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 results on Wednesday. The company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.06, Zacks reports. The company had revenue of $129.20 million during the quarter, compared to analyst estimates of $129.20 million. Triple Flag Precious Metals had a return on equity of 12.90% and a net margin of 68.68%.

Triple Flag Precious Metals Stock Up 2.5%

NYSE:TFPM traded up $0.80 during midday trading on Thursday, hitting $32.06. The stock had a trading volume of 307,248 shares, compared to its average volume of 634,958. Triple Flag Precious Metals has a one year low of $24.75 and a one year high of $41.70. The company has a market capitalization of $6.61 billion, a price-to-earnings ratio of 21.24, a PEG ratio of 2.64 and a beta of -0.18. The stock has a 50-day moving average of $29.24 and a 200 day moving average of $33.16.

Triple Flag Precious Metals Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be issued a $0.06 dividend. The ex-dividend date is Monday, August 31st. This is a boost from Triple Flag Precious Metals’s previous quarterly dividend of $0.06. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.7%. Triple Flag Precious Metals’s dividend payout ratio (DPR) is currently 15.23%.

Institutional Investors Weigh In On Triple Flag Precious Metals

Hedge funds have recently made changes to their positions in the company. Goldman Sachs Group Inc. raised its holdings in shares of Triple Flag Precious Metals by 69.8% in the first quarter. Goldman Sachs Group Inc. now owns 305,826 shares of the company’s stock valued at $5,857,000 after acquiring an additional 125,746 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in 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 acquiring an additional 264,082 shares in the last quarter. Russell Investments Group Ltd. increased its position in 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 purchasing an additional 1,976 shares during the period. First Trust Advisors LP raised its holdings in shares of Triple Flag Precious Metals by 94.5% in the 2nd quarter. First Trust Advisors LP now owns 103,451 shares of the company’s stock valued at $2,451,000 after purchasing an additional 50,263 shares in the last quarter. Finally, Qube Research & Technologies Ltd raised its holdings 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 purchasing an additional 66,938 shares in the last quarter. 82.91% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on TFPM shares. BMO Capital Markets reiterated a “market perform” rating on shares of Triple Flag Precious Metals in a research report on Friday, June 12th. 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. Wall Street Zen cut shares of Triple Flag Precious Metals from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Scotiabank decreased their price target on shares of Triple Flag Precious Metals from $43.00 to $39.00 and set a “sector perform” rating on the stock in a research note on Tuesday, July 14th. Finally, Jefferies Financial Group lowered their price objective on shares of Triple Flag Precious Metals from $43.00 to $40.00 and set a “buy” rating for the company in a research report on Monday, July 6th. Six research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Triple Flag Precious Metals has an average rating of “Moderate Buy” and an average price target of $38.67.

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.