54,654 Triple Flag Precious Metals Corp. $TFPM Shares Sold by Squarepoint Ops LLC

Key Points

• Squarepoint Ops LLC cut its Triple Flag Precious Metals stake by 88.4% in the second quarter, selling 54,654 shares and retaining 7,206 shares valued at approximately $216,000.
• Institutional ownership remains high at 82.91%, with several major investors—including Van ECK Associates, TD Asset Management, and Dimensional Fund Advisors—adding to their positions.
• Triple Flag reported quarterly EPS of $0.39, beating estimates by $0.06, and increased its quarterly dividend to $0.06. Analysts maintain a “Moderate Buy” consensus with an average price target of $39.25, above the stock’s recent $32.04 price.

Squarepoint Ops LLC reduced its position in shares of Triple Flag Precious Metals Corp. (NYSE:TFPM - Free Report) by 88.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,206 shares of the company's stock after selling 54,654 shares during the period. Squarepoint Ops LLC's holdings in Triple Flag Precious Metals were worth $216,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Van ECK Associates Corp boosted its stake in Triple Flag Precious Metals by 2.3% during the second quarter. Van ECK Associates Corp now owns 2,336,139 shares of the company's stock valued at $70,018,000 after buying an additional 53,175 shares during the period. Norges Bank bought a new position in Triple Flag Precious Metals in the 4th quarter worth about $49,550,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Triple Flag Precious Metals in the 2nd quarter valued at about $29,283,000. TD Asset Management Inc raised its holdings 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 acquiring an additional 63,128 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Triple Flag Precious Metals by 8.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 598,967 shares of the company's stock valued at $20,787,000 after acquiring an additional 48,144 shares in the last quarter. Institutional investors own 82.91% of the company's stock.

Triple Flag Precious Metals Trading Down 1.5%

Shares of NYSE TFPM opened at $32.04 on Friday. The stock has a market cap of $6.60 billion, a price-to-earnings ratio of 16.10, a P/E/G ratio of 3.05 and a beta of -0.15. Triple Flag Precious Metals Corp. has a 1-year low of $26.61 and a 1-year high of $41.70. The stock's 50-day moving average is $31.95 and its 200 day moving average is $32.10.

Triple Flag Precious Metals (NYSE:TFPM - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported $0.39 earnings per share for the quarter, topping analysts' consensus estimates of $0.33 by $0.06. The company had revenue of $129.20 million during the quarter, compared to the consensus estimate 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, analysts forecast that Triple Flag Precious Metals Corp. will post 1.39 EPS for the current fiscal year.

Triple Flag Precious Metals Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st were issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Monday, August 31st. This is a positive change from Triple Flag Precious Metals's previous quarterly dividend of $0.0575. Triple Flag Precious Metals's dividend payout ratio (DPR) is presently 12.06%.

Analysts Set New Price Targets

TFPM has been the subject of several recent analyst reports. Weiss Ratings reissued a "buy (b-)" rating on shares of Triple Flag Precious Metals in a report on Wednesday, September 9th. Scotiabank lowered their target price 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 note on Tuesday, July 14th. Canaccord Genuity Group upgraded shares of Triple Flag Precious Metals from a "hold" rating to a "buy" rating in a research report on Friday, June 12th. Zacks Research upgraded shares of Triple Flag Precious Metals from a "strong sell" rating to a "hold" rating in a research report on Monday, August 10th. Finally, Royal Bank Of Canada boosted their price target on shares of Triple Flag Precious Metals from $40.00 to $41.00 and gave the stock a "sector perform" rating in a research note on Wednesday, September 16th. Six equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $39.25.

Triple Flag Precious Metals Company Profile

Triple Flag Precious Metals Corp. is a precious-metals streaming and royalty company. It provides financing to mining companies in exchange for the right to purchase a portion of future metal production at predetermined prices or to receive revenue-based payments from mining operations.

The company's portfolio is primarily focused on gold and silver, with additional exposure to other metals produced as byproducts of its investments. Its interests span a range of mining assets and projects in jurisdictions including North America, South America, Australia and Africa.

Triple Flag was established in 2016 and is headquartered in Toronto, Canada.

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