Invesco Ltd. Reduces Stock Position in Triple Flag Precious Metals Corp. $TFPM

Key Points

• Invesco Ltd. has reduced its stake in Triple Flag Precious Metals Corp. by 38.8%, now owning approximately 0.27% of the company worth $10.25 million.
• Several other large investors have increased their positions, with 82.91% of the stock currently held by hedge funds and institutional investors.
• Triple Flag Precious Metals recently increased its quarterly dividend to $0.0575 per share, reflecting a dividend yield of 0.9%.

Invesco Ltd. cut its stake in Triple Flag Precious Metals Corp. (NYSE:TFPM - Free Report) by 38.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 535,180 shares of the company's stock after selling 339,882 shares during the period. Invesco Ltd. owned approximately 0.27% of Triple Flag Precious Metals worth $10,249,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in TFPM. Geode Capital Management LLC grew its position in shares of Triple Flag Precious Metals by 15.4% in the fourth quarter. Geode Capital Management LLC now owns 74,739 shares of the company's stock valued at $1,124,000 after purchasing an additional 9,995 shares in the last quarter. Renaissance Technologies LLC grew its position in shares of Triple Flag Precious Metals by 9.0% in the fourth quarter. Renaissance Technologies LLC now owns 98,900 shares of the company's stock valued at $1,487,000 after purchasing an additional 8,200 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Triple Flag Precious Metals in the fourth quarter valued at approximately $464,000. Barclays PLC grew its position in shares of Triple Flag Precious Metals by 65.4% in the fourth quarter. Barclays PLC now owns 235,658 shares of the company's stock valued at $3,544,000 after purchasing an additional 93,214 shares in the last quarter. Finally, XTX Topco Ltd grew its position in shares of Triple Flag Precious Metals by 9.1% in the fourth quarter. XTX Topco Ltd now owns 14,852 shares of the company's stock valued at $223,000 after purchasing an additional 1,238 shares in the last quarter. 82.91% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Triple Flag Precious Metals Stock Up 1.1%

TFPM opened at $26.3080 on Monday. Triple Flag Precious Metals Corp. has a 52 week low of $14.51 and a 52 week high of $27.17. The business has a fifty day simple moving average of $24.36 and a 200-day simple moving average of $21.52. The firm has a market cap of $5.43 billion, a P/E ratio of 30.59, a P/E/G ratio of 1.16 and a beta of -0.20.

Triple Flag Precious Metals (NYSE:TFPM - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.21 by $0.03. Triple Flag Precious Metals had a return on equity of 8.81% and a net margin of 53.11%.The business had revenue of $94.09 million during the quarter, compared to analyst estimates of $82.76 million. Sell-side analysts expect 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 declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be given a dividend of $0.0575 per share. This is an increase from Triple Flag Precious Metals's previous quarterly dividend of $0.06. This represents a $0.23 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Tuesday, September 2nd. Triple Flag Precious Metals's dividend payout ratio (DPR) is 25.58%.

Triple Flag Precious Metals Company Profile

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.

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