Scotiabank Boosts Triple Flag Precious Metals (NYSE:TFPM) Price Target to $21.00

Triple Flag Precious Metals (NYSE:TFPM) had its price target boosted by research analysts at Scotiabank from $20.00 to $21.00 in a report released on Monday, Benzinga reports. The brokerage presently has a “sector outperform” rating on the stock. Scotiabank’s price target indicates a potential upside of 28.60% from the company’s previous close.

TFPM has been the subject of a number of other reports. Jefferies Financial Group raised their price target on shares of Triple Flag Precious Metals from $19.00 to $20.00 and gave the company a “buy” rating in a report on Friday, July 12th. Bank of America raised their price target on shares of Triple Flag Precious Metals from $18.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, May 28th. Finally, Royal Bank of Canada reaffirmed 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. One analyst has rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Triple Flag Precious Metals currently has an average rating of “Moderate Buy” and a consensus target price of $21.25.

Triple Flag Precious Metals Price Performance

Triple Flag Precious Metals stock opened at $16.33 on Monday. Triple Flag Precious Metals has a 52-week low of $11.75 and a 52-week high of $18.08. The firm has a fifty day moving average of $15.54 and a 200-day moving average of $15.07. The firm has a market capitalization of $3.29 billion, a P/E ratio of 85.95, a PEG ratio of 0.93 and a beta of -0.14. The company has a quick ratio of 5.59, a current ratio of 5.80 and a debt-to-equity ratio of 0.01.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Lummis Asset Management LP lifted its position in shares of Triple Flag Precious Metals by 1,756.8% in the 2nd quarter. Lummis Asset Management LP now owns 47,887 shares of the company’s stock worth $742,000 after buying an additional 45,308 shares during the last quarter. Magnetar Financial LLC bought a new position in shares of Triple Flag Precious Metals in the 2nd quarter worth about $228,000. 1832 Asset Management L.P. bought a new position in shares of Triple Flag Precious Metals in the 2nd quarter worth about $165,000. Goehring & Rozencwajg Associates LLC lifted its position in shares of Triple Flag Precious Metals by 9.9% in the 2nd quarter. Goehring & Rozencwajg Associates LLC now owns 100,771 shares of the company’s stock worth $1,563,000 after buying an additional 9,100 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Triple Flag Precious Metals by 37.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 361,459 shares of the company’s stock worth $5,602,000 after buying an additional 97,630 shares during the last quarter. 82.91% of the stock is 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.