Triple Flag Precious Metals (NYSE:TFPM) Lowered to “Strong Sell” Rating by Zacks Research

Zacks Research lowered shares of Triple Flag Precious Metals (NYSE:TFPM) from a hold rating to a strong sell rating in a research report sent to investors on Monday,Zacks.com reports.

A number of other research firms also recently issued reports on TFPM. Scotiabank cut their target price on shares of Triple Flag Precious Metals from $35.00 to $34.00 and set a “sector perform” rating for the company in a research report on Friday, November 7th. Canaccord Genuity Group downgraded Triple Flag Precious Metals from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 2nd. Bank of America raised their price objective on shares of Triple Flag Precious Metals from $33.00 to $37.00 and gave the stock a “buy” rating in a report on Thursday, October 16th. Weiss Ratings reissued a “buy (b)” rating on shares of Triple Flag Precious Metals in a research note on Wednesday, October 8th. Finally, Wall Street Zen downgraded shares of Triple Flag Precious Metals from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Triple Flag Precious Metals currently has an average rating of “Moderate Buy” and an average price target of $30.00.

Triple Flag Precious Metals Stock Performance

Shares of TFPM traded down $0.01 during midday trading on Monday, hitting $36.59. 309,437 shares of the stock traded hands, compared to its average volume of 511,150. Triple Flag Precious Metals has a 1-year low of $15.45 and a 1-year high of $37.60. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.68 and a current ratio of 1.68. The firm has a market capitalization of $7.56 billion, a PE ratio of 36.20, a price-to-earnings-growth ratio of 1.21 and a beta of -0.21. The business’s 50 day moving average price is $32.80 and its two-hundred day moving average price is $28.95.

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

Triple Flag Precious Metals Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 1st were paid a dividend of $0.0575 per share. This represents a $0.23 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend was Monday, December 1st. Triple Flag Precious Metals’s dividend payout ratio (DPR) is presently 22.77%.

Hedge Funds Weigh In On Triple Flag Precious Metals

A number of institutional investors and hedge funds have recently made changes to their positions in TFPM. Public Employees Retirement System of Ohio boosted its holdings in Triple Flag Precious Metals by 2.2% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 16,751 shares of the company’s stock worth $491,000 after acquiring an additional 368 shares during the last quarter. Goehring & Rozencwajg Associates LLC lifted its holdings in shares of Triple Flag Precious Metals by 0.6% during the 3rd quarter. Goehring & Rozencwajg Associates LLC now owns 100,724 shares of the company’s stock worth $2,948,000 after acquiring an additional 636 shares during the last quarter. Parvin Asset Management LLC grew its holdings in shares of Triple Flag Precious Metals by 1.7% during the 3rd quarter. Parvin Asset Management LLC now owns 38,940 shares of the company’s stock valued at $1,139,000 after purchasing an additional 650 shares during the last quarter. SBI Securities Co. Ltd. grew its holdings in Triple Flag Precious Metals by 100.6% in the 3rd quarter. SBI Securities Co. Ltd. now owns 1,408 shares of the company’s stock worth $41,000 after acquiring an additional 706 shares during the last quarter. Finally, Mariner LLC lifted its position in shares of Triple Flag Precious Metals by 6.1% in the 3rd quarter. Mariner LLC now owns 15,667 shares of the company’s stock worth $458,000 after purchasing an additional 906 shares during the period. Institutional investors own 82.91% of the company’s stock.

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.