Triple Flag Precious Metals (NYSE:TFPM) Issues Earnings Results

Triple Flag Precious Metals (NYSE:TFPM) announced its quarterly earnings results on Wednesday. The company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.06, Zacks reports. The company had revenue of $129.20 million for the quarter, compared to the consensus estimate of $129.20 million. Triple Flag Precious Metals had a net margin of 84.32% and a return on equity of 14.09%.

Triple Flag Precious Metals Trading Up 1.5%

Shares of NYSE TFPM traded up $0.50 on Friday, reaching $32.61. 340,292 shares of the company traded hands, compared to its average volume of 634,822. The stock has a market capitalization of $6.72 billion, a PE ratio of 16.41, a P/E/G ratio of 2.76 and a beta of -0.18. Triple Flag Precious Metals has a fifty-two week low of $24.75 and a fifty-two week high of $41.70. The company has a 50 day moving average of $29.27 and a 200 day moving average of $33.13.

Triple Flag Precious Metals Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be issued a $0.06 dividend. This is a positive change from Triple Flag Precious Metals’s previous quarterly dividend of $0.06. The ex-dividend date is Monday, August 31st. This represents a $0.24 annualized dividend and a yield of 0.7%. Triple Flag Precious Metals’s dividend payout ratio (DPR) is presently 15.23%.

Institutional Investors Weigh In On Triple Flag Precious Metals

Several institutional investors and hedge funds have recently added to or reduced their stakes in TFPM. Quarry LP acquired a new position in shares of Triple Flag Precious Metals in the 3rd quarter valued at about $33,000. Tower Research Capital LLC TRC lifted its position in Triple Flag Precious Metals by 160.0% during 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 in the last quarter. Caitlin John LLC grew its stake in Triple Flag Precious Metals by 11.2% during the fourth quarter. Caitlin John LLC now owns 3,730 shares of the company’s stock worth $124,000 after buying an additional 375 shares during the period. Northwest & Ethical Investments L.P. increased its position in shares of Triple Flag Precious Metals by 54.8% in the fourth quarter. Northwest & Ethical Investments L.P. now owns 4,009 shares of the company’s stock worth $133,000 after acquiring an additional 1,420 shares in the last quarter. Finally, Osaic Holdings Inc. raised its stake in shares of Triple Flag Precious Metals by 4,954.7% in the 2nd quarter. Osaic Holdings Inc. now owns 5,914 shares of the company’s stock valued at $140,000 after acquiring an additional 5,797 shares during the period. 82.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on TFPM. Scotiabank reduced their target price on Triple Flag Precious Metals from $43.00 to $39.00 and set a “sector perform” rating on the stock in a research note on Tuesday, July 14th. Canaccord Genuity Group raised Triple Flag Precious Metals from a “hold” rating to a “buy” rating in a report on Friday, June 12th. BMO Capital Markets restated a “market perform” rating on shares of Triple Flag Precious Metals in a research report on Friday, June 12th. Jefferies Financial Group decreased their price objective on Triple Flag Precious Metals from $43.00 to $40.00 and set a “buy” rating on the stock in a research note on Monday, July 6th. Finally, Wall Street Zen cut Triple Flag Precious Metals from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Six analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Triple Flag Precious Metals presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.67.

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.