Bank of America Corp DE Boosts Stake in Triple Flag Precious Metals Corp. $TFPM

Bank of America Corp DE grew its holdings in shares of Triple Flag Precious Metals Corp. (NYSE:TFPM - Free Report) by 30.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 495,404 shares of the company's stock after acquiring an additional 116,421 shares during the period. Bank of America Corp DE owned about 0.24% of Triple Flag Precious Metals worth $17,195,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Banque Cantonale Vaudoise acquired a new position in shares of Triple Flag Precious Metals in the 1st quarter valued at approximately $33,000. Quarry LP purchased a new position in shares of Triple Flag Precious Metals during the 3rd quarter valued at approximately $33,000. EverSource Wealth Advisors LLC increased its stake in shares of Triple Flag Precious Metals by 120.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,217 shares of the company's stock worth $40,000 after buying an additional 664 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in Triple Flag Precious Metals by 160.0% in the second quarter. Tower Research Capital LLC TRC now owns 5,015 shares of the company's stock valued at $119,000 after acquiring an additional 3,086 shares in the last quarter. Finally, Caitlin John LLC raised its holdings in Triple Flag Precious Metals by 11.2% in the fourth quarter. Caitlin John LLC now owns 3,730 shares of the company's stock valued at $124,000 after acquiring an additional 375 shares in the last quarter. 82.91% of the stock is owned by hedge funds and other institutional investors.

Triple Flag Precious Metals Trading Up 1.8%

Shares of Triple Flag Precious Metals stock opened at $33.32 on Friday. The business's 50 day simple moving average is $29.82 and its 200-day simple moving average is $32.72. The stock has a market capitalization of $6.86 billion, a price-to-earnings ratio of 16.74, a PEG ratio of 2.95 and a beta of -0.18. Triple Flag Precious Metals Corp. has a twelve month low of $25.36 and a twelve month high of $41.70.

Triple Flag Precious Metals (NYSE:TFPM - Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported $0.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.33 by $0.06. The company had revenue of $129.20 million for the quarter, compared to analysts' expectations of $129.20 million. Triple Flag Precious Metals had a return on equity of 14.09% and a net margin of 84.32%. Sell-side analysts predict that Triple Flag Precious Metals Corp. will post 1.4 earnings per share for the current year.

Triple Flag Precious Metals Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be paid a $0.06 dividend. The ex-dividend date is Monday, August 31st. This is an increase from Triple Flag Precious Metals's previous quarterly dividend of $0.06. This represents a $0.24 annualized dividend and a dividend yield of 0.7%. Triple Flag Precious Metals's dividend payout ratio (DPR) is 11.56%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. BMO Capital Markets reissued a "market perform" rating on shares of Triple Flag Precious Metals in a research report on Friday, June 12th. Bank of America reduced their price target on shares of Triple Flag Precious Metals from $39.00 to $37.00 and set a "buy" rating on the stock in a research report on Thursday, July 9th. Scotiabank lowered their price objective on Triple Flag Precious Metals from $43.00 to $39.00 and set a "sector perform" rating for the company in a report on Tuesday, July 14th. Zacks Research upgraded Triple Flag Precious Metals from a "strong sell" rating to a "hold" rating in a research note on Monday, August 10th. Finally, Canaccord Genuity Group raised Triple Flag Precious Metals from a "hold" rating to a "buy" rating in a report on Friday, June 12th. Six equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $38.67.

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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