Triple Flag Precious Metals (NYSE:TFPM) Price Target Increased to $21.00 by Analysts at Scotiabank

Triple Flag Precious Metals (NYSE:TFPM) had its price target lifted by equities research analysts at Scotiabank from $20.00 to $21.00 in a note issued to investors on Monday, Benzinga reports. The firm presently has a “sector outperform” rating on the stock. Scotiabank’s price objective points to a potential upside of 29.55% from the company’s previous close.

A number of other equities research analysts have also issued reports on the stock. Bank of America raised their price target on shares of Triple Flag Precious Metals from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Tuesday, May 28th. Jefferies Financial Group raised their price target on shares of Triple Flag Precious Metals from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Friday, July 12th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $19.00 price target (up previously from $15.00) on shares of Triple Flag Precious Metals in a report on Wednesday, May 29th. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $21.25.

Triple Flag Precious Metals Stock Performance

TFPM traded up $0.13 during midday trading on Monday, reaching $16.21. The company had a trading volume of 94,768 shares, compared to its average volume of 204,583. The stock has a market cap of $3.26 billion, a PE ratio of 85.32, a P/E/G ratio of 0.93 and a beta of -0.14. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.59 and a current ratio of 5.80. The business has a 50-day moving average price of $15.51 and a two-hundred day moving average price of $15.03. Triple Flag Precious Metals has a 12-month low of $11.75 and a 12-month high of $18.08.

Institutional Trading of Triple Flag Precious Metals

A number of institutional investors have recently modified their holdings of the company. Sunbelt Securities Inc. boosted its stake in Triple Flag Precious Metals by 112.7% during the 1st quarter. Sunbelt Securities Inc. now owns 7,604 shares of the company’s stock worth $110,000 after purchasing an additional 4,029 shares during the last quarter. Versor Investments LP acquired a new position in Triple Flag Precious Metals in the second quarter valued at about $160,000. 1832 Asset Management L.P. acquired a new position in Triple Flag Precious Metals in the second quarter valued at about $165,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Triple Flag Precious Metals by 51.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,125 shares of the company’s stock worth $175,000 after purchasing an additional 4,475 shares during the period. Finally, CIBC Asset Management Inc purchased a new stake in shares of Triple Flag Precious Metals during the second quarter worth approximately $179,000. 82.91% of the stock is currently owned by institutional investors.

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.