Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Triple Flag Precious Metals Corp. (NYSE:TFPM – Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 978,400 shares of the company’s stock, valued at approximately $29,283,000. Connor Clark & Lunn Investment Management Ltd. owned 0.47% of Triple Flag Precious Metals at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings of TFPM. Vanguard Group Inc. lifted its position in shares of Triple Flag Precious Metals by 82.2% during the 4th quarter. Vanguard Group Inc. now owns 1,691,194 shares of the company’s stock valued at $56,198,000 after acquiring an additional 762,826 shares during the period. Dimensional Fund Advisors LP increased its stake in Triple Flag Precious Metals by 8.7% in the first quarter. Dimensional Fund Advisors LP now owns 598,967 shares of the company’s stock valued at $20,787,000 after purchasing an additional 48,144 shares in the last quarter. Intact Investment Management Inc. raised its holdings in shares of Triple Flag Precious Metals by 107.7% during the fourth quarter. Intact Investment Management Inc. now owns 108,000 shares of the company’s stock valued at $3,589,000 after purchasing an additional 56,000 shares during the period. Lummis Asset Management LP boosted its position in shares of Triple Flag Precious Metals by 33.7% during the 4th quarter. Lummis Asset Management LP now owns 131,421 shares of the company’s stock worth $4,366,000 after purchasing an additional 33,115 shares in the last quarter. Finally, TD Asset Management Inc grew its stake in shares of Triple Flag Precious Metals by 9.4% in the 4th quarter. TD Asset Management Inc now owns 734,670 shares of the company’s stock valued at $24,445,000 after buying an additional 63,128 shares during the period. 82.91% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of research analysts recently weighed in on the company. Weiss Ratings downgraded Triple Flag Precious Metals from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, June 12th. Wall Street Zen cut Triple Flag Precious Metals from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. BMO Capital Markets reissued a “market perform” rating on shares of Triple Flag Precious Metals in a research report on Friday, June 12th. Canaccord Genuity Group upgraded shares of Triple Flag Precious Metals from a “hold” rating to a “buy” rating in a research note on Friday, June 12th. Finally, Zacks Research upgraded shares of Triple Flag Precious Metals from a “strong sell” rating to a “hold” rating in a report on Monday, August 10th. Six investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $38.67.
Triple Flag Precious Metals Stock Up 2.8%
Shares of NYSE TFPM opened at $34.73 on Tuesday. Triple Flag Precious Metals Corp. has a twelve month low of $26.00 and a twelve month high of $41.70. The stock’s 50 day moving average price is $29.99 and its 200-day moving average price is $32.72. The company has a market capitalization of $7.15 billion, a PE ratio of 17.45, a PEG ratio of 2.99 and a beta of -0.17.
Triple Flag Precious Metals (NYSE:TFPM – Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.06. The business had revenue of $129.20 million for the quarter, compared to analysts’ expectations of $129.20 million. Triple Flag Precious Metals had a return on equity of 14.09% and a net margin of 84.32%. As a group, research analysts expect that Triple Flag Precious Metals Corp. will post 1.43 EPS for the current fiscal year.
Triple Flag Precious Metals Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be paid a $0.06 dividend. The ex-dividend date is Monday, August 31st. This is a boost from Triple Flag Precious Metals’s previous quarterly dividend of $0.06. This represents a $0.24 annualized dividend and a dividend yield of 0.7%. Triple Flag Precious Metals’s dividend payout ratio is presently 11.56%.
Triple Flag Precious Metals Company Profile
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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