Triple Flag Precious Metals (NYSE:TFPM) Hits New 1-Year High - Here's What Happened

Shares of Triple Flag Precious Metals Corp. (NYSE:TFPM - Get Free Report) hit 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 trading hands. The stock had previously closed at $18.35.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on TFPM. Raymond James reissued an "outperform" rating on shares of Triple Flag Precious Metals in a research report on Friday, April 4th. Scotiabank increased their target price on shares of Triple Flag Precious Metals from $21.00 to $23.00 and gave the stock a "sector outperform" rating in a research note on Monday. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $21.00.

Triple Flag Precious Metals Price Performance

The stock has a 50 day moving average price of $18.28 and a 200-day moving average price of $17.00. The stock has a market capitalization of $4.36 billion, a price-to-earnings ratio of -197.05, a price-to-earnings-growth ratio of 0.78 and a beta of -0.25.

Triple Flag Precious Metals (NYSE:TFPM - Get Free Report) last released its earnings results 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 business had revenue of $74.21 million for the quarter, compared to analyst estimates of $74.10 million. As a group, research analysts forecast that Triple Flag Precious Metals Corp. will post 0.71 earnings per share 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. Stockholders of record on Monday, March 3rd were paid a $0.055 dividend. The ex-dividend date was Monday, March 3rd. This represents a $0.22 annualized dividend and a dividend yield of 1.01%. Triple Flag Precious Metals's dividend payout ratio (DPR) is -200.00%.

Institutional Investors Weigh In On Triple Flag Precious Metals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TFPM. Farther Finance Advisors LLC boosted its position in shares of Triple Flag Precious Metals by 175.6% during the 4th quarter. Farther Finance Advisors LLC now owns 1,896 shares of the company's stock worth $29,000 after purchasing an additional 1,208 shares during the period. Northwest & Ethical Investments L.P. acquired a new position in Triple Flag Precious Metals during the 4th quarter worth approximately $45,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Triple Flag Precious Metals during the 4th quarter worth $134,000. Drive Wealth Management LLC acquired a new position in shares of Triple Flag Precious Metals during the 4th quarter worth about $175,000. Finally, XTX Topco Ltd purchased a new position in Triple Flag Precious Metals in the third quarter valued at approximately $220,000. Hedge funds and other institutional investors own 82.91% of the company's stock.

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.