SCS Capital Management LLC Purchases Shares of 792,613 Triple Flag Precious Metals Corp. $TFPM

Key Points

• SCS Capital Management LLC invested approximately $15.18 million in Triple Flag Precious Metals Corp., acquiring 792,613 shares during the first quarter.
• Triple Flag Precious Metals recently announced a quarterly dividend increase to $0.0575 per share, representing an annualized dividend of $0.23 and a yield of 0.8%.
• Analysts from various firms have given Triple Flag Precious Metals a consensus rating of "Moderate Buy" with an average price target of $24.00.

SCS Capital Management LLC bought a new position in Triple Flag Precious Metals Corp. (NYSE:TFPM - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm bought 792,613 shares of the company's stock, valued at approximately $15,179,000. SCS Capital Management LLC owned about 0.39% of Triple Flag Precious Metals as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Ascent Group LLC acquired a new stake in shares of Triple Flag Precious Metals in the 1st quarter worth $327,000. Goldman Sachs Group Inc. increased its stake in shares of Triple Flag Precious Metals by 69.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 305,826 shares of the company's stock worth $5,857,000 after acquiring an additional 125,746 shares during the last quarter. Mountain Lake Investment Management LLC acquired a new stake in shares of Triple Flag Precious Metals in the 1st quarter worth $932,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake 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 worth $31,542,000 after acquiring an additional 173,881 shares during the last quarter. Finally, PDT Partners LLC acquired a new stake in shares of Triple Flag Precious Metals in the 1st quarter worth $250,000. 82.91% of the stock is owned by institutional investors and hedge funds.

Triple Flag Precious Metals Trading Down 0.8%

Triple Flag Precious Metals stock traded down $0.23 during midday trading on Friday, reaching $28.64. 630,834 shares of the stock traded hands, compared to its average volume of 646,174. The company has a 50-day simple moving average of $25.39 and a two-hundred day simple moving average of $22.59. Triple Flag Precious Metals Corp. has a 12-month low of $14.51 and a 12-month high of $29.25. The firm has a market cap of $5.91 billion, a PE ratio of 33.30, a price-to-earnings-growth ratio of 1.27 and a beta of -0.19.

Triple Flag Precious Metals (NYSE:TFPM - Get Free Report) last announced its earnings results 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 return on equity of 8.81% and a net margin of 53.11%.The company had revenue of $94.09 million during the quarter, compared to analysts' expectations of $82.76 million. Equities research analysts anticipate that Triple Flag Precious Metals Corp. will post 0.71 earnings per share for the current year.

Triple Flag Precious Metals Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be given a $0.0575 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $0.23 dividend on an annualized basis and a yield of 0.8%. This is an increase from Triple Flag Precious Metals's previous quarterly dividend of $0.06. Triple Flag Precious Metals's dividend payout ratio is 26.74%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on TFPM shares. CIBC reiterated an "outperform" rating on shares of Triple Flag Precious Metals in a report on Tuesday, July 15th. Royal Bank Of Canada increased their price target on Triple Flag Precious Metals from $19.00 to $23.00 and gave the stock a "sector perform" rating in a report on Wednesday, June 4th. Raymond James Financial reiterated an "outperform" rating on shares of Triple Flag Precious Metals in a report on Friday, August 8th. Wall Street Zen upgraded Triple Flag Precious Metals from a "hold" rating to a "buy" rating in a report on Saturday. Finally, BMO Capital Markets cut Triple Flag Precious Metals from an "outperform" rating to a "market perform" rating in a report on Wednesday, June 25th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Triple Flag Precious Metals currently has a consensus rating of "Moderate Buy" and an average target price of $24.00.

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.