Triple Flag Precious Metals (NYSE:TFPM) Sets New 1-Year High – Still a Buy?

Triple Flag Precious Metals Corp. (NYSE:TFPM)’s stock price hit a new 52-week high during trading on Wednesday . The company traded as high as $21.90 and last traded at $21.63, with a volume of 369833 shares changing hands. The stock had previously closed at $21.60.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on TFPM. Raymond James restated an “outperform” rating on shares of Triple Flag Precious Metals in a report on Friday, April 4th. Scotiabank raised their price target on Triple Flag Precious Metals from $21.00 to $23.00 and gave the company a “sector outperform” rating in a research note on Monday. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $21.00.

Triple Flag Precious Metals Stock Up 0.1 %

The company has a market cap of $4.34 billion, a price-to-earnings ratio of -196.65, a PEG ratio of 0.78 and a beta of -0.25. The business’s fifty day simple moving average is $18.38 and its two-hundred day simple moving average is $17.03.

Triple Flag Precious Metals (NYSE:TFPM) last announced its quarterly earnings results on Wednesday, February 19th. The company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.16 by $0.02. Triple Flag Precious Metals had a negative net margin of 8.58% and a positive return on equity of 6.63%. The firm had revenue of $74.21 million for the quarter, compared to analyst estimates of $74.10 million. Sell-side analysts predict that Triple Flag Precious Metals Corp. will post 0.71 EPS for the current fiscal year.

Triple Flag Precious Metals Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, March 3rd were given a $0.055 dividend. The ex-dividend date was Monday, March 3rd. This represents a $0.22 annualized dividend and a yield of 1.02%. Triple Flag Precious Metals’s dividend payout ratio (DPR) is -200.00%.

Hedge Funds Weigh In On Triple Flag Precious Metals

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Farther Finance Advisors LLC raised its stake in shares of Triple Flag Precious Metals by 175.6% during the fourth quarter. Farther Finance Advisors LLC now owns 1,896 shares of the company’s stock worth $29,000 after purchasing an additional 1,208 shares during the last quarter. Northwest & Ethical Investments L.P. acquired a new stake in shares of Triple Flag Precious Metals in the 4th quarter worth $45,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Triple Flag Precious Metals in the fourth quarter valued at about $134,000. Drive Wealth Management LLC purchased a new position in Triple Flag Precious Metals during the fourth quarter worth about $175,000. Finally, XTX Topco Ltd acquired a new stake in Triple Flag Precious Metals in the third quarter valued at about $220,000. Hedge funds and other institutional investors own 82.91% of the company’s stock.

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.