Triple Flag Precious Metals (NYSE:TFPM) Cut to Hold at Wall Street Zen

Triple Flag Precious Metals (NYSE:TFPM) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Friday.

TFPM has been the subject of several other research reports. CIBC reaffirmed an “outperform” rating on shares of Triple Flag Precious Metals in a research note on Tuesday, July 15th. Royal Bank Of Canada increased their price target on shares of Triple Flag Precious Metals from $19.00 to $23.00 and gave the company a “sector perform” rating in a research report on Wednesday, June 4th. TD Securities restated a “buy” rating on shares of Triple Flag Precious Metals in a research report on Tuesday, June 24th. BMO Capital Markets lowered Triple Flag Precious Metals from an “outperform” rating to a “market perform” rating in a research note on Wednesday, June 25th. Finally, Raymond James Financial reiterated an “outperform” rating on shares of Triple Flag Precious Metals in a report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $24.00.

Triple Flag Precious Metals Stock Up 4.8%

Shares of NYSE TFPM opened at $28.25 on Friday. The stock has a market capitalization of $5.83 billion, a price-to-earnings ratio of 32.84, a price-to-earnings-growth ratio of 1.19 and a beta of -0.19. Triple Flag Precious Metals has a 52 week low of $14.51 and a 52 week high of $28.49. The firm has a 50-day moving average price of $24.92 and a 200 day moving average price of $22.15.

Triple Flag Precious Metals (NYSE:TFPM) last issued its earnings results on Wednesday, August 6th. The company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.03. Triple Flag Precious Metals had a net margin of 53.11% and a return on equity of 8.81%. The company had revenue of $94.09 million for the quarter, compared to analyst estimates of $82.76 million. Equities research analysts expect that Triple Flag Precious Metals will post 0.71 EPS for the current fiscal year.

Institutional Trading of Triple Flag Precious Metals

A number of institutional investors and hedge funds have recently made changes to their positions in TFPM. Russell Investments Group Ltd. increased its position in Triple Flag Precious Metals by 2.5% during the 1st quarter. Russell Investments Group Ltd. now owns 28,561 shares of the company’s stock worth $546,000 after purchasing an additional 703 shares in the last quarter. Principal Street Partners LLC grew its position in Triple Flag Precious Metals by 4.2% in the fourth quarter. Principal Street Partners LLC now owns 24,755 shares of the company’s stock valued at $372,000 after acquiring an additional 1,001 shares in the last quarter. Mackenzie Financial Corp boosted its stake in shares of Triple Flag Precious Metals by 3.5% in the fourth quarter. Mackenzie Financial Corp now owns 32,577 shares of the company’s stock valued at $489,000 after purchasing an additional 1,101 shares during the period. Employees Retirement System of Texas acquired a new stake in Triple Flag Precious Metals during the 2nd quarter valued at $36,000. Finally, SVB Wealth LLC purchased a new stake in Triple Flag Precious Metals during the 1st quarter worth $34,000. 82.91% of the stock is currently 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.