Scotiabank Forecasts Strong Price Appreciation for Triple Flag Precious Metals (NYSE:TFPM) Stock

Triple Flag Precious Metals (NYSE:TFPM) had its price objective hoisted by equities researchers at Scotiabank from $21.00 to $23.00 in a research note issued on Monday,Benzinga reports. The firm currently has a “sector outperform” rating on the stock. Scotiabank’s price target suggests a potential upside of 6.32% from the company’s previous close.

Separately, Raymond James reiterated an “outperform” rating on shares of Triple Flag Precious Metals in a research note on Friday, April 4th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Triple Flag Precious Metals presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.00.

Triple Flag Precious Metals Price Performance

Triple Flag Precious Metals stock opened at $21.63 on Monday. The stock has a market capitalization of $4.34 billion, a PE ratio of -196.65, a price-to-earnings-growth ratio of 0.78 and a beta of -0.25. The business has a 50 day simple moving average of $18.38 and a 200-day simple moving average of $17.03. Triple Flag Precious Metals has a 12 month low of $13.94 and a 12 month high of $21.90.

Triple Flag Precious Metals (NYSE:TFPM) last posted its quarterly earnings data on Wednesday, February 19th. The company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $74.21 million during the quarter, compared to analysts’ expectations of $74.10 million. On average, equities research analysts anticipate that Triple Flag Precious Metals will post 0.71 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Orion Portfolio Solutions LLC increased its holdings in shares of Triple Flag Precious Metals by 103.4% in the third quarter. Orion Portfolio Solutions LLC now owns 46,902 shares of the company’s stock valued at $759,000 after purchasing an additional 23,840 shares during the last quarter. Geode Capital Management LLC grew its holdings in Triple Flag Precious Metals by 148.3% in the 3rd quarter. Geode Capital Management LLC now owns 64,744 shares of the company’s stock valued at $1,235,000 after buying an additional 38,673 shares in the last quarter. Perfromance Wealth Partners LLC increased its stake in shares of Triple Flag Precious Metals by 69.6% in the 4th quarter. Perfromance Wealth Partners LLC now owns 68,304 shares of the company’s stock worth $1,027,000 after acquiring an additional 28,026 shares during the last quarter. Jane Street Group LLC raised its holdings in shares of Triple Flag Precious Metals by 111.8% during the 3rd quarter. Jane Street Group LLC now owns 203,272 shares of the company’s stock worth $3,291,000 after acquiring an additional 107,312 shares during the period. Finally, Barclays PLC boosted its position in shares of Triple Flag Precious Metals by 21.5% during the 3rd quarter. Barclays PLC now owns 142,444 shares of the company’s stock valued at $2,304,000 after acquiring an additional 25,220 shares during the last quarter. 82.91% of the stock is owned by hedge funds and other institutional investors.

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.