Assenagon Asset Management S.A. Takes $7.82 Million Position in Triple Flag Precious Metals Corp. $TFPM

Key Points

• Assenagon Asset Management purchased a new stake of 235,281 shares in Triple Flag Precious Metals valued at approximately $7.82 million, representing about 0.11% of the company.
• Triple Flag beat expectations with quarterly EPS of $0.33 (vs. $0.32 est.) and revenue of $118.92 million, posting a 61.74% net margin and holding a market cap near $6.77 billion (P/E 27.77).
• The company declared a quarterly dividend of $0.0575 (annualized $0.23, ~0.7% yield), and analysts maintain a Moderate Buy consensus with an average price target of $32.25.

Assenagon Asset Management S.A. purchased a new stake in Triple Flag Precious Metals Corp. (NYSE:TFPM - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 235,281 shares of the company's stock, valued at approximately $7,816,000. Assenagon Asset Management S.A. owned 0.11% of Triple Flag Precious Metals as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Bessemer Group Inc. purchased a new stake in shares of Triple Flag Precious Metals during the third quarter worth about $27,000. Quarry LP purchased a new position in Triple Flag Precious Metals in the 3rd quarter valued at about $33,000. Employees Retirement System of Texas acquired a new stake in Triple Flag Precious Metals in the 2nd quarter worth about $36,000. Aventura Private Wealth LLC acquired a new stake in Triple Flag Precious Metals in the 4th quarter worth about $38,000. Finally, SBI Securities Co. Ltd. increased its stake in Triple Flag Precious Metals by 100.6% during the 3rd quarter. SBI Securities Co. Ltd. now owns 1,408 shares of the company's stock worth $41,000 after buying an additional 706 shares in the last quarter. Hedge funds and other institutional investors own 82.91% of the company's stock.

Triple Flag Precious Metals Stock Performance

Shares of Triple Flag Precious Metals stock opened at $32.77 on Friday. The business's 50 day moving average price is $36.51 and its 200 day moving average price is $33.17. The company has a market cap of $6.77 billion, a price-to-earnings ratio of 27.77, a PEG ratio of 1.89 and a beta of -0.28. Triple Flag Precious Metals Corp. has a one year low of $17.72 and a one year high of $41.70.

Triple Flag Precious Metals (NYSE:TFPM - Get Free Report) last issued its earnings results on Wednesday, February 18th. The company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.01. Triple Flag Precious Metals had a return on equity of 10.82% and a net margin of 61.74%.The company had revenue of $118.92 million during the quarter, compared to analysts' expectations of $114.92 million. On average, analysts predict 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 declared a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Monday, March 2nd were given a dividend of $0.0575 per share. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $0.23 annualized dividend and a dividend yield of 0.7%. Triple Flag Precious Metals's payout ratio is presently 19.49%.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Canadian Imperial Bank of Commerce reissued an "outperform" rating on shares of Triple Flag Precious Metals in a report on Wednesday, February 4th. Zacks Research raised Triple Flag Precious Metals from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 11th. Weiss Ratings reiterated a "buy (b)" rating on shares of Triple Flag Precious Metals in a research report on Wednesday, January 21st. Wall Street Zen raised Triple Flag Precious Metals from a "hold" rating to a "buy" rating in a research note on Saturday, February 21st. Finally, BMO Capital Markets restated a "market perform" rating on shares of Triple Flag Precious Metals in a report on Thursday, January 15th. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $32.25.

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.

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