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

Triple Flag Precious Metals (NYSE:TFPM) had its price target lowered by Scotiabank from $35.00 to $34.00 in a report published on Friday,Benzinga reports. The brokerage currently has a sector perform rating on the stock.

A number of other research analysts have also recently issued reports on the stock. Bank of America boosted their price objective on shares of 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 raised shares of Triple Flag Precious Metals from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 25th. Canaccord Genuity Group lowered shares of Triple Flag Precious Metals from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 2nd. CIBC reaffirmed an “outperform” rating on shares of Triple Flag Precious Metals in a research note on Tuesday, July 15th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Triple Flag Precious Metals in a report on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $30.00.

Triple Flag Precious Metals Trading Up 2.8%

Shares of Triple Flag Precious Metals stock traded up $0.78 during trading on Friday, reaching $28.50. 488,459 shares of the company were exchanged, compared to its average volume of 595,278. Triple Flag Precious Metals has a twelve month low of $14.51 and a twelve month high of $33.51. The business has a 50-day moving average price of $28.95 and a 200-day moving average price of $25.36. The company has a quick ratio of 4.15, a current ratio of 1.68 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $5.89 billion, a price-to-earnings ratio of 28.22, a P/E/G ratio of 0.87 and a beta of -0.18.

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

Triple Flag Precious Metals Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be issued a dividend of $0.0575 per share. This represents a $0.23 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Monday, December 1st. Triple Flag Precious Metals’s dividend payout ratio is 22.77%.

Institutional Trading of Triple Flag Precious Metals

Institutional investors have recently modified their holdings of the company. Bessemer Group Inc. bought a new position in shares of Triple Flag Precious Metals during the third quarter worth about $27,000. SBI Securities Co. Ltd. boosted its position in Triple Flag Precious Metals by 100.6% during 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. Employees Retirement System of Texas acquired a new position in Triple Flag Precious Metals during the 2nd quarter worth approximately $36,000. SVB Wealth LLC bought a new position in shares of Triple Flag Precious Metals during the 1st quarter worth approximately $34,000. Finally, ORG Wealth Partners LLC bought a new position in shares of Triple Flag Precious Metals during the 2nd quarter worth approximately $97,000. 82.91% of the stock is currently 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.