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

Triple Flag Precious Metals (NYSE:TFPM - Get Free Report) had its price objective hoisted by equities researchers at Scotiabank from $21.00 to $23.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has a "sector outperform" rating on the stock. Scotiabank's price target points to a potential upside of 4.83% from the stock's current price.

Separately, Raymond James restated an "outperform" rating on shares of Triple Flag Precious Metals in a report on Friday, April 4th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $21.00.

Triple Flag Precious Metals Trading Down 0.5 %

TFPM stock traded down $0.12 during mid-day trading on Monday, reaching $21.94. The company's stock had a trading volume of 402,784 shares, compared to its average volume of 278,124. The company's 50 day moving average is $18.70 and its two-hundred day moving average is $17.14. Triple Flag Precious Metals has a fifty-two week low of $13.94 and a fifty-two week high of $22.46. The stock has a market cap of $4.41 billion, a PE ratio of -199.46, a P/E/G ratio of 0.78 and a beta of -0.25.

Triple Flag Precious Metals (NYSE:TFPM - Get Free Report) last issued its earnings results on Wednesday, February 19th. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $74.21 million during the quarter, compared to analysts' expectations of $74.10 million. On average, analysts forecast that Triple Flag Precious Metals will post 0.71 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Triple Flag Precious Metals

Hedge funds and other institutional investors have recently modified their holdings of the company. Tidal Investments LLC raised its stake in Triple Flag Precious Metals by 221.9% in the fourth quarter. Tidal Investments LLC now owns 1,717,347 shares of the company's stock valued at $25,829,000 after buying an additional 1,183,827 shares in the last quarter. Norges Bank acquired a new stake in shares of Triple Flag Precious Metals during the 4th quarter worth about $15,696,000. Arrowstreet Capital Limited Partnership lifted its stake in Triple Flag Precious Metals by 377.2% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 908,888 shares of the company's stock worth $13,652,000 after purchasing an additional 718,408 shares during the last quarter. Amundi acquired a new position in Triple Flag Precious Metals in the fourth quarter valued at approximately $8,281,000. Finally, Millennium Management LLC increased its stake in Triple Flag Precious Metals by 104.6% in the fourth 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 last quarter. 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.