Caisse de depot et placement du Quebec Makes New $2.09 Million Investment in Triple Flag Precious Metals Corp. $TFPM

Key Points

• Caisse de dépôt et placement du Québec purchased 69,928 shares of Triple Flag Precious Metals worth approximately $2.09 million during the second quarter. Institutional investors collectively own 82.91% of the company.
• Triple Flag reported quarterly earnings of $0.39 per share, exceeding analyst expectations of $0.33, on revenue of $129.2 million. Shares opened at $33.98, while analysts maintain a “Moderate Buy” consensus with an average price target of $38.67.
• The company declared a quarterly dividend of $0.06, equivalent to $0.24 annually and a 0.7% yield; its dividend payout ratio is 11.56%.

Caisse de depot et placement du Quebec purchased a new stake in shares of Triple Flag Precious Metals Corp. (NYSE:TFPM - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 69,928 shares of the company's stock, valued at approximately $2,094,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Goldman Sachs Group Inc. increased its position in Triple Flag Precious Metals by 69.8% during the first quarter. Goldman Sachs Group Inc. now owns 305,826 shares of the company's stock worth $5,857,000 after buying an additional 125,746 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Triple Flag Precious Metals by 741.2% in the second quarter. JPMorgan Chase & Co. now owns 299,713 shares of the company's stock worth $7,100,000 after buying an additional 264,082 shares during the last quarter. Russell Investments Group Ltd. lifted its position in shares of Triple Flag Precious Metals by 6.9% in the second quarter. Russell Investments Group Ltd. now owns 30,537 shares of the company's stock worth $723,000 after buying an additional 1,976 shares during the last quarter. First Trust Advisors LP boosted its stake in shares of Triple Flag Precious Metals by 94.5% during the 2nd quarter. First Trust Advisors LP now owns 103,451 shares of the company's stock worth $2,451,000 after acquiring an additional 50,263 shares in the last quarter. Finally, Qube Research & Technologies Ltd boosted its stake in shares of Triple Flag Precious Metals by 30.1% during the 2nd quarter. Qube Research & Technologies Ltd now owns 289,037 shares of the company's stock worth $6,847,000 after acquiring an additional 66,938 shares in the last quarter. Institutional investors and hedge funds own 82.91% of the company's stock.

Triple Flag Precious Metals Stock Performance

Shares of NYSE:TFPM opened at $33.98 on Friday. The stock's 50-day moving average is $30.35 and its 200-day moving average is $32.75. The company has a market cap of $7.00 billion, a P/E ratio of 17.08, a P/E/G ratio of 3.01 and a beta of -0.18. Triple Flag Precious Metals Corp. has a 52-week low of $26.61 and a 52-week high of $41.70.

Triple Flag Precious Metals (NYSE:TFPM - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.06. Triple Flag Precious Metals had a return on equity of 14.09% and a net margin of 84.32%.The business had revenue of $129.20 million during the quarter, compared to analysts' expectations of $129.20 million. As a group, equities analysts predict that Triple Flag Precious Metals Corp. will post 1.43 EPS for the current year.

Triple Flag Precious Metals Increases Dividend

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

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on TFPM shares. Bank of America cut their price objective on Triple Flag Precious Metals from $39.00 to $37.00 and set a "buy" rating on the stock in a research note on Thursday, July 9th. Scotiabank lowered their price target on Triple Flag Precious Metals from $43.00 to $39.00 and set a "sector perform" rating on the stock in a report on Tuesday, July 14th. Wall Street Zen downgraded Triple Flag Precious Metals from a "buy" rating to a "hold" rating in a report on Sunday, July 12th. BMO Capital Markets reissued a "market perform" rating on shares of Triple Flag Precious Metals in a research report on Friday, June 12th. Finally, Jefferies Financial Group reduced their price objective on shares of Triple Flag Precious Metals from $43.00 to $40.00 and set a "buy" rating for the company in a research note on Monday, July 6th. Six investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Triple Flag Precious Metals presently 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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