Triple Flag Precious Metals (NYSE:TFPM) Price Target Lowered to $39.00 at Scotiabank

Triple Flag Precious Metals (NYSE:TFPM) had its price objective decreased by equities research analysts at Scotiabank from $43.00 to $39.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has a “sector perform” rating on the stock. Scotiabank’s target price points to a potential upside of 39.26% from the company’s previous close.

A number of other research firms have also recently issued reports on TFPM. Bank of America decreased their price target on shares of Triple Flag Precious Metals from $39.00 to $37.00 and set a “buy” rating for the company in a report on Thursday, July 9th. BMO Capital Markets restated a “market perform” rating on shares of Triple Flag Precious Metals in a research note on Friday, June 12th. Canaccord Genuity Group upgraded Triple Flag Precious Metals from a “hold” rating to a “buy” rating in a research report on Friday, June 12th. Jefferies Financial Group dropped their target price on Triple Flag Precious Metals from $43.00 to $40.00 and set a “buy” rating on the stock in a report on Monday, July 6th. Finally, Zacks Research lowered Triple Flag Precious Metals from a “hold” rating to a “strong sell” rating in a report on Friday. Six research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $38.67.

Triple Flag Precious Metals Stock Up 1.5%

Shares of Triple Flag Precious Metals stock traded up $0.42 during trading on Tuesday, reaching $28.01. The company’s stock had a trading volume of 217,391 shares, compared to its average volume of 659,143. Triple Flag Precious Metals has a 1-year low of $22.60 and a 1-year high of $41.70. The company has a 50-day simple moving average of $30.51 and a two-hundred day simple moving average of $33.88. The company has a market cap of $5.79 billion, a price-to-earnings ratio of 18.54, a P/E/G ratio of 2.64 and a beta of -0.19.

Triple Flag Precious Metals (NYSE:TFPM) last announced its earnings results on Tuesday, May 5th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $147.00 million for the quarter, compared to analyst estimates of $147.00 million. As a group, analysts anticipate that Triple Flag Precious Metals will post 1.34 earnings per share 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 the business. Banque Cantonale Vaudoise acquired a new position in shares of Triple Flag Precious Metals during the 1st quarter worth approximately $33,000. Quarry LP purchased a new position in shares of Triple Flag Precious Metals in the 3rd quarter valued at $33,000. Aventura Private Wealth LLC purchased a new stake in shares of Triple Flag Precious Metals in the fourth quarter worth about $38,000. EverSource Wealth Advisors LLC raised its stake 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 valued at $40,000 after purchasing an additional 664 shares during the period. Finally, Tower Research Capital LLC TRC lifted its holdings in Triple Flag Precious Metals by 160.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,015 shares of the company’s stock worth $119,000 after buying an additional 3,086 shares in 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.