Van ECK Associates Corp Acquires 53,175 Shares of Triple Flag Precious Metals Corp. $TFPM

Van ECK Associates Corp raised its stake in shares of Triple Flag Precious Metals Corp. (NYSE:TFPM) by 2.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,336,139 shares of the company’s stock after buying an additional 53,175 shares during the period. Van ECK Associates Corp’s holdings in Triple Flag Precious Metals were worth $70,018,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Triple Flag Precious Metals by 39.9% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,642,566 shares of the company’s stock worth $77,373,000 after acquiring an additional 753,923 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its position in shares of Triple Flag Precious Metals by 25.3% in the third quarter. Arrowstreet Capital Limited Partnership now owns 2,628,151 shares of the company’s stock valued at $76,908,000 after purchasing an additional 530,357 shares during the period. Tidal Investments LLC lifted its stake in shares of Triple Flag Precious Metals by 59.5% in the third quarter. Tidal Investments LLC now owns 2,396,198 shares of the company’s stock worth $70,113,000 after buying an additional 893,566 shares during the last quarter. Vanguard Group Inc. boosted its holdings 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 worth $56,198,000 after buying an additional 762,826 shares during the period. Finally, Norges Bank bought a new stake in shares of Triple Flag Precious Metals during the 4th quarter worth $49,550,000. Institutional investors and hedge funds own 82.91% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on TFPM. Weiss Ratings downgraded shares of Triple Flag Precious Metals from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, June 12th. Jefferies Financial Group cut their price objective on shares of Triple Flag Precious Metals from $43.00 to $40.00 and set a “buy” rating for the company in a research report on Monday, July 6th. Scotiabank decreased their target price on 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. Bank of America lowered their price target on Triple Flag Precious Metals from $39.00 to $37.00 and set a “buy” rating on the stock in a research note on Thursday, July 9th. Finally, Zacks Research raised 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 assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $38.67.

Triple Flag Precious Metals Price Performance

Shares of TFPM stock opened at $33.98 on Friday. The stock’s fifty day simple moving average is $30.35 and its 200 day simple moving average is $32.75. Triple Flag Precious Metals Corp. has a one year low of $26.61 and a one year high of $41.70. The firm has a market cap of $7.00 billion, a price-to-earnings ratio of 17.08, a P/E/G ratio of 3.01 and a beta of -0.18.

Triple Flag Precious Metals (NYSE:TFPM) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.06. The firm had revenue of $129.20 million during the quarter, compared to analyst estimates of $129.20 million. Triple Flag Precious Metals had a return on equity of 14.09% and a net margin of 84.32%. On average, research analysts anticipate that Triple Flag Precious Metals Corp. will post 1.43 earnings per share for the current year.

Triple Flag Precious Metals Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Monday, August 31st. This is a positive change from Triple Flag Precious Metals’s previous quarterly dividend of $0.06. Triple Flag Precious Metals’s payout ratio is currently 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.