BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Sells 1,516,096 Shares of Triple Flag Precious Metals Corp. $TFPM

Key Points

• British Columbia Investment Management Corp significantly reduced its stake in Triple Flag Precious Metals Corp by 97.8%, selling over 1.5 million shares and currently holding only 33,834 shares valued at approximately $647,000.
• Triple Flag Precious Metals reported a quarterly EPS of $0.24, surpassing the consensus estimate of $0.21, with a total revenue of $94.09 million that exceeded analyst expectations.
• The company announced an increase in its quarterly dividend from $0.06 to $0.0575, to be paid on September 15th, representing an annual yield of 0.9%.

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lessened its position in Triple Flag Precious Metals Corp. (NYSE:TFPM - Free Report) by 97.8% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 33,834 shares of the company's stock after selling 1,516,096 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in Triple Flag Precious Metals were worth $647,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in TFPM. Tidal Investments LLC grew its stake in Triple Flag Precious Metals by 221.9% in the fourth quarter. Tidal Investments LLC now owns 1,717,347 shares of the company's stock valued at $25,829,000 after acquiring an additional 1,183,827 shares during the period. Mackenzie Financial Corp boosted its position in shares of Triple Flag Precious Metals by 2,463.9% during the first quarter. Mackenzie Financial Corp now owns 835,240 shares of the company's stock valued at $15,978,000 after buying an additional 802,663 shares during the last quarter. Millennium Management LLC boosted its position in shares of Triple Flag Precious Metals by 104.6% during the fourth quarter. Millennium Management LLC now owns 442,678 shares of the company's stock valued at $6,650,000 after buying an additional 226,330 shares during the last quarter. Two Sigma Advisers LP boosted its position in shares of Triple Flag Precious Metals by 56.6% during the fourth quarter. Two Sigma Advisers LP now owns 436,100 shares of the company's stock valued at $6,559,000 after buying an additional 157,700 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Triple Flag Precious Metals by 141.7% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 233,500 shares of the company's stock valued at $4,468,000 after buying an additional 136,900 shares during the last quarter. Institutional investors and hedge funds own 82.91% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on TFPM shares. Raymond James Financial reaffirmed an "outperform" rating on shares of Triple Flag Precious Metals in a research report on Friday, August 8th. TD Securities reaffirmed a "buy" rating on shares of Triple Flag Precious Metals in a research report on Tuesday, June 24th. Wall Street Zen cut Triple Flag Precious Metals from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 2nd. CIBC reaffirmed an "outperform" rating on shares of Triple Flag Precious Metals in a research report on Tuesday, July 15th. Finally, BMO Capital Markets cut Triple Flag Precious Metals from an "outperform" rating to a "market perform" rating in a research report on Wednesday, June 25th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $24.00.

Triple Flag Precious Metals Stock Up 2.6%

Triple Flag Precious Metals stock traded up $0.70 during mid-day trading on Friday, reaching $27.43. 833,053 shares of the company's stock were exchanged, compared to its average volume of 575,001. The business's fifty day simple moving average is $24.56 and its 200 day simple moving average is $21.80. The firm has a market capitalization of $5.66 billion, a PE ratio of 31.90, a P/E/G ratio of 1.18 and a beta of -0.20. Triple Flag Precious Metals Corp. has a one year low of $14.51 and a one year high of $27.75.

Triple Flag Precious Metals (NYSE:TFPM - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.24 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 analyst estimates of $82.76 million. Triple Flag Precious Metals had a return on equity of 8.81% and a net margin of 53.11%. On average, sell-side analysts forecast that Triple Flag Precious Metals Corp. will post 0.71 earnings per share for the current year.

Triple Flag Precious Metals Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be paid a $0.0575 dividend. The ex-dividend date 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 annualized dividend and a dividend yield of 0.8%. Triple Flag Precious Metals's dividend payout ratio is presently 25.58%.

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.