Cubist Systematic Strategies LLC Reduces Holdings in Triple Flag Precious Metals Corp. $TFPM

Key Points

• Cubist Systematic Strategies LLC has reduced its holdings in Triple Flag Precious Metals Corp. by 40.8%, now owning 22,067 shares valued at approximately $423,000.
• Analysts have set a new average price target of $24.00 for Triple Flag Precious Metals, with ratings varying from "Strong Buy" to "Hold."
• Triple Flag Precious Metals recently announced a quarterly dividend increase to $0.0575, resulting in an annualized dividend of $0.23 and a yield of 0.8%.

Cubist Systematic Strategies LLC decreased its holdings in Triple Flag Precious Metals Corp. (NYSE:TFPM - Free Report) by 40.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,067 shares of the company's stock after selling 15,231 shares during the quarter. Cubist Systematic Strategies LLC's holdings in Triple Flag Precious Metals were worth $423,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of TFPM. SVB Wealth LLC purchased a new stake in Triple Flag Precious Metals in the 1st quarter valued at $34,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Triple Flag Precious Metals in the 4th quarter valued at $134,000. Quantbot Technologies LP raised its position in Triple Flag Precious Metals by 1,258.9% in the 1st quarter. Quantbot Technologies LP now owns 9,390 shares of the company's stock valued at $180,000 after purchasing an additional 8,699 shares during the last quarter. Prospect Financial Group LLC purchased a new stake in Triple Flag Precious Metals in the 1st quarter valued at $217,000. Finally, Pinnacle Associates Ltd. purchased a new stake in Triple Flag Precious Metals in the 1st quarter valued at $239,000. Hedge funds and other institutional investors own 82.91% of the company's stock.

Triple Flag Precious Metals Trading Down 1.8%

Shares of TFPM traded down $0.53 during trading hours on Tuesday, reaching $28.14. The company had a trading volume of 446,439 shares, compared to its average volume of 610,835. The firm has a 50 day simple moving average of $25.57 and a 200-day simple moving average of $22.75. The company has a market capitalization of $5.81 billion, a price-to-earnings ratio of 32.72, a PEG ratio of 1.26 and a beta of -0.19. Triple Flag Precious Metals Corp. has a 12-month low of $14.51 and a 12-month high of $29.30.

Triple Flag Precious Metals (NYSE:TFPM - Get Free Report) last announced its quarterly earnings results 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. The business had revenue of $94.09 million during the quarter, compared to the consensus estimate of $82.76 million. Triple Flag Precious Metals had a net margin of 53.11% and a return on equity of 8.81%. Sell-side 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 declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd were issued a $0.0575 dividend. The ex-dividend date was Tuesday, September 2nd. This represents a $0.23 dividend on an annualized basis and a dividend yield of 0.8%. This is a boost from Triple Flag Precious Metals's previous quarterly dividend of $0.06. Triple Flag Precious Metals's payout ratio is 26.74%.

Analyst Ratings Changes

Several research firms recently commented on TFPM. Royal Bank Of Canada upped their price target on shares of Triple Flag Precious Metals from $19.00 to $23.00 and gave the company a "sector perform" rating in a research report on Wednesday, June 4th. CIBC restated an "outperform" rating on shares of Triple Flag Precious Metals in a research report on Tuesday, July 15th. Wall Street Zen upgraded shares of Triple Flag Precious Metals from a "hold" rating to a "buy" rating in a research report on Saturday. BMO Capital Markets downgraded shares of Triple Flag Precious Metals from an "outperform" rating to a "market perform" rating in a research report on Wednesday, June 25th. Finally, TD Securities restated a "buy" rating on shares of Triple Flag Precious Metals in a research report on Tuesday, June 24th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $24.00.

Triple Flag Precious Metals 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.