Triple Flag Precious Metals (NYSE:TFPM) Price Target Raised to $20.50

Triple Flag Precious Metals (NYSE:TFPM) had its price target increased by Scotiabank from $19.00 to $20.50 in a research report sent to investors on Thursday morning, MarketBeat.com reports. Scotiabank currently has a sector outperform rating on the stock.

A number of other analysts also recently weighed in on the company. Bank of America lifted their price target on Triple Flag Precious Metals from $16.25 to $16.50 and gave the company a buy rating in a research note on Monday, March 18th. Jefferies Financial Group lifted their price target on Triple Flag Precious Metals from $14.00 to $18.00 and gave the company a buy rating in a research note on Monday, April 22nd. Four analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Triple Flag Precious Metals currently has a consensus rating of Buy and an average target price of $20.50.

Triple Flag Precious Metals Trading Up 3.4 %

Shares of TFPM stock opened at $17.71 on Thursday. The business’s 50 day moving average is $15.70 and its two-hundred day moving average is $13.91. Triple Flag Precious Metals has a twelve month low of $11.75 and a twelve month high of $17.85. The company has a market capitalization of $3.56 billion, a P/E ratio of 93.21, a price-to-earnings-growth ratio of 0.81 and a beta of -0.12. The company has a current ratio of 4.40, a quick ratio of 4.40 and a debt-to-equity ratio of 0.03.

Triple Flag Precious Metals (NYSE:TFPM) last announced its earnings results on Tuesday, May 7th. The company reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.01. Triple Flag Precious Metals had a return on equity of 4.17% and a net margin of 17.59%. The company had revenue of $57.53 million for the quarter. Equities analysts forecast that Triple Flag Precious Metals will post 0.48 EPS for the current year.

Triple Flag Precious Metals Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 31st will be issued a dividend of $0.052 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.21 annualized dividend and a yield of 1.17%. Triple Flag Precious Metals’s dividend payout ratio is presently 110.53%.

Hedge Funds Weigh In On Triple Flag Precious Metals

Several hedge funds and other institutional investors have recently bought and sold shares of TFPM. Orion Portfolio Solutions LLC raised its holdings in Triple Flag Precious Metals by 24.9% during the third quarter. Orion Portfolio Solutions LLC now owns 15,187 shares of the company’s stock worth $198,000 after purchasing an additional 3,026 shares during the last quarter. Euro Pacific Asset Management LLC raised its holdings in shares of Triple Flag Precious Metals by 19.5% in the third quarter. Euro Pacific Asset Management LLC now owns 409,635 shares of the company’s stock worth $5,353,000 after acquiring an additional 66,944 shares during the last quarter. Meixler Investment Management Ltd. raised its holdings in shares of Triple Flag Precious Metals by 10.6% in the third quarter. Meixler Investment Management Ltd. now owns 13,450 shares of the company’s stock worth $176,000 after acquiring an additional 1,287 shares during the last quarter. Barclays PLC raised its holdings in shares of Triple Flag Precious Metals by 0.7% in the third quarter. Barclays PLC now owns 123,003 shares of the company’s stock worth $1,608,000 after acquiring an additional 907 shares during the last quarter. Finally, Montrusco Bolton Investments Inc. acquired a new position in shares of Triple Flag Precious Metals in the third quarter worth $7,219,000. 82.91% of the stock is 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.