Triple Flag Precious Metals (NYSE:TFPM) Price Target Raised to $20.00 at Jefferies Financial Group

Triple Flag Precious Metals (NYSE:TFPM) had its price target boosted by equities researchers at Jefferies Financial Group from $19.00 to $20.00 in a report issued on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Jefferies Financial Group’s target price would indicate a potential upside of 22.55% from the company’s current price.

Several other equities research analysts have also commented on TFPM. Scotiabank increased their price objective on shares of 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. Royal Bank of Canada reiterated a “sector perform” rating and set a $19.00 price target (up from $15.00) on shares of Triple Flag Precious Metals in a report on Wednesday, May 29th. Finally, Bank of America raised their target price on Triple Flag Precious Metals from $18.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, May 28th. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Triple Flag Precious Metals presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.17.

Triple Flag Precious Metals Stock Up 1.7 %

Shares of NYSE:TFPM traded up $0.27 during midday trading on Friday, hitting $16.32. 54,885 shares of the company’s stock were exchanged, compared to its average volume of 200,428. Triple Flag Precious Metals has a 12 month low of $11.75 and a 12 month high of $18.08. The company has a market cap of $3.29 billion, a PE ratio of 85.89, a price-to-earnings-growth ratio of 0.95 and a beta of -0.14. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.40 and a quick ratio of 4.40. The stock has a 50 day moving average price of $16.10 and a 200-day moving average price of $14.51.

Triple Flag Precious Metals (NYSE:TFPM) last issued its quarterly earnings data on Tuesday, May 7th. The company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.01. The firm 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%. On average, sell-side analysts anticipate that Triple Flag Precious Metals will post 0.49 EPS for the current fiscal year.

Institutional Investors Weigh In On Triple Flag Precious Metals

Institutional investors and hedge funds have recently modified their holdings of the company. Van ECK Associates Corp increased its holdings in shares of Triple Flag Precious Metals by 0.9% in the first quarter. Van ECK Associates Corp now owns 3,557,484 shares of the company’s stock worth $51,406,000 after purchasing an additional 30,758 shares during the period. Beutel Goodman & Co Ltd. boosted its position in shares of Triple Flag Precious Metals by 45.5% during the 4th quarter. Beutel Goodman & Co Ltd. now owns 2,482,110 shares of the company’s stock valued at $33,205,000 after acquiring an additional 776,130 shares during the last quarter. Ninety One UK Ltd boosted its position in shares of Triple Flag Precious Metals by 11.4% during the 4th quarter. Ninety One UK Ltd now owns 1,673,299 shares of the company’s stock valued at $22,385,000 after acquiring an additional 171,131 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Triple Flag Precious Metals by 3.8% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,655,144 shares of the company’s stock worth $22,142,000 after purchasing an additional 60,495 shares in the last quarter. Finally, Norges Bank purchased a new stake in Triple Flag Precious Metals in the fourth quarter valued at approximately $14,035,000. 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.