Triple Flag stock downgraded by BMO despite price target increase
Investing.com - BMO Capital downgraded Triple Flag Precious Metals Corp (NYSE:TFPM) stock rating to Market Perform from Outperform on Monday, while raising its price target to C$35.00 from C$33.00. According to InvestingPro analysis, the company currently appears overvalued based on its Fair Value assessment.
The downgrade follows a period of strong price performance for Triple Flag shares, which have gained approximately 60% in 2025, according to BMO Capital analyst notes. This remarkable rally has pushed the company’s P/E ratio to 38.5x, significantly above the industry average.
BMO Capital indicated that while it continues to see growth in production for Triple Flag in the medium to long term, its near-term estimates show a decrease in production.
The research firm also noted that Triple Flag shares are now trading at a premium on net asset value (NAV) relative to other mid-cap royalty peers.
The rating change comes as part of BMO Capital’s quarterly commodity update, which resulted in the increased price target despite the downgrade from Outperform to Market Perform.
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