RBC Capital Downgrades Triple Flag Precious Metals Corp. to Sector Perform, ‘shares now trade at a premium vs. peers’

RBC Capital analysts downgraded Triple Flag Precious Metals Corp. (TFPM) from Outperform to Sector Perform with a price target of $19.00 (from $15.00).

The analysts comment “Growth upside has been deferred for TFPM over time, while shares now trade at a premium vs. peers. RBC forecasts are -16% TFPM’s 5Y production targets and -11% consensus, reflecting operator updates, Cerro Lindo’s step-down, and general project risks. We revise our recommendation to Sector Perform (from Outperform). Our target price increases to $19, following updated commodity pricing.”