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Bank of America Securities Remains a Buy on Triple Flag Precious Metals (TFPM)

Tipranks - Tue Jun 16, 5:00AM CDT

In a report released yesterday, Lawson Winder from Bank of America Securities reiterated a Buy rating on Triple Flag Precious Metals, with a price target of $39.00.

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Winder covers the Basic Materials sector, focusing on stocks such as Pan American Silver, Triple Flag Precious Metals, and Newmont Mining. According to TipRanks, Winder has an average return of 15.6% and a 54.58% success rate on recommended stocks.

In addition to Bank of America Securities, Triple Flag Precious Metals also received a Buy from Canaccord Genuity’s Carey MacRury in a report issued on June 11. However, on the same day, BMO Capital maintained a Hold rating on Triple Flag Precious Metals (TSX: TFPM).

Based on Triple Flag Precious Metals’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of C$144.58 million and a net profit of C$115.01 million. In comparison, last year the company earned a revenue of C$82.25 million and had a net profit of C$45.52 million

Based on the recent corporate insider activity of 9 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.

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