TD Asset Management Inc Raises Holdings in Triple Flag Precious Metals Corp. $TFPM

Key Points

• TD Asset Management Inc increased its holdings in Triple Flag Precious Metals Corp by 19.4%, owning 612,618 shares valued at approximately $14.5 million.
• Triple Flag Precious Metals reported strong earnings of $0.24 EPS, exceeding analysts’ expectations of $0.21, with revenues of $94.09 million for the quarter.
• The company announced a dividend increase to $0.0575 per share, reflecting a payout ratio of 26.74% and a dividend yield of 0.7%.

TD Asset Management Inc lifted its stake in Triple Flag Precious Metals Corp. (NYSE:TFPM - Free Report) by 19.4% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 612,618 shares of the company's stock after buying an additional 99,598 shares during the quarter. TD Asset Management Inc owned approximately 0.30% of Triple Flag Precious Metals worth $14,497,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. SVB Wealth LLC purchased a new stake in shares of Triple Flag Precious Metals in the first quarter worth about $34,000. ORG Wealth Partners LLC purchased a new stake in shares of Triple Flag Precious Metals in the second quarter worth about $97,000. Quantbot Technologies LP boosted its position in Triple Flag Precious Metals by 1,258.9% during the first quarter. Quantbot Technologies LP now owns 9,390 shares of the company's stock worth $180,000 after purchasing an additional 8,699 shares in the last quarter. Drucker Wealth 3.0 LLC purchased a new position in Triple Flag Precious Metals during the second quarter worth approximately $206,000. Finally, Prospect Financial Group LLC purchased a new position in Triple Flag Precious Metals during the first quarter worth approximately $217,000. Hedge funds and other institutional investors own 82.91% of the company's stock.

Triple Flag Precious Metals Price Performance

Shares of Triple Flag Precious Metals stock opened at $30.87 on Friday. The business has a 50 day simple moving average of $28.26 and a two-hundred day simple moving average of $24.52. Triple Flag Precious Metals Corp. has a 12 month low of $14.51 and a 12 month high of $33.51. The stock has a market capitalization of $6.38 billion, a P/E ratio of 35.89, a PEG ratio of 1.31 and a beta of -0.18.

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 business had revenue of $94.09 million during the quarter, compared to analysts' expectations of $82.76 million. As a group, research analysts anticipate 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 declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Tuesday, September 2nd were issued a $0.0575 dividend. This is a boost from Triple Flag Precious Metals's previous quarterly dividend of $0.06. This represents a $0.23 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Tuesday, September 2nd. Triple Flag Precious Metals's payout ratio is 26.74%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on TFPM. TD Securities reiterated a "buy" rating on shares of Triple Flag Precious Metals in a research report on Tuesday, June 24th. 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. CIBC reiterated an "outperform" rating on shares of Triple Flag Precious Metals in a research report on Tuesday, July 15th. Canaccord Genuity Group downgraded Triple Flag Precious Metals from a "strong-buy" rating to a "hold" rating in a research report on Thursday, October 2nd. Finally, Raymond James Financial reiterated an "outperform" rating on shares of Triple Flag Precious Metals in a research report on Friday, October 10th. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and four 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 a consensus target price of $27.25.

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.

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