Rene Cartier, an analyst from BMO Capital, maintained the Buy rating on Triple Flag Precious Metals (TFPM – Research Report). The associated price target remains the same with C$27.00.
Rene Cartier has given his Buy rating due to a combination of factors influencing Triple Flag Precious Metals. The recent acquisition of silver and gold streams from the Arcata and Azuca mines in Peru is a significant contributor. This transaction is anticipated to yield a strong return, with near-term cash flow potential, while representing a small portion of Triple Flag’s overall operating cash flow. The expected ramp-up in production and the long-term mine life further bolster the investment’s attractiveness.
Additionally, the strategic acquisition aligns with Triple Flag’s portfolio, which is characterized by high-quality, long-life assets in stable jurisdictions. The company’s focus on near-term production and cash flow growth, coupled with an above-average dividend yield, enhances its investment appeal. Despite some challenges related to liquidity and the ramp-up of certain assets, the overall outlook remains positive as visibility on the assets improves and a track record is established.
In another report released today, Scotiabank also maintained a Buy rating on the stock with a $21.00 price target.
Based on the recent corporate insider activity of 39 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of TFPM in relation to earlier this year.