Zacks Research Upgrades Triple Flag Precious Metals (NYSE:TFPM) to “Strong-Buy”

Triple Flag Precious Metals (NYSE:TFPM) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a report issued on Wednesday,Zacks.com reports.

Several other equities analysts have also weighed in on TFPM. Scotiabank raised their price objective on shares of Triple Flag Precious Metals from $34.00 to $43.00 and gave the company a “sector perform” rating in a research report on Monday, January 26th. Weiss Ratings reissued a “buy (b)” rating on shares of Triple Flag Precious Metals in a research report on Wednesday, January 21st. 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 upgraded shares of Triple Flag Precious Metals from a “hold” rating to a “buy” rating in a research note on Saturday, February 21st. Finally, Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Triple Flag Precious Metals in a report on Wednesday, February 4th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, Triple Flag Precious Metals currently has an average rating of “Moderate Buy” and an average price target of $32.25.

Triple Flag Precious Metals Stock Down 2.1%

Shares of Triple Flag Precious Metals stock opened at $37.44 on Wednesday. Triple Flag Precious Metals has a 52 week low of $17.72 and a 52 week high of $41.70. The company has a 50 day moving average price of $36.97 and a 200 day moving average price of $32.68. The firm has a market capitalization of $7.73 billion, a P/E ratio of 31.73, a PEG ratio of 1.97 and a beta of -0.28.

Triple Flag Precious Metals (NYSE:TFPM) last posted its quarterly earnings results on Wednesday, February 18th. The company reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.01. Triple Flag Precious Metals had a net margin of 61.74% and a return on equity of 10.82%. The business had revenue of $118.92 million during the quarter, compared to analyst estimates of $114.92 million. As a group, research analysts anticipate that Triple Flag Precious Metals will post 0.71 earnings per share 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. Bessemer Group Inc. acquired a new position in Triple Flag Precious Metals during the third quarter worth $27,000. Quarry LP acquired a new stake in Triple Flag Precious Metals in the third quarter valued at $33,000. Employees Retirement System of Texas purchased a new stake in Triple Flag Precious Metals in the 2nd quarter worth approximately $36,000. Aventura Private Wealth LLC acquired a new stake in Triple Flag Precious Metals in the fourth quarter valued at $38,000. Finally, EverSource Wealth Advisors LLC boosted its position in Triple Flag Precious Metals by 120.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,217 shares of the company’s stock worth $40,000 after acquiring an additional 664 shares during 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. 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.