U S Global Investors Inc. raised its position in Triple Flag Precious Metals Corp. (NYSE:TFPM – Free Report) by 47.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 253,667 shares of the company’s stock after purchasing an additional 81,667 shares during the period. U S Global Investors Inc.’s holdings in Triple Flag Precious Metals were worth $7,815,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. Legal & General Group Plc acquired a new position in shares of Triple Flag Precious Metals in the second quarter valued at approximately $1,918,000. Tidal Investments LLC grew its stake in shares of Triple Flag Precious Metals by 15.8% in the second quarter. Tidal Investments LLC now owns 2,949,715 shares of the company’s stock valued at $88,403,000 after buying an additional 402,924 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Triple Flag Precious Metals by 8.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 598,967 shares of the company’s stock worth $20,787,000 after buying an additional 48,144 shares during the period. Jefferies Financial Group Inc. purchased a new position in shares of Triple Flag Precious Metals during the 2nd quarter valued at approximately $3,572,000. Finally, Deutsche Bank AG acquired a new stake in Triple Flag Precious Metals in the second quarter valued at $12,322,000. 82.91% of the stock is owned by institutional investors and hedge funds.
Triple Flag Precious Metals Price Performance
Shares of TFPM opened at $29.36 on Friday. The business’s fifty day moving average price is $32.26 and its 200 day moving average price is $31.53. Triple Flag Precious Metals Corp. has a 12-month low of $26.61 and a 12-month high of $41.70. The stock has a market capitalization of $6.04 billion, a PE ratio of 14.75, a price-to-earnings-growth ratio of 3.27 and a beta of -0.13.
Triple Flag Precious Metals (NYSE:TFPM – Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.06. Triple Flag Precious Metals had a net margin of 84.32% and a return on equity of 14.09%. The firm had revenue of $129.20 million during the quarter, compared to the consensus estimate of $129.20 million. As a group, research analysts anticipate that Triple Flag Precious Metals Corp. will post 1.33 earnings per share for the current fiscal year.
Triple Flag Precious Metals Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st were given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Monday, August 31st. This is an increase from Triple Flag Precious Metals’s previous quarterly dividend of $0.0575. Triple Flag Precious Metals’s payout ratio is 12.06%.
Wall Street Analyst Weigh In
A number of research analysts have commented on TFPM shares. Wall Street Zen downgraded shares of Triple Flag Precious Metals from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Royal Bank Of Canada upped their target price on shares of Triple Flag Precious Metals from $40.00 to $41.00 and gave the company a “sector perform” rating in a research note on Wednesday, September 16th. Weiss Ratings raised shares of Triple Flag Precious Metals from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, October 14th. Scotiabank reduced their price target on shares of Triple Flag Precious Metals from $43.00 to $39.00 and set a “sector perform” rating on the stock in a research report on Tuesday, July 14th. Finally, Jefferies Financial Group decreased their price target on Triple Flag Precious Metals from $43.00 to $40.00 and set a “buy” rating for the company in a research note on Monday, July 6th. Five research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $39.25.
Check Out Our Latest Analysis on Triple Flag Precious Metals
Triple Flag Precious Metals Company Profile
Triple Flag Precious Metals Corp. is a precious metals streaming and royalty company headquartered in Toronto, Canada. The company provides upfront financing to mining companies in exchange for the right to purchase a portion of future production, typically at predetermined prices. Its agreements are primarily focused on gold and silver, along with other precious metals and related by-products.
Triple Flag does not generally operate mines directly. Instead, it builds a diversified portfolio of streams and royalties linked to producing, developing and exploration-stage assets.
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