Bank of America Issues Pessimistic Forecast for Triple Flag Precious Metals (NYSE:TFPM) Stock Price

Triple Flag Precious Metals (NYSE:TFPM) had its target price lowered by Bank of America from $39.00 to $37.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Bank of America‘s price target would indicate a potential upside of 33.52% from the stock’s current price.

A number of other equities research analysts have also commented on the stock. Canaccord Genuity Group upgraded shares of Triple Flag Precious Metals from a “hold” rating to a “buy” rating in a report on Friday, June 12th. BMO Capital Markets reaffirmed a “market perform” rating on shares of Triple Flag Precious Metals in a research note on Friday, June 12th. Zacks Research cut Triple Flag Precious Metals from a “strong-buy” rating to a “hold” rating in a report on Thursday, April 9th. Wall Street Zen raised Triple Flag Precious Metals from a “hold” rating to a “buy” rating in a research report on Saturday, June 27th. Finally, Weiss Ratings cut shares of Triple Flag Precious Metals from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, June 12th. Six investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Triple Flag Precious Metals currently has a consensus rating of “Moderate Buy” and an average price target of $40.00.

Triple Flag Precious Metals Trading Down 5.0%

Shares of NYSE:TFPM opened at $27.71 on Thursday. The stock has a market capitalization of $5.73 billion, a P/E ratio of 18.35, a P/E/G ratio of 3.08 and a beta of -0.19. Triple Flag Precious Metals has a 1-year low of $22.60 and a 1-year high of $41.70. The business has a 50-day moving average price of $30.74 and a two-hundred day moving average price of $34.02.

Triple Flag Precious Metals (NYSE:TFPM) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.02. The business had revenue of $147.00 million during the quarter, compared to analysts’ expectations of $147.00 million. Triple Flag Precious Metals had a return on equity of 12.90% and a net margin of 68.68%. As a group, equities analysts predict that Triple Flag Precious Metals will post 1.53 EPS for the current year.

Institutional Trading of Triple Flag Precious Metals

A number of hedge funds have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Triple Flag Precious Metals by 39.9% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,642,566 shares of the company’s stock valued at $77,373,000 after purchasing an additional 753,923 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in shares of Triple Flag Precious Metals by 25.3% in the third quarter. Arrowstreet Capital Limited Partnership now owns 2,628,151 shares of the company’s stock valued at $76,908,000 after buying an additional 530,357 shares during the period. Tidal Investments LLC raised its holdings in Triple Flag Precious Metals by 59.5% in the 3rd quarter. Tidal Investments LLC now owns 2,396,198 shares of the company’s stock valued at $70,113,000 after buying an additional 893,566 shares during the last quarter. Vanguard Group Inc. boosted its position in Triple Flag Precious Metals by 82.2% during the 4th quarter. Vanguard Group Inc. now owns 1,691,194 shares of the company’s stock worth $56,198,000 after buying an additional 762,826 shares during the period. Finally, Norges Bank acquired a new stake in Triple Flag Precious Metals during the 4th quarter worth approximately $49,550,000. Institutional investors and hedge funds own 82.91% of the company’s stock.

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.