Ninety One UK Ltd Reduces Stock Holdings in Triple Flag Precious Metals Corp. $TFPM

Key Points

• Ninety One UK Ltd reduced its stake in Triple Flag Precious Metals Corp. by 30.5% in the second quarter, holding approximately 824,459 shares valued at $19.51 million after selling 361,805 shares.
• Triple Flag Precious Metals declared a quarterly dividend of $0.0575, representing an annualized rate of $0.23 and a dividend yield of 0.8%, an increase from the previous dividend amount.
• Analysts have mixed sentiments regarding the stock, with ratings ranging from "strong buy" to "hold," and an average price target of $24.00, indicating potential upside from its current trading levels.

Ninety One UK Ltd lowered its stake in shares of Triple Flag Precious Metals Corp. (NYSE:TFPM - Free Report) by 30.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 824,459 shares of the company's stock after selling 361,805 shares during the quarter. Ninety One UK Ltd owned approximately 0.40% of Triple Flag Precious Metals worth $19,510,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the stock. Mackenzie Financial Corp grew its holdings 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 worth $15,978,000 after purchasing an additional 802,663 shares during the last quarter. SCS Capital Management LLC purchased a new stake in shares of Triple Flag Precious Metals in the 1st quarter valued at about $15,179,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Triple Flag Precious Metals by 11.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,648,973 shares of the company's stock valued at $31,542,000 after purchasing an additional 173,881 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its stake in Triple Flag Precious Metals by 141.7% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 233,500 shares of the company's stock worth $4,468,000 after buying an additional 136,900 shares during the last quarter. Finally, 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 period. Institutional investors and hedge funds own 82.91% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on TFPM. BMO Capital Markets downgraded Triple Flag Precious Metals from an "outperform" rating to a "market perform" rating in a report on Wednesday, June 25th. CIBC reiterated an "outperform" rating on shares of Triple Flag Precious Metals in a research report on Tuesday, July 15th. Royal Bank Of Canada increased their price target on shares of Triple Flag Precious Metals from $19.00 to $23.00 and gave the stock a "sector perform" rating in a research note on Wednesday, June 4th. Zacks Research upgraded shares of Triple Flag Precious Metals from a "hold" rating to a "strong-buy" rating in a research note on Thursday, September 25th. Finally, Wall Street Zen raised shares of Triple Flag Precious Metals from a "hold" rating to a "buy" rating in a report on Saturday, September 13th. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $24.00.

Triple Flag Precious Metals Stock Up 2.6%

Shares of NYSE:TFPM opened at $30.03 on Thursday. Triple Flag Precious Metals Corp. has a fifty-two week low of $14.51 and a fifty-two week high of $30.14. The firm's 50-day simple moving average is $26.67 and its 200-day simple moving average is $23.53. The company has a market cap of $6.20 billion, a price-to-earnings ratio of 34.91, a PEG ratio of 1.25 and a beta of -0.18.

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

Triple Flag Precious Metals Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Tuesday, September 2nd were paid a $0.0575 dividend. This represents a $0.23 dividend on an annualized basis and a dividend yield of 0.8%. This is a boost from Triple Flag Precious Metals's previous quarterly dividend of $0.06. The ex-dividend date was Tuesday, September 2nd. Triple Flag Precious Metals's dividend payout ratio (DPR) is presently 26.74%.

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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