Pinnacle Associates Ltd. Acquires Shares of 12,504 Triple Flag Precious Metals Corp. (NYSE:TFPM)

Pinnacle Associates Ltd. purchased a new position in shares of Triple Flag Precious Metals Corp. (NYSE:TFPM - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 12,504 shares of the company's stock, valued at approximately $239,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TFPM. Principal Street Partners LLC lifted its position in Triple Flag Precious Metals by 4.2% in the 4th quarter. Principal Street Partners LLC now owns 24,755 shares of the company's stock valued at $372,000 after acquiring an additional 1,001 shares in the last quarter. Mackenzie Financial Corp lifted its position in Triple Flag Precious Metals by 3.5% in the 4th quarter. Mackenzie Financial Corp now owns 32,577 shares of the company's stock valued at $489,000 after acquiring an additional 1,101 shares in the last quarter. XTX Topco Ltd lifted its position in Triple Flag Precious Metals by 9.1% in the 4th quarter. XTX Topco Ltd now owns 14,852 shares of the company's stock valued at $223,000 after acquiring an additional 1,238 shares in the last quarter. Goehring & Rozencwajg Associates LLC lifted its position in Triple Flag Precious Metals by 2.2% in the 1st quarter. Goehring & Rozencwajg Associates LLC now owns 101,856 shares of the company's stock valued at $1,957,000 after acquiring an additional 2,200 shares in the last quarter. Finally, HighTower Advisors LLC lifted its position in Triple Flag Precious Metals by 8.4% in the 4th quarter. HighTower Advisors LLC now owns 31,432 shares of the company's stock valued at $473,000 after acquiring an additional 2,447 shares in the last quarter. 82.91% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

TFPM has been the topic of several research reports. Royal Bank Of Canada boosted their price objective on shares of Triple Flag Precious Metals from $19.00 to $23.00 and gave the company a "sector perform" rating in a research report on Wednesday, June 4th. National Bank Financial upgraded shares of Triple Flag Precious Metals to a "strong-buy" rating in a research note on Wednesday, April 23rd. Wall Street Zen upgraded shares of Triple Flag Precious Metals from a "buy" rating to a "strong-buy" rating in a research note on Friday, July 18th. BMO Capital Markets lowered shares of Triple Flag Precious Metals from an "outperform" rating to a "market perform" rating in a research note on Wednesday, June 25th. Finally, Raymond James Financial reiterated an "outperform" rating on shares of Triple Flag Precious Metals in a research note on Thursday, July 10th. Three research analysts have rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $24.00.

Triple Flag Precious Metals Price Performance

TFPM stock traded down $0.05 during midday trading on Friday, hitting $22.78. The company's stock had a trading volume of 234,496 shares, compared to its average volume of 397,759. Triple Flag Precious Metals Corp. has a twelve month low of $13.94 and a twelve month high of $25.45. The company's fifty day moving average price is $23.62 and its 200 day moving average price is $20.39. The stock has a market capitalization of $4.70 billion, a P/E ratio of 759.30, a PEG ratio of 1.04 and a beta of -0.20.

Triple Flag Precious Metals (NYSE:TFPM - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.01. The company had revenue of $82.25 million for the quarter, compared to analyst estimates of $72.14 million. Triple Flag Precious Metals had a net margin of 1.71% and a return on equity of 7.69%. Equities analysts expect that Triple Flag Precious Metals Corp. will post 0.71 EPS for the current fiscal year.

Triple Flag Precious Metals Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 30th were paid a dividend of $0.055 per share. The ex-dividend date was Friday, May 30th. This represents a $0.22 annualized dividend and a dividend yield of 1.0%. Triple Flag Precious Metals's payout ratio is currently 733.33%.

About Triple Flag Precious Metals

Triple Flag Precious Metals Corp., a precious-metals-focused streaming and royalty company, engages in acquiring and managing precious metals, streams, royalties and other mineral interests in Australia, Canada, Colombia, Cote d'Ivoire, Honduras, Mexico, Mongolia, Peru, South Africa, the United States, and internationally.