Triple Flag Precious Metals Corp. $TFPM Shares Sold by Cubist Systematic Strategies LLC

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

Several other large investors have also modified their holdings of TFPM. Tidal Investments LLC lifted its stake in shares of Triple Flag Precious Metals by 221.9% in the 4th quarter. Tidal Investments LLC now owns 1,717,347 shares of the company's stock valued at $25,829,000 after purchasing an additional 1,183,827 shares during the last quarter. Mackenzie Financial Corp lifted its stake in shares of Triple Flag Precious Metals by 2,463.9% in the 1st quarter. Mackenzie Financial Corp now owns 835,240 shares of the company's stock valued at $15,978,000 after purchasing an additional 802,663 shares during the last quarter. Millennium Management LLC lifted its stake in shares of Triple Flag Precious Metals by 104.6% in the 4th quarter. Millennium Management LLC now owns 442,678 shares of the company's stock valued at $6,650,000 after purchasing an additional 226,330 shares during the last quarter. Two Sigma Advisers LP lifted its stake in shares of Triple Flag Precious Metals by 56.6% in the 4th quarter. Two Sigma Advisers LP now owns 436,100 shares of the company's stock valued at $6,559,000 after purchasing an additional 157,700 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Triple Flag Precious Metals by 141.7% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 233,500 shares of the company's stock valued at $4,468,000 after buying an additional 136,900 shares during the period. Institutional investors and hedge funds own 82.91% of the company's stock.

Analysts Set New Price Targets

TFPM has been the topic of several research analyst reports. Royal Bank Of Canada boosted their price objective on Triple Flag Precious Metals from $19.00 to $23.00 and gave the company a "sector perform" rating in a report on Wednesday, June 4th. BMO Capital Markets downgraded Triple Flag Precious Metals from an "outperform" rating to a "market perform" rating in a report on Wednesday, June 25th. TD Securities reiterated a "buy" rating on shares of Triple Flag Precious Metals in a report on Tuesday, June 24th. Raymond James Financial reiterated an "outperform" rating on shares of Triple Flag Precious Metals in a report on Friday, August 8th. Finally, Wall Street Zen downgraded Triple Flag Precious Metals from a "buy" rating to a "hold" rating in a report on Friday, September 5th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $24.00.

Triple Flag Precious Metals Stock Performance

TFPM opened at $28.23 on Thursday. Triple Flag Precious Metals Corp. has a one year low of $14.51 and a one year high of $29.25. The company has a market cap of $5.83 billion, a P/E ratio of 32.82, a PEG ratio of 1.26 and a beta of -0.19. The business's 50-day simple moving average is $25.20 and its 200-day simple moving average is $22.39.

Triple Flag Precious Metals (NYSE:TFPM - Get Free Report) last released its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $82.76 million. As a group, analysts predict that Triple Flag Precious Metals Corp. will post 0.71 earnings per share for the current fiscal year.

Triple Flag Precious Metals Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be issued a $0.0575 dividend. This represents a $0.23 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Tuesday, September 2nd. This is an increase from Triple Flag Precious Metals's previous quarterly dividend of $0.06. Triple Flag Precious Metals's dividend payout ratio (DPR) is currently 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.

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