Triple Flag Precious Metals (NYSE:TFPM) Sees Strong Trading Volume

Triple Flag Precious Metals Corp. (NYSE:TFPM) saw unusually-strong trading volume on Tuesday . Approximately 395,727 shares changed hands during mid-day trading, an increase of 108% from the previous session’s volume of 190,042 shares.The stock last traded at $15.40 and had previously closed at $15.08.

Analyst Ratings Changes

TFPM has been the subject of a number of analyst reports. Royal Bank of Canada restated a “sector perform” rating and issued a $19.00 price target (up previously from $15.00) on shares of Triple Flag Precious Metals in a report on Wednesday, May 29th. Jefferies Financial Group boosted their price objective on shares of Triple Flag Precious Metals from $14.00 to $18.00 and gave the stock a “buy” rating in a report on Monday, April 22nd. Scotiabank raised their target price on Triple Flag Precious Metals from $19.00 to $20.50 and gave the company a “sector outperform” rating in a research note on Thursday, May 23rd. Finally, Bank of America increased their price target on Triple Flag Precious Metals from $18.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, May 28th. One analyst has rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Triple Flag Precious Metals currently has a consensus rating of “Moderate Buy” and an average target price of $20.83.

Triple Flag Precious Metals Price Performance

The company has a debt-to-equity ratio of 0.03, a quick ratio of 4.40 and a current ratio of 4.40. The company’s fifty day moving average price is $16.22 and its 200 day moving average price is $14.27. The firm has a market capitalization of $3.11 billion, a price-to-earnings ratio of 79.37, a price-to-earnings-growth ratio of 0.96 and a beta of -0.11.

Triple Flag Precious Metals (NYSE:TFPM) last issued its earnings results on Tuesday, May 7th. The company reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.01. The company had revenue of $57.53 million during the quarter. Triple Flag Precious Metals had a return on equity of 4.17% and a net margin of 17.59%. Equities research analysts expect that Triple Flag Precious Metals Corp. will post 0.47 earnings per share for the current year.

Triple Flag Precious Metals Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were given a $0.052 dividend. This represents a $0.21 annualized dividend and a yield of 1.35%. The ex-dividend date of this dividend was Friday, May 31st. Triple Flag Precious Metals’s dividend payout ratio is presently 110.53%.

Institutional Trading of Triple Flag Precious Metals

Several hedge funds have recently bought and sold shares of TFPM. Norges Bank bought a new stake in shares of Triple Flag Precious Metals during the fourth quarter valued at about $14,035,000. Beutel Goodman & Co Ltd. boosted its position in shares of Triple Flag Precious Metals by 45.5% in the 4th quarter. Beutel Goodman & Co Ltd. now owns 2,482,110 shares of the company’s stock valued at $33,205,000 after purchasing an additional 776,130 shares during the period. Cove Street Capital LLC purchased a new position in Triple Flag Precious Metals in the 4th quarter worth about $6,242,000. Tidal Investments LLC acquired a new stake in Triple Flag Precious Metals during the 1st quarter worth about $6,145,000. Finally, Montrusco Bolton Investments Inc. lifted its stake in Triple Flag Precious Metals by 59.5% during the fourth quarter. Montrusco Bolton Investments Inc. now owns 874,961 shares of the company’s stock valued at $11,705,000 after buying an additional 326,357 shares in the last quarter. 82.91% of the stock is currently owned by 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.