Triple Flag Precious Metals (NYSE:TFPM) PT Raised to $21.00

Triple Flag Precious Metals (NYSE:TFPM) had its target price raised by investment analysts at Scotiabank from $20.00 to $21.00 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 would suggest a potential upside of 28.60% from the stock’s current price.

A number of other research firms have also recently commented on TFPM. Royal Bank of Canada restated a “sector perform” rating and set a $19.00 price target (up from $15.00) on shares of Triple Flag Precious Metals in a research note on Wednesday, May 29th. Bank of America increased their price objective on Triple Flag Precious Metals from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, May 28th. Finally, Jefferies Financial Group increased their price objective on Triple Flag Precious Metals from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Friday, July 12th. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $21.25.

Triple Flag Precious Metals Stock Up 0.6 %

NYSE:TFPM opened at $16.33 on Monday. The company has a quick ratio of 5.59, a current ratio of 5.80 and a debt-to-equity ratio of 0.01. The stock’s fifty day moving average is $15.54 and its two-hundred day moving average is $15.07. Triple Flag Precious Metals has a 52 week low of $11.75 and a 52 week high of $18.08. The stock has a market capitalization of $3.29 billion, a price-to-earnings ratio of 85.95, a price-to-earnings-growth ratio of 0.93 and a beta of -0.14.

Institutional Trading of Triple Flag Precious Metals

A number of hedge funds and other institutional investors have recently bought and sold shares of TFPM. Sunbelt Securities Inc. raised its stake in Triple Flag Precious Metals by 112.7% in the first quarter. Sunbelt Securities Inc. now owns 7,604 shares of the company’s stock valued at $110,000 after buying an additional 4,029 shares in the last quarter. Versor Investments LP acquired a new stake in Triple Flag Precious Metals in the second quarter valued at $160,000. 1832 Asset Management L.P. acquired a new stake in Triple Flag Precious Metals in the second quarter valued at $165,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Triple Flag Precious Metals by 51.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,125 shares of the company’s stock valued at $175,000 after buying an additional 4,475 shares in the last quarter. Finally, CIBC Asset Management Inc acquired a new stake in Triple Flag Precious Metals in the second quarter valued at $179,000. 82.91% of the stock is currently owned by institutional investors and hedge funds.

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.