Penserra Capital Management LLC Sells 29,811 Shares of Triple Flag Precious Metals Corp. $TFPM

Penserra Capital Management LLC cut its stake in shares of Triple Flag Precious Metals Corp. (NYSE:TFPM) by 45.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 35,481 shares of the company’s stock after selling 29,811 shares during the quarter. Penserra Capital Management LLC’s holdings in Triple Flag Precious Metals were worth $1,038,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of TFPM. Merit Financial Group LLC grew its stake in Triple Flag Precious Metals by 10.4% in the third quarter. Merit Financial Group LLC now owns 9,774 shares of the company’s stock worth $286,000 after purchasing an additional 919 shares in the last quarter. Employees Retirement System of Texas purchased a new stake in shares of Triple Flag Precious Metals in the 2nd quarter worth $36,000. Drive Wealth Management LLC grew its position in shares of Triple Flag Precious Metals by 5.8% during the 3rd quarter. Drive Wealth Management LLC now owns 32,046 shares of the company’s stock worth $938,000 after buying an additional 1,771 shares in the last quarter. Russell Investments Group Ltd. increased its stake in shares of Triple Flag Precious Metals by 6.9% during the second quarter. Russell Investments Group Ltd. now owns 30,537 shares of the company’s stock valued at $723,000 after buying an additional 1,976 shares during the period. Finally, Engineers Gate Manager LP raised its holdings in shares of Triple Flag Precious Metals by 20.5% in the second quarter. Engineers Gate Manager LP now owns 12,090 shares of the company’s stock valued at $286,000 after acquiring an additional 2,055 shares in the last quarter. Institutional investors own 82.91% of the company’s stock.

Triple Flag Precious Metals Price Performance

NYSE TFPM opened at $34.26 on Friday. The firm’s fifty day simple moving average is $34.97 and its two-hundred day simple moving average is $30.55. The firm has a market capitalization of $7.08 billion, a P/E ratio of 33.92, a P/E/G ratio of 1.02 and a beta of -0.21. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 0.01. Triple Flag Precious Metals Corp. has a 12-month low of $16.26 and a 12-month high of $40.29.

Wall Street Analyst Weigh In

Several research analysts have issued reports on TFPM shares. Bank of America increased their target price on shares of Triple Flag Precious Metals from $33.00 to $37.00 and gave the stock a “buy” rating in a report on Thursday, October 16th. Scotiabank upped their price target on shares of Triple Flag Precious Metals from $34.00 to $43.00 and gave the stock a “sector perform” rating in a research report on Monday, January 26th. Zacks Research lowered shares of Triple Flag Precious Metals from a “hold” rating to a “strong sell” rating in a report on Monday, January 12th. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Triple Flag Precious Metals in a report on Wednesday. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Triple Flag Precious Metals in a report on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Triple Flag Precious Metals presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.25.

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.