Triple Flag Precious Metals (NYSE:TFPM) Given New $34.00 Price Target at Scotiabank

Triple Flag Precious Metals (NYSE:TFPM) had its target price decreased by equities researchers at Scotiabank from $35.00 to $34.00 in a report released on Friday,Benzinga reports. The firm presently has a “sector perform” rating on the stock. Scotiabank’s price target indicates a potential upside of 19.28% from the stock’s current price.

Several other research firms have also recently weighed in on TFPM. CIBC reissued an “outperform” rating on shares of Triple Flag Precious Metals in a research report on Tuesday, July 15th. Canaccord Genuity Group cut Triple Flag Precious Metals from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 2nd. Raymond James Financial reiterated an “outperform” rating on shares of Triple Flag Precious Metals in a research report on Friday, October 10th. Wall Street Zen raised shares of Triple Flag Precious Metals from a “hold” rating to a “buy” rating in a research note on Sunday, October 19th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Triple Flag Precious Metals in a report on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $30.00.

Triple Flag Precious Metals Stock Performance

TFPM stock traded up $0.78 during midday trading on Friday, hitting $28.50. 488,104 shares of the company traded hands, compared to its average volume of 477,788. The business has a 50 day simple moving average of $28.93 and a 200-day simple moving average of $25.31. The company has a quick ratio of 4.15, a current ratio of 1.68 and a debt-to-equity ratio of 0.01. Triple Flag Precious Metals has a twelve month low of $14.51 and a twelve month high of $33.51. The stock has a market capitalization of $5.89 billion, a price-to-earnings ratio of 28.22, a price-to-earnings-growth ratio of 0.88 and a beta of -0.18.

Triple Flag Precious Metals (NYSE:TFPM) last posted its earnings results on Tuesday, November 4th. The company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.02. The business had revenue of $93.50 million for the quarter, compared to analyst estimates of $87.46 million. Triple Flag Precious Metals had a net margin of 59.43% and a return on equity of 9.56%. As a group, equities research analysts predict that Triple Flag Precious Metals will post 0.71 earnings per share for the current year.

Institutional Investors Weigh In On Triple Flag Precious Metals

Several institutional investors have recently added to or reduced their stakes in TFPM. Norges Bank acquired a new position in Triple Flag Precious Metals in the 2nd quarter worth $24,816,000. Vanguard Group Inc. grew its stake in shares of Triple Flag Precious Metals by 1,619.6% during the 3rd quarter. Vanguard Group Inc. now owns 928,368 shares of the company’s stock worth $27,177,000 after acquiring an additional 874,382 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of Triple Flag Precious Metals by 67.4% in the second quarter. Arrowstreet Capital Limited Partnership now owns 2,097,794 shares of the company’s stock worth $49,731,000 after purchasing an additional 844,765 shares in the last quarter. Mackenzie Financial Corp raised its holdings in Triple Flag Precious Metals by 2,463.9% during the first quarter. Mackenzie Financial Corp now owns 835,240 shares of the company’s stock worth $15,978,000 after acquiring an additional 802,663 shares in the last quarter. Finally, SCS Capital Management LLC bought a new position in Triple Flag Precious Metals in the first quarter valued at approximately $15,179,000. 82.91% of the stock is owned by institutional investors.

About Triple Flag Precious Metals

Triple Flag Precious Metals Corp., a precious-metals-focused streaming and royalty company, engages in acquiring and managing precious metals, streams, royalties and other mineral interests in Australia, Canada, Colombia, Cote d'Ivoire, Honduras, Mexico, Mongolia, Peru, South Africa, the United States, and internationally.