Triple Flag Precious Metals (NYSE:TFPM) Sets New 1-Year High – Here’s Why

Shares of Triple Flag Precious Metals Corp. (NYSE:TFPM) reached a new 52-week high on Thursday . The company traded as high as $20.19 and last traded at $19.86, with a volume of 709778 shares changing hands. The stock had previously closed at $18.35.

Wall Street Analysts Forecast Growth

Separately, Raymond James restated an “outperform” rating on shares of Triple Flag Precious Metals in a research note on Friday, April 4th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.50.

Triple Flag Precious Metals Trading Up 3.8 %

The firm has a 50 day moving average price of $18.19 and a 200 day moving average price of $16.96. The stock has a market capitalization of $4.30 billion, a PE ratio of -194.48, a price-to-earnings-growth ratio of 0.78 and a beta of -0.25.

Triple Flag Precious Metals (NYSE:TFPM) last issued its quarterly earnings results on Wednesday, February 19th. The company reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.02. Triple Flag Precious Metals had a positive return on equity of 6.63% and a negative net margin of 8.58%. The business had revenue of $74.21 million during the quarter, compared to analysts’ expectations of $74.10 million. On average, equities research analysts expect that Triple Flag Precious Metals Corp. will post 0.71 EPS for the current year.

Triple Flag Precious Metals Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, March 3rd were issued a dividend of $0.055 per share. This represents a $0.22 annualized dividend and a yield of 1.03%. The ex-dividend date of this dividend was Monday, March 3rd. Triple Flag Precious Metals’s dividend payout ratio is currently -200.00%.

Institutional Trading of Triple Flag Precious Metals

A number of hedge funds and other institutional investors have recently modified their holdings of TFPM. Tidal Investments LLC boosted its holdings in Triple Flag Precious Metals by 221.9% in the 4th quarter. Tidal Investments LLC now owns 1,717,347 shares of the company’s stock worth $25,829,000 after buying an additional 1,183,827 shares during the period. Norges Bank bought a new position in shares of Triple Flag Precious Metals in the fourth quarter worth about $15,696,000. Arrowstreet Capital Limited Partnership boosted its stake in shares of Triple Flag Precious Metals by 377.2% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 908,888 shares of the company’s stock worth $13,652,000 after acquiring an additional 718,408 shares during the period. Amundi purchased a new stake in shares of Triple Flag Precious Metals during the fourth quarter worth about $8,281,000. Finally, Millennium Management LLC raised its stake in Triple Flag Precious Metals by 104.6% during the 4th quarter. Millennium Management LLC now owns 442,678 shares of the company’s stock valued at $6,650,000 after purchasing an additional 226,330 shares during the period. 82.91% of the stock is owned by hedge funds and other institutional investors.

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.