SCS Capital Management LLC reduced its position in shares of Triple Flag Precious Metals Corp. (NYSE:TFPM – Free Report) by 27.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 166,761 shares of the company’s stock after selling 63,789 shares during the quarter. SCS Capital Management LLC’s holdings in Triple Flag Precious Metals were worth $5,540,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in the stock. PFG Investments LLC grew its stake in shares of Triple Flag Precious Metals by 3.1% during the 4th quarter. PFG Investments LLC now owns 9,149 shares of the company’s stock valued at $304,000 after acquiring an additional 279 shares during the period. Linden Thomas Advisory Services LLC raised its holdings in shares of Triple Flag Precious Metals by 4.2% during the 4th quarter. Linden Thomas Advisory Services LLC now owns 7,253 shares of the company’s stock worth $241,000 after acquiring an additional 290 shares in the last quarter. Public Employees Retirement System of Ohio raised its holdings in shares of Triple Flag Precious Metals by 2.2% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 16,751 shares of the company’s stock worth $491,000 after acquiring an additional 368 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of Triple Flag Precious Metals by 4.2% during the 4th quarter. Blue Trust Inc. now owns 15,163 shares of the company’s stock worth $504,000 after acquiring an additional 609 shares in the last quarter. Finally, Ascent Group LLC raised its holdings in shares of Triple Flag Precious Metals by 2.0% during the 4th quarter. Ascent Group LLC now owns 31,552 shares of the company’s stock worth $1,048,000 after acquiring an additional 624 shares in the last quarter. 82.91% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
TFPM has been the topic of a number of recent analyst reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Triple Flag Precious Metals in a research note on Monday, April 20th. Wall Street Zen raised Triple Flag Precious Metals from a “hold” rating to a “buy” rating in a research report on Sunday, April 26th. Zacks Research downgraded Triple Flag Precious Metals from a “strong-buy” rating to a “hold” rating in a research report on Thursday, April 9th. Finally, Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Triple Flag Precious Metals in a research report on Wednesday, February 4th. Five investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $34.33.
Triple Flag Precious Metals Stock Down 4.0%
Shares of NYSE:TFPM opened at $30.42 on Tuesday. Triple Flag Precious Metals Corp. has a 52-week low of $22.41 and a 52-week high of $41.70. The stock has a market cap of $6.28 billion, a price-to-earnings ratio of 20.14, a PEG ratio of 5.80 and a beta of -0.22. The business has a 50-day moving average price of $33.36 and a 200-day moving average price of $34.57.
Triple Flag Precious Metals (NYSE:TFPM – Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.02. Triple Flag Precious Metals had a return on equity of 12.90% and a net margin of 68.68%.The firm had revenue of $147.00 million during the quarter, compared to analysts’ expectations of $147.00 million. As a group, equities analysts anticipate that Triple Flag Precious Metals Corp. will post 1.43 EPS for the current fiscal year.
Triple Flag Precious Metals Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be given a dividend of $0.0575 per share. This represents a $0.23 annualized dividend and a yield of 0.8%. The ex-dividend date is Monday, June 1st. Triple Flag Precious Metals’s dividend payout ratio (DPR) is currently 15.23%.
About Triple Flag Precious Metals
Triple Flag Precious Metals Corp. is a Toronto-based precious metals streaming and royalty company traded on the New York Stock Exchange under the ticker TFPM. The company specializes in providing upfront financing to mining operators in exchange for the right to purchase a fixed percentage of future gold and silver production at discounted prices. By structuring these streaming and royalty agreements, Triple Flag Precious Metals aims to optimize its capital deployment and maintain a predictable cost profile while benefitting from upside in precious metal prices.
Since its formation in mid-2022, Triple Flag Precious Metals has established a diversified portfolio of streaming and royalty assets across a variety of jurisdictions.
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