Pale Fire Capital SE Makes New Investment in Triple Flag Precious Metals Corp. $TFPM

Key Points

• Pale Fire Capital SE has acquired a new position in Triple Flag Precious Metals Corp., purchasing 14,520 shares valued at approximately $278,000 during the first quarter.
• Triple Flag Precious Metals recently reported a quarterly earnings of $0.24 per share, exceeding analysts' expectations, and announced a quarterly dividend increase to $0.0575 per share, up from $0.06.
• Overall, institutional investors own 82.91% of Triple Flag's stock, and the company holds an average analyst rating of "Moderate Buy" with a target price of $24.00.

Pale Fire Capital SE bought a new stake in Triple Flag Precious Metals Corp. (NYSE:TFPM - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 14,520 shares of the company's stock, valued at approximately $278,000.

Other hedge funds have also added to or reduced their stakes in the company. Russell Investments Group Ltd. boosted its holdings in shares of Triple Flag Precious Metals by 2.5% in the first quarter. Russell Investments Group Ltd. now owns 28,561 shares of the company's stock valued at $546,000 after purchasing an additional 703 shares during the period. Principal Street Partners LLC lifted its position in shares of Triple Flag Precious Metals by 4.2% during the fourth quarter. Principal Street Partners LLC now owns 24,755 shares of the company's stock valued at $372,000 after buying an additional 1,001 shares during the last quarter. Mackenzie Financial Corp raised its position in shares of Triple Flag Precious Metals by 3.5% in the 4th quarter. Mackenzie Financial Corp now owns 32,577 shares of the company's stock valued at $489,000 after purchasing an additional 1,101 shares during the last quarter. XTX Topco Ltd increased its holdings in Triple Flag Precious Metals by 9.1% in the 4th quarter. XTX Topco Ltd now owns 14,852 shares of the company's stock worth $223,000 after buying an additional 1,238 shares during the period. Finally, SVB Wealth LLC acquired a new position in Triple Flag Precious Metals in the 1st quarter worth approximately $34,000. 82.91% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on TFPM. Royal Bank Of Canada upped 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 report on Wednesday, June 4th. Wall Street Zen lowered shares of Triple Flag Precious Metals from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 2nd. CIBC reiterated an "outperform" rating on shares of Triple Flag Precious Metals in a research note 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. Finally, TD Securities reissued a "buy" rating on shares of Triple Flag Precious Metals in a research report on Tuesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $24.00.

Triple Flag Precious Metals Stock Performance

Shares of NYSE TFPM traded down $0.14 during trading hours on Wednesday, reaching $26.35. 523,098 shares of the stock were exchanged, compared to its average volume of 557,201. The firm has a market capitalization of $5.44 billion, a price-to-earnings ratio of 34.40, a P/E/G ratio of 1.17 and a beta of -0.20. Triple Flag Precious Metals Corp. has a 52 week low of $14.51 and a 52 week high of $27.17. The stock's fifty day simple moving average is $24.43 and its 200 day simple moving average is $21.63.

Triple Flag Precious Metals (NYSE:TFPM - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $0.24 earnings per share for the quarter, topping analysts' consensus estimates of $0.21 by $0.03. The company 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%. Research analysts predict that Triple Flag Precious Metals Corp. will post 0.71 EPS for the current fiscal year.

Triple Flag Precious Metals Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be issued a $0.0575 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $0.23 annualized dividend and a yield of 0.9%. This is a boost from Triple Flag Precious Metals's previous quarterly dividend of $0.06. Triple Flag Precious Metals's payout ratio is presently 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.