Beutel Goodman & Co Ltd. Purchases 368,736 Shares of Triple Flag Precious Metals Corp. $TFPM

Key Points

• Beutel Goodman increased its Triple Flag Precious Metals position by 31.2% in the third quarter, buying 368,736 shares to reach 1,549,883 shares, worth about $47.8 million.
• Institutional investors own 82.91% of the company’s shares; several other funds also added to or initiated positions.
• Triple Flag reported quarterly EPS of $0.26, beating the $0.23 consensus estimate, and announced a $0.06 quarterly dividend. Analysts’ average rating is “Moderate Buy,” with an average price target of $39.25.

Beutel Goodman & Co Ltd. boosted its position in shares of Triple Flag Precious Metals Corp. (NYSE:TFPM - Free Report) by 31.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,549,883 shares of the company's stock after purchasing an additional 368,736 shares during the period. Beutel Goodman & Co Ltd. owned 0.75% of Triple Flag Precious Metals worth $47,803,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Tidal Investments LLC increased its position in Triple Flag Precious Metals by 15.8% in the 2nd quarter. Tidal Investments LLC now owns 2,949,715 shares of the company's stock worth $88,403,000 after purchasing an additional 402,924 shares during the last quarter. Van ECK Associates Corp lifted its holdings in shares of Triple Flag Precious Metals by 2.3% during the 2nd 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 last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Triple Flag Precious Metals during the 2nd quarter valued at about $29,283,000. Dimensional Fund Advisors LP lifted its holdings in shares of Triple Flag Precious Metals by 8.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 598,967 shares of the company's stock valued at $20,787,000 after buying an additional 48,144 shares during the last quarter. Finally, Bank of America Corp DE grew its stake in shares of Triple Flag Precious Metals by 3.1% in the 2nd quarter. Bank of America Corp DE now owns 510,966 shares of the company's stock valued at $15,314,000 after buying an additional 15,562 shares in the last quarter. Hedge funds and other institutional investors own 82.91% of the company's stock.

Triple Flag Precious Metals Price Performance

Shares of NYSE:TFPM opened at $32.96 on Tuesday. Triple Flag Precious Metals Corp. has a fifty-two week low of $26.61 and a fifty-two week high of $41.70. The business has a 50-day moving average of $31.35 and a two-hundred day moving average of $32.62. The stock has a market capitalization of $6.78 billion, a P/E ratio of 16.48, a P/E/G ratio of 3.21 and a beta of -0.09. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.89 and a quick ratio of 6.26.

Triple Flag Precious Metals (NYSE:TFPM - Get Free Report) last released its quarterly earnings results on Tuesday, November 3rd. The company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.03. The company had revenue of $106.70 million during the quarter, compared to the consensus estimate of $106.70 million. Triple Flag Precious Metals had a return on equity of 13.56% and a net margin of 82.56%. On average, equities research analysts predict that Triple Flag Precious Metals Corp. will post 1.31 EPS for the current fiscal year.

Triple Flag Precious Metals Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Monday, November 30th will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.7%. The ex-dividend date is Monday, November 30th. Triple Flag Precious Metals's payout ratio is 12.00%.

Analysts Set New Price Targets

A number of research firms recently commented on TFPM. Royal Bank Of Canada increased their price objective on Triple Flag Precious Metals from $40.00 to $41.00 and gave the stock a "sector perform" rating in a report on Wednesday, September 16th. Zacks Research upgraded shares of Triple Flag Precious Metals from a "strong sell" rating to a "hold" rating in a research note on Monday, August 10th. Weiss Ratings raised shares of Triple Flag Precious Metals from a "buy (b-)" rating to a "buy (b)" rating in a research report on Wednesday, October 14th. Finally, Scotiabank decreased their target price on shares of Triple Flag Precious Metals from $43.00 to $39.00 and set a "sector perform" rating for the company in a research report on Tuesday, July 14th. Five research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $39.25.

About Triple Flag Precious Metals

Triple Flag Precious Metals Corp. is a precious metals streaming and royalty company. It provides mining companies with upfront financing in exchange for the right to purchase a portion of future metal production or receive royalty payments tied to production or revenue.

The company's portfolio is focused on gold and silver, with exposure to other metals through some assets. Triple Flag holds interests in mines and development projects across several regions, including the Americas, Australia and Africa.

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