Mountain Lake Investment Management LLC Acquires New Position in Triple Flag Precious Metals Corp. $TFPM

Key Points

• Mountain Lake Investment Management LLC acquired 48,691 shares of Triple Flag Precious Metals Corp., valued at approximately $932,000, constituting 0.9% of its portfolio.
• Triple Flag has had a positive quarterly performance, reporting earnings of $0.24 per share and revenue of $94.09 million, exceeding analysts' expectations.
• The company significantly increased its quarterly dividend from $0.06 to $0.0575, representing an annualized yield of 0.8% and a payout ratio of 26.74%.

Mountain Lake Investment Management LLC bought a new position in Triple Flag Precious Metals Corp. (NYSE:TFPM - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 48,691 shares of the company's stock, valued at approximately $932,000. Triple Flag Precious Metals accounts for approximately 0.9% of Mountain Lake Investment Management LLC's investment portfolio, making the stock its 20th biggest holding.

Several other large investors have also added to or reduced their stakes in the stock. Russell Investments Group Ltd. boosted its stake in Triple Flag Precious Metals by 2.5% in the 1st quarter. Russell Investments Group Ltd. now owns 28,561 shares of the company's stock worth $546,000 after purchasing an additional 703 shares during the period. Principal Street Partners LLC boosted its stake in Triple Flag Precious Metals by 4.2% in the 4th quarter. Principal Street Partners LLC now owns 24,755 shares of the company's stock worth $372,000 after purchasing an additional 1,001 shares during the period. Mackenzie Financial Corp boosted its stake in Triple Flag Precious Metals by 3.5% in the 4th quarter. Mackenzie Financial Corp now owns 32,577 shares of the company's stock worth $489,000 after purchasing an additional 1,101 shares during the period. SVB Wealth LLC bought a new position in Triple Flag Precious Metals in the 1st quarter worth about $34,000. Finally, American Century Companies Inc. boosted its stake in Triple Flag Precious Metals by 0.8% in the 1st quarter. American Century Companies Inc. now owns 241,071 shares of the company's stock worth $4,612,000 after purchasing an additional 1,876 shares during the period. Institutional investors own 82.91% of the company's stock.

Analysts Set New Price Targets

Several brokerages have commented on TFPM. Raymond James Financial reiterated an "outperform" rating on shares of Triple Flag Precious Metals in a research report on Friday, August 8th. CIBC reiterated an "outperform" rating on shares of Triple Flag Precious Metals in a research report on Tuesday, July 15th. BMO Capital Markets downgraded Triple Flag Precious Metals from an "outperform" rating to a "market perform" rating in a research report on Wednesday, June 25th. TD Securities reiterated a "buy" rating on shares of Triple Flag Precious Metals in a research report on Tuesday, June 24th. Finally, Wall Street Zen downgraded Triple Flag Precious Metals from a "buy" rating to a "hold" rating in a research report on Friday. One research 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. According to data from MarketBeat.com, Triple Flag Precious Metals currently has an average rating of "Moderate Buy" and an average price target of $24.00.

Triple Flag Precious Metals Stock Up 1.8%

Shares of NYSE TFPM traded up $0.50 during trading hours on Monday, reaching $28.83. 861,951 shares of the stock traded hands, compared to its average volume of 644,412. The company has a market capitalization of $5.95 billion, a P/E ratio of 33.53, a price-to-earnings-growth ratio of 1.25 and a beta of -0.19. Triple Flag Precious Metals Corp. has a 52-week low of $14.51 and a 52-week high of $29.09. The company's 50-day simple moving average is $25.02 and its two-hundred day simple moving average is $22.31.

Triple Flag Precious Metals (NYSE:TFPM - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.24 earnings per share for the quarter, beating analysts' consensus estimates of $0.21 by $0.03. The company had revenue of $94.09 million for the quarter, compared to analysts' expectations of $82.76 million. Triple Flag Precious Metals had a return on equity of 8.81% and a net margin of 53.11%. As a group, sell-side analysts forecast that Triple Flag Precious Metals Corp. will post 0.71 earnings per share for the current fiscal year.

Triple Flag Precious Metals Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, September 2nd will be issued a dividend of $0.0575 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $0.23 dividend on an annualized basis and a dividend yield of 0.8%. This is a positive change from Triple Flag Precious Metals's previous quarterly dividend of $0.06. Triple Flag Precious Metals's payout ratio is 26.74%.

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.