Triple Flag Precious Metals (NYSE:TFPM) Issues Earnings Results, Beats Estimates By $0.06 EPS

Triple Flag Precious Metals (NYSE:TFPM) announced its quarterly earnings data on Wednesday. The company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.06, Zacks reports. Triple Flag Precious Metals had a return on equity of 12.90% and a net margin of 68.68%.

Triple Flag Precious Metals Trading Up 4.9%

NYSE:TFPM traded up $1.47 during mid-day trading on Wednesday, hitting $31.37. The stock had a trading volume of 870,234 shares, compared to its average volume of 434,075. Triple Flag Precious Metals has a twelve month low of $24.39 and a twelve month high of $41.70. The company has a market capitalization of $6.46 billion, a PE ratio of 20.78, a PEG ratio of 2.64 and a beta of -0.18. The stock has a 50-day simple moving average of $29.24 and a two-hundred day simple moving average of $33.16.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Quarry LP purchased a new position in Triple Flag Precious Metals in the third quarter valued at approximately $33,000. Tower Research Capital LLC TRC raised its stake in Triple Flag Precious Metals by 160.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,015 shares of the company’s stock worth $119,000 after acquiring an additional 3,086 shares in the last quarter. Caitlin John LLC lifted its position in Triple Flag Precious Metals by 11.2% in the fourth quarter. Caitlin John LLC now owns 3,730 shares of the company’s stock valued at $124,000 after acquiring an additional 375 shares during the last quarter. Northwest & Ethical Investments L.P. boosted its stake in Triple Flag Precious Metals by 54.8% in the fourth quarter. Northwest & Ethical Investments L.P. now owns 4,009 shares of the company’s stock valued at $133,000 after acquiring an additional 1,420 shares in the last quarter. Finally, Osaic Holdings Inc. grew its holdings in shares of Triple Flag Precious Metals by 4,954.7% during the second quarter. Osaic Holdings Inc. now owns 5,914 shares of the company’s stock worth $140,000 after purchasing an additional 5,797 shares during the last quarter. Hedge funds and other institutional investors own 82.91% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Bank of America reduced their price target on Triple Flag Precious Metals from $39.00 to $37.00 and set a “buy” rating on the stock in a report on Thursday, July 9th. Weiss Ratings cut shares of Triple Flag Precious Metals from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, June 12th. Canaccord Genuity Group raised shares of Triple Flag Precious Metals from a “hold” rating to a “buy” rating in a research note on Friday, June 12th. Jefferies Financial Group reduced their price target on shares of Triple Flag Precious Metals from $43.00 to $40.00 and set a “buy” rating on the stock in a research report on Monday, July 6th. Finally, BMO Capital Markets reissued a “market perform” rating on shares of Triple Flag Precious Metals in a research note on Friday, June 12th. Six equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Triple Flag Precious Metals presently has an average rating of “Moderate Buy” and an average price target of $38.67.

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.