Triple Flag Precious Metals (NYSE:TFPM) Stock Rating Upgraded by Zacks Research

Triple Flag Precious Metals (NYSE:TFPM) was upgraded by analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Tuesday,Zacks.com reports.

A number of other analysts have also commented on the stock. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Triple Flag Precious Metals in a research note on Wednesday, February 4th. Weiss Ratings restated a “buy (b)” rating on shares of Triple Flag Precious Metals in a research report on Wednesday, January 21st. Wall Street Zen lowered shares of Triple Flag Precious Metals from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Bank of America lifted 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 research report on Thursday, October 16th. Finally, Scotiabank increased their target price on Triple Flag Precious Metals from $34.00 to $43.00 and gave the company a “sector perform” rating in a report on Monday, January 26th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and five have assigned 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 $32.25.

Triple Flag Precious Metals Stock Up 2.9%

Shares of Triple Flag Precious Metals stock opened at $37.41 on Tuesday. Triple Flag Precious Metals has a 12-month low of $16.26 and a 12-month high of $40.29. The firm has a market capitalization of $7.73 billion, a PE ratio of 37.04, a price-to-earnings-growth ratio of 1.05 and a beta of -0.21. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 0.01. The stock’s fifty day moving average is $35.18 and its 200-day moving average is $30.82.

Hedge Funds Weigh In On Triple Flag Precious Metals

Several institutional investors and hedge funds have recently modified their holdings of the stock. Bessemer Group Inc. purchased a new stake in shares of Triple Flag Precious Metals during the third quarter worth $27,000. Quarry LP acquired a new position in Triple Flag Precious Metals in the 3rd quarter worth about $33,000. Employees Retirement System of Texas acquired a new position in Triple Flag Precious Metals in the 2nd quarter worth about $36,000. Aventura Private Wealth LLC purchased a new stake in shares of Triple Flag Precious Metals during the 4th quarter worth about $38,000. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Triple Flag Precious Metals by 120.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,217 shares of the company’s stock valued at $40,000 after buying an additional 664 shares during the last quarter. 82.91% of the stock is currently owned by hedge funds and other institutional investors.

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.