Stifel Canada on Thursday reiterated its buy rating on the shares of Triple Flag Precious Metals (TFPM.TO, TFPM) and its C$58.00 price target following the royalty company's third-quarter results.
"Impact: Neutral/small positive on strong Q3 after pre-reporting GEOs. We view this quarter to be incrementally positive for another year of consistently achieving GEO expectations as TFPM looks to be well positioned to aim for the upper half of GEO guidance. TFPM has deployed over $350M in acquisitions YTD, underscoring its active deal pipeline. TF has ~$1bn in available liquidity (representing ~18% of its market capitalization) as the company maintains a consistent pace of royalty/streaming deal origination. Intermediate royalty/streamingco have been narrowing valuation-gap relative to senior peers, as this group maintains good momentum on cash flow generation and growth outlook," analyst Ingrid Rico wrote.
(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)
Price: 39.61, Change: +0.32, Percent Change: +0.81