Tidal Investments LLC Has $88.40 Million Stock Position in Triple Flag Precious Metals Corp. $TFPM

Key Points

• Tidal Investments increased its Triple Flag Precious Metals position by 15.8% in the second quarter, holding 2.95 million shares valued at approximately $88.4 million. Institutional investors collectively own 82.91% of the company.
• Triple Flag reported quarterly earnings of $0.39 per share, beating the $0.33 consensus estimate, on revenue of $129.2 million. The stock opened at $33.95, with a market capitalization of about $6.99 billion.
• The company declared a quarterly dividend of $0.06 per share, equivalent to $0.24 annually and a 0.7% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $38.67.

Tidal Investments LLC lifted its position in Triple Flag Precious Metals Corp. (NYSE:TFPM - Free Report) by 15.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,949,715 shares of the company's stock after acquiring an additional 402,924 shares during the period. Tidal Investments LLC owned about 1.43% of Triple Flag Precious Metals worth $88,403,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in TFPM. Goldman Sachs Group Inc. grew its position in Triple Flag Precious Metals by 69.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 305,826 shares of the company's stock worth $5,857,000 after purchasing an additional 125,746 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Triple Flag Precious Metals by 741.2% in the second quarter. JPMorgan Chase & Co. now owns 299,713 shares of the company's stock worth $7,100,000 after buying an additional 264,082 shares during the period. Russell Investments Group Ltd. boosted its position in shares of Triple Flag Precious Metals by 6.9% in the second quarter. Russell Investments Group Ltd. now owns 30,537 shares of the company's stock worth $723,000 after buying an additional 1,976 shares during the period. First Trust Advisors LP grew its holdings in shares of Triple Flag Precious Metals by 94.5% during the second quarter. First Trust Advisors LP now owns 103,451 shares of the company's stock valued at $2,451,000 after buying an additional 50,263 shares in the last quarter. Finally, Qube Research & Technologies Ltd raised its position in Triple Flag Precious Metals by 30.1% during the second quarter. Qube Research & Technologies Ltd now owns 289,037 shares of the company's stock valued at $6,847,000 after buying an additional 66,938 shares during the period. Institutional investors and hedge funds own 82.91% of the company's stock.

Triple Flag Precious Metals Trading Up 0.4%

TFPM opened at $33.95 on Thursday. The stock has a fifty day moving average price of $31.06 and a 200 day moving average price of $32.60. Triple Flag Precious Metals Corp. has a 1 year low of $26.61 and a 1 year high of $41.70. The stock has a market cap of $6.99 billion, a price-to-earnings ratio of 17.06, a PEG ratio of 2.99 and a beta of -0.15.

Triple Flag Precious Metals (NYSE:TFPM - Get Free Report) last issued its 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 analyst estimates 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 company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be issued a $0.06 dividend. This is an increase from Triple Flag Precious Metals's previous quarterly dividend of $0.06. This represents a $0.24 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Monday, August 31st. Triple Flag Precious Metals's dividend payout ratio is currently 12.06%.

Analyst Ratings Changes

TFPM has been the subject of a number of research reports. Jefferies Financial Group decreased their price objective on Triple Flag Precious Metals from $43.00 to $40.00 and set a "buy" rating for the company in a research report on Monday, July 6th. Scotiabank dropped their target price on Triple Flag Precious Metals from $43.00 to $39.00 and set a "sector perform" rating on the stock in a report on Tuesday, July 14th. Wall Street Zen lowered shares of Triple Flag Precious Metals from a "buy" rating to a "hold" rating in a research report on Sunday, July 12th. Canaccord Genuity Group upgraded shares of Triple Flag Precious Metals from a "hold" rating to a "buy" rating in a report on Friday, June 12th. Finally, BMO Capital Markets reaffirmed a "market perform" rating on shares of Triple Flag Precious Metals in a research report on Friday, June 12th. Six investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average 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.

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