451,000 after buying an additional 50,263 shares during the last quarter. Finally, Qube Research & Technologies Ltd grew its stake in shares of Triple Flag Precious Metals by 30.1% in the 2nd quarter. Qube Research & Technologies Ltd now owns 289,037 shares of the company’s stock valued at $6,847,000 after buying an additional 66,938 shares in the last quarter. 82.91% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TFPM has been the topic of a number of recent analyst reports. Scotiabank boosted their target price on Triple Flag Precious Metals from $34.00 to $43.00 and gave the stock a “sector perform” rating in a research report on Monday, January 26th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Triple Flag Precious Metals in a research note on Wednesday, February 4th. BMO Capital Markets restated a “market perform” rating on shares of Triple Flag Precious Metals in a report on Thursday, January 15th. Wall Street Zen cut shares of Triple Flag Precious Metals from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Finally, Zacks Research upgraded shares of Triple Flag Precious Metals from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 10th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, Triple Flag Precious Metals presently has a consensus rating of “Moderate Buy” and an average target price of $32.25.

About Triple Flag Precious Metals

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.