SCS Capital Management LLC Takes $15.18 Million Position in 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 acquired a new stake in Triple Flag Precious Metals Corp. (NYSE:TFPM - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 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 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TFPM. Tidal Investments LLC lifted its stake in Triple Flag Precious Metals by 221.9% in the fourth quarter. Tidal Investments LLC now owns 1,717,347 shares of the company's stock valued at $25,829,000 after buying an additional 1,183,827 shares during the last quarter. Mackenzie Financial Corp raised its stake 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. Millennium Management LLC raised its stake in shares of Triple Flag Precious Metals by 104.6% during the fourth quarter. Millennium Management LLC now owns 442,678 shares of the company's stock worth $6,650,000 after purchasing an additional 226,330 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Triple Flag Precious Metals by 11.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,648,973 shares of the company's stock worth $31,542,000 after purchasing an additional 173,881 shares during the last quarter. Finally, Two Sigma Advisers LP raised its stake in shares of Triple Flag Precious Metals by 56.6% during the fourth quarter. Two Sigma Advisers LP now owns 436,100 shares of the company's stock worth $6,559,000 after purchasing an additional 157,700 shares during the last quarter. Hedge funds and other institutional investors own 82.91% of the company's stock.

Wall Street Analysts Forecast Growth

TFPM has been the subject of several analyst reports. TD Securities restated a "buy" rating on shares of Triple Flag Precious Metals in a research note on Tuesday, June 24th. Raymond James Financial restated an "outperform" rating on shares of Triple Flag Precious Metals in a research note on Friday, August 8th. Wall Street Zen upgraded Triple Flag Precious Metals from a "hold" rating to a "buy" rating in a research note on Saturday. BMO Capital Markets cut Triple Flag Precious Metals from an "outperform" rating to a "market perform" rating in a research report on Wednesday, June 25th. Finally, CIBC reiterated an "outperform" rating on shares of Triple Flag Precious Metals in a research report on Tuesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Triple Flag Precious Metals has a consensus rating of "Moderate Buy" and a consensus target price of $24.00.

Triple Flag Precious Metals Trading Down 0.8%

Shares of TFPM stock traded down $0.23 during mid-day trading on Friday, reaching $28.64. The stock had a trading volume of 630,834 shares, compared to its average volume of 646,174. The stock's 50-day moving average price is $25.39 and its two-hundred day moving average price is $22.55. Triple Flag Precious Metals Corp. has a 52-week low of $14.51 and a 52-week high of $29.25. The firm has a market capitalization 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 released its quarterly earnings data on Wednesday, August 6th. The company reported $0.24 earnings per share (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 for the quarter, compared to analysts' expectations of $82.76 million. On average, equities research analysts forecast 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 announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be paid a dividend of $0.0575 per share. This represents a $0.23 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Tuesday, September 2nd. 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 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.