The Manufacturers Life Insurance Company Makes New Investment in Triple Flag Precious Metals Corp. $TFPM

Key Points

• The Manufacturers Life Insurance Company initiated a position in Triple Flag Precious Metals, purchasing 82,960 shares valued at approximately $2.48 million. Institutional investors collectively own 82.91% of the company.
• Triple Flag reported quarterly earnings of $0.39 per share, beating analyst estimates of $0.33, on revenue of $129.2 million. The company posted an 84.32% net margin and 14.09% return on equity.
• Analysts maintain a “Moderate Buy” consensus rating with an average price target of $38.67, compared with the stock’s reported price of $34.12. Triple Flag also pays a quarterly dividend of $0.06, or $0.24 annually.

The Manufacturers Life Insurance Company bought a new position in Triple Flag Precious Metals Corp. (NYSE:TFPM - Free Report) in the 2nd quarter, according to its most recent disclosure with the SEC. The firm bought 82,960 shares of the company's stock, valued at approximately $2,482,000.

A number of other large investors have also recently modified their holdings of TFPM. Public Employees Retirement System of Ohio increased its position in shares of Triple Flag Precious Metals by 2.2% during the third quarter. Public Employees Retirement System of Ohio now owns 16,751 shares of the company's stock valued at $491,000 after buying an additional 368 shares during the period. Caitlin John LLC lifted its holdings in Triple Flag Precious Metals by 11.2% in the fourth quarter. Caitlin John LLC now owns 3,730 shares of the company's stock worth $124,000 after buying an additional 375 shares during the period. Parvin Asset Management LLC boosted its position in Triple Flag Precious Metals by 1.7% during the 3rd quarter. Parvin Asset Management LLC now owns 38,940 shares of the company's stock valued at $1,139,000 after acquiring an additional 650 shares in the last quarter. Cetera Investment Advisers grew its holdings in shares of Triple Flag Precious Metals by 9.2% during the 1st quarter. Cetera Investment Advisers now owns 7,784 shares of the company's stock worth $270,000 after acquiring an additional 655 shares during the period. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Triple Flag Precious Metals by 120.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,217 shares of the company's stock worth $40,000 after acquiring an additional 664 shares during the period. Institutional investors own 82.91% of the company's stock.

Triple Flag Precious Metals Stock Performance

TFPM stock opened at $34.12 on Thursday. The firm has a 50 day moving average price of $30.62 and a 200-day moving average price of $32.68. Triple Flag Precious Metals Corp. has a 52-week low of $26.61 and a 52-week high of $41.70. The firm has a market capitalization of $7.03 billion, a price-to-earnings ratio of 17.14, a PEG ratio of 2.89 and a beta of -0.15.

Triple Flag Precious Metals (NYSE:TFPM - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.06. Triple Flag Precious Metals had a return on equity of 14.09% and a net margin of 84.32%.The company had revenue of $129.20 million for the quarter, compared to the consensus estimate of $129.20 million. As a group, sell-side analysts forecast that Triple Flag Precious Metals Corp. will post 1.43 earnings per share for the current fiscal year.

Triple Flag Precious Metals Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.7%. This is a positive change from Triple Flag Precious Metals's previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Monday, August 31st. Triple Flag Precious Metals's dividend payout ratio is presently 12.06%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on TFPM. Weiss Ratings cut Triple Flag Precious Metals from a "buy (b)" rating to a "buy (b-)" rating in a research note on Friday, June 12th. Wall Street Zen downgraded Triple Flag Precious Metals from a "buy" rating to a "hold" rating in a report on Sunday, July 12th. Canaccord Genuity Group raised Triple Flag Precious Metals from a "hold" rating to a "buy" rating in a research report on Friday, June 12th. Bank of America dropped their target price on shares of Triple Flag Precious Metals from $39.00 to $37.00 and set a "buy" rating on the stock in a report on Thursday, July 9th. Finally, Jefferies Financial Group reduced their target price on shares of Triple Flag Precious Metals from $43.00 to $40.00 and set a "buy" rating on the stock in a research report on Monday, July 6th. Six equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Triple Flag Precious Metals currently has a consensus rating of "Moderate Buy" and a consensus target price of $38.67.

Triple Flag Precious Metals Profile

Triple Flag Precious Metals Corp. is a Toronto-based precious metals streaming and royalty company traded on the New York Stock Exchange under the ticker TFPM. The company specializes in providing upfront financing to mining operators in exchange for the right to purchase a fixed percentage of future gold and silver production at discounted prices. By structuring these streaming and royalty agreements, Triple Flag Precious Metals aims to optimize its capital deployment and maintain a predictable cost profile while benefitting from upside in precious metal prices.

Since its formation in mid-2022, Triple Flag Precious Metals has established a diversified portfolio of streaming and royalty assets across a variety of jurisdictions.

Want to see what other hedge funds are holding TFPM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Triple Flag Precious Metals Corp. (NYSE:TFPM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.