Triple Flag Precious Metals (NYSE:TFPM) Releases Earnings Results, Beats Estimates By $0.02 EPS

Triple Flag Precious Metals (NYSE:TFPM) released its quarterly earnings data on Tuesday. The company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.02, Zacks reports. The company had revenue of $93.50 million for the quarter, compared to the consensus estimate of $87.46 million. Triple Flag Precious Metals had a return on equity of 8.81% and a net margin of 53.11%.

Triple Flag Precious Metals Stock Up 2.6%

Triple Flag Precious Metals stock traded up $0.71 during trading hours on Wednesday, hitting $27.94. The stock had a trading volume of 149,451 shares, compared to its average volume of 477,416. Triple Flag Precious Metals has a fifty-two week low of $14.51 and a fifty-two week high of $33.51. The company has a 50-day moving average of $28.88 and a two-hundred day moving average of $25.28. The company has a market cap of $5.77 billion, a PE ratio of 32.49, a price-to-earnings-growth ratio of 0.88 and a beta of -0.18.

Triple Flag Precious Metals Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be issued a $0.0575 dividend. The ex-dividend date of this dividend is Monday, December 1st. This represents a $0.23 annualized dividend and a yield of 0.8%. Triple Flag Precious Metals’s dividend payout ratio is 26.74%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Bank of America raised their target price on Triple Flag Precious Metals from $33.00 to $37.00 and gave the company a “buy” rating in a report on Thursday, October 16th. Zacks Research upgraded Triple Flag Precious Metals from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 25th. Wall Street Zen upgraded Triple Flag Precious Metals from a “hold” rating to a “buy” rating in a report on Sunday, October 19th. Canaccord Genuity Group downgraded Triple Flag Precious Metals from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 2nd. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Triple Flag Precious Metals in a report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $27.25.

Hedge Funds Weigh In On Triple Flag Precious Metals

Several large investors have recently bought and sold shares of the business. Russell Investments Group Ltd. grew its holdings 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 worth $723,000 after acquiring an additional 1,976 shares during the period. Engineers Gate Manager LP grew its stake in shares of Triple Flag Precious Metals by 20.5% during the second quarter. Engineers Gate Manager LP now owns 12,090 shares of the company’s stock worth $286,000 after purchasing an additional 2,055 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in Triple Flag Precious Metals by 8.1% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 36,558 shares of the company’s stock valued at $867,000 after purchasing an additional 2,724 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in Triple Flag Precious Metals by 160.0% in the second quarter. Tower Research Capital LLC TRC now owns 5,015 shares of the company’s stock valued at $119,000 after buying an additional 3,086 shares during the period. Finally, Osaic Holdings Inc. lifted its stake in Triple Flag Precious Metals by 4,954.7% in the second quarter. Osaic Holdings Inc. now owns 5,914 shares of the company’s stock valued at $140,000 after buying an additional 5,797 shares during the period. 82.91% of the stock is currently owned by institutional investors and hedge funds.

Triple Flag Precious Metals Company Profile

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.