Ascent Group LLC Buys 33,816 Shares of Triple Flag Precious Metals Corp. $TFPM

Key Points

• Ascent Group LLC significantly increased its stake in Triple Flag Precious Metals Corp. by 198.1%, acquiring an additional 33,816 shares during the 2nd quarter, bringing its total holdings to 50,885 shares valued at approximately $1.2 million.
• Triple Flag Precious Metals recently raised its quarterly dividend from $0.06 to $0.0575 per share, representing an annualized dividend of $0.23 with a yield of 0.8%.
• Wall Street analysts have a favorable outlook on Triple Flag Precious Metals, with an average rating of Moderate Buy and a target price of $24.00, reflecting overall confidence in the company's growth potential.

Ascent Group LLC increased its position in Triple Flag Precious Metals Corp. (NYSE:TFPM - Free Report) by 198.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 50,885 shares of the company's stock after purchasing an additional 33,816 shares during the quarter. Ascent Group LLC's holdings in Triple Flag Precious Metals were worth $1,205,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Russell Investments Group Ltd. grew its position in shares of Triple Flag Precious Metals by 2.5% during the 1st quarter. Russell Investments Group Ltd. now owns 28,561 shares of the company's stock worth $546,000 after buying an additional 703 shares in the last quarter. SVB Wealth LLC bought a new position in Triple Flag Precious Metals during the 1st quarter worth about $34,000. American Century Companies Inc. increased its position in Triple Flag Precious Metals by 0.8% during the 1st quarter. American Century Companies Inc. now owns 241,071 shares of the company's stock valued at $4,612,000 after purchasing an additional 1,876 shares during the period. Goehring & Rozencwajg Associates LLC lifted its position in shares of 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 worth $1,957,000 after purchasing an additional 2,200 shares during the period. Finally, 1832 Asset Management L.P. lifted its position in shares of Triple Flag Precious Metals by 4.4% in the 1st quarter. 1832 Asset Management L.P. now owns 58,207 shares of the company's stock worth $1,115,000 after purchasing an additional 2,469 shares during the period. 82.91% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

TFPM has been the subject of a number of recent research reports. Wall Street Zen raised shares of Triple Flag Precious Metals from a "hold" rating to a "buy" rating in a research note on Saturday, September 13th. BMO Capital Markets cut Triple Flag Precious Metals from an "outperform" rating to a "market perform" rating in a research note on Wednesday, June 25th. TD Securities reiterated a "buy" rating on shares of Triple Flag Precious Metals in a report on Tuesday, June 24th. Weiss Ratings restated a "buy (b)" rating on shares of Triple Flag Precious Metals in a report on Saturday, September 27th. Finally, Canaccord Genuity Group lowered shares of Triple Flag Precious Metals from a "strong-buy" rating to a "hold" rating in a research note on Thursday. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $24.00.

Triple Flag Precious Metals Trading Up 1.2%

Shares of NYSE:TFPM opened at $29.77 on Monday. Triple Flag Precious Metals Corp. has a twelve month low of $14.51 and a twelve month high of $30.44. The company has a market cap of $6.15 billion, a PE ratio of 34.61, a price-to-earnings-growth ratio of 1.28 and a beta of -0.18. The company's 50 day moving average is $26.90 and its 200 day moving average is $23.74.

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

Triple Flag Precious Metals Increases Dividend

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

Triple Flag Precious Metals Company Profile

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.

Want to see what other hedge funds are holding TFPM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Triple Flag Precious Metals Corp. (NYSE:TFPM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.