Triple Flag Precious Metals (NYSE:TFPM) Stock Rating Upgraded by Canaccord Genuity Group

Triple Flag Precious Metals (NYSE:TFPM) was upgraded by analysts at Canaccord Genuity Group from a “hold” rating to a “buy” rating in a report released on Friday.

A number of other equities research analysts have also recently commented on the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Triple Flag Precious Metals in a research note on Monday, April 20th. Zacks Research cut Triple Flag Precious Metals from a “strong-buy” rating to a “hold” rating in a research note on Thursday, April 9th. Finally, Wall Street Zen cut Triple Flag Precious Metals from a “buy” rating to a “hold” rating in a research note on Saturday, June 6th. Six analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $40.00.

Triple Flag Precious Metals Stock Up 4.2%

Shares of Triple Flag Precious Metals stock opened at $27.98 on Friday. Triple Flag Precious Metals has a 12 month low of $22.60 and a 12 month high of $41.70. The business has a fifty day simple moving average of $32.81 and a 200 day simple moving average of $34.47. The stock has a market cap of $5.78 billion, a PE ratio of 18.53, a price-to-earnings-growth ratio of 4.92 and a beta of -0.22.

Triple Flag Precious Metals (NYSE:TFPM) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.02. Triple Flag Precious Metals had a return on equity of 12.90% and a net margin of 68.68%.The business had revenue of $147.00 million during the quarter, compared to analysts’ expectations of $147.00 million. Analysts expect that Triple Flag Precious Metals will post 1.43 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Bessemer Group Inc. acquired a new position in shares of Triple Flag Precious Metals during the third quarter worth about $27,000. Banque Cantonale Vaudoise acquired a new position in shares of Triple Flag Precious Metals during the first quarter worth about $33,000. Quarry LP acquired a new position in shares of Triple Flag Precious Metals during the third quarter worth about $33,000. Aventura Private Wealth LLC acquired a new position in shares of Triple Flag Precious Metals during the fourth quarter worth about $38,000. Finally, EverSource Wealth Advisors LLC boosted its position in shares of Triple Flag Precious Metals by 120.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,217 shares of the company’s stock worth $40,000 after buying an additional 664 shares during the period. 82.91% of the stock is owned by institutional investors and hedge funds.

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.