Amundi Reduces Position in Triple Flag Precious Metals Corp. $TFPM

Key Points

• Amundi reduced its stake in Triple Flag Precious Metals Corp. by 1.7%, holding 529,382 shares worth approximately $10.5 million after selling 9,043 shares in the first quarter.
• Triple Flag Precious Metals has experienced mixed ratings from analysts, with Royal Bank of Canada increasing their price target to $23.00, while others downgraded their ratings to "hold" or "market perform."
• The company has declared an increase in its quarterly dividend to $0.0575 per share, boosting the annualized dividend yield to 0.8%, with an ex-dividend date of September 2nd.

Amundi lowered its position in Triple Flag Precious Metals Corp. (NYSE:TFPM - Free Report) by 1.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 529,382 shares of the company's stock after selling 9,043 shares during the period. Amundi owned approximately 0.26% of Triple Flag Precious Metals worth $10,476,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the company. Russell Investments Group Ltd. lifted its stake in Triple Flag Precious Metals by 2.5% in the first quarter. Russell Investments Group Ltd. now owns 28,561 shares of the company's stock worth $546,000 after purchasing an additional 703 shares during the last quarter. Principal Street Partners LLC raised its stake in shares of Triple Flag Precious Metals by 4.2% during the fourth 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 raised its stake in shares of Triple Flag Precious Metals by 3.5% during the fourth 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. SVB Wealth LLC bought a new stake in shares of Triple Flag Precious Metals during the first quarter valued at approximately $34,000. Finally, American Century Companies Inc. raised its stake in shares of Triple Flag Precious Metals by 0.8% during the first quarter. American Century Companies Inc. now owns 241,071 shares of the company's stock valued at $4,612,000 after acquiring an additional 1,876 shares in the last quarter. Institutional investors own 82.91% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. CIBC reaffirmed an "outperform" rating on shares of Triple Flag Precious Metals in a research note on Tuesday, July 15th. TD Securities reaffirmed a "buy" rating on shares of Triple Flag Precious Metals in a research note on Tuesday, June 24th. Royal Bank Of Canada lifted their price target on shares of Triple Flag Precious Metals from $19.00 to $23.00 and gave the company a "sector perform" rating in a research note on Wednesday, June 4th. Raymond James Financial reaffirmed an "outperform" rating on shares of Triple Flag Precious Metals in a research note on Friday, August 8th. Finally, Wall Street Zen raised shares of Triple Flag Precious Metals from a "hold" rating to a "buy" rating in a research note on Saturday. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three 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 an average target price of $24.00.

Triple Flag Precious Metals Stock Performance

NYSE:TFPM traded down $0.23 during trading hours on Friday, reaching $28.64. The company's stock had a trading volume of 630,834 shares, compared to its average volume of 646,174. The company has a market capitalization of $5.91 billion, a P/E ratio of 33.30, a price-to-earnings-growth ratio of 1.27 and a beta of -0.19. Triple Flag Precious Metals Corp. has a 12 month low of $14.51 and a 12 month high of $29.25. The stock has a 50 day moving average price of $25.39 and a two-hundred day moving average price of $22.55.

Triple Flag Precious Metals (NYSE:TFPM - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.21 by $0.03. The business had revenue of $94.09 million for the quarter, compared to the consensus estimate of $82.76 million. Triple Flag Precious Metals had a return on equity of 8.81% and a net margin of 53.11%. As a group, analysts predict that Triple Flag Precious Metals Corp. will post 0.71 EPS for the current fiscal year.

Triple Flag Precious Metals Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be given a dividend of $0.0575 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This is a boost from Triple Flag Precious Metals's previous quarterly dividend of $0.06. This represents a $0.23 dividend on an annualized basis and a dividend yield of 0.8%. Triple Flag Precious Metals's payout ratio is currently 26.74%.

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.