Van ECK Associates Corp Raises Position in Triple Flag Precious Metals Corp. $TFPM

Key Points

• VanECK increased its Triple Flag Precious Metals stake by 2.3% in the second quarter, adding 53,175 shares to hold 2.34 million shares worth approximately $70 million. Institutional investors collectively own 82.91% of the company.
• Triple Flag reported quarterly EPS of $0.39, exceeding the $0.33 analyst consensus, on revenue of $129.2 million. The company also declared a quarterly dividend of $0.06 per share, equivalent to a 0.7% annualized yield.
• Analyst sentiment remains broadly positive, with six Buy ratings and three Holds producing a “Moderate Buy” consensus and an average price target of $38.67, above the reported share price of $33.98.

Van ECK Associates Corp grew its stake in shares of Triple Flag Precious Metals Corp. (NYSE:TFPM - Free Report) by 2.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,336,139 shares of the company's stock after acquiring an additional 53,175 shares during the quarter. Van ECK Associates Corp owned about 1.13% of Triple Flag Precious Metals worth $70,018,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Banque Cantonale Vaudoise purchased a new stake in shares of Triple Flag Precious Metals during the 1st quarter valued at $33,000. Quarry LP acquired a new stake in shares of Triple Flag Precious Metals during the 3rd quarter worth $33,000. EverSource Wealth Advisors LLC raised its position in shares of Triple Flag Precious Metals by 120.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,217 shares of the company's stock worth $40,000 after buying an additional 664 shares during the period. Fiduciary Financial Advisors purchased a new position in shares of Triple Flag Precious Metals in the 2nd quarter worth $47,000. Finally, First Bancorp Inc ME acquired a new position in Triple Flag Precious Metals in the second quarter valued at $71,000. Hedge funds and other institutional investors own 82.91% of the company's stock.

Triple Flag Precious Metals Stock Down 3.0%

TFPM stock opened at $33.98 on Friday. The company has a market capitalization of $7.00 billion, a PE ratio of 17.08, a P/E/G ratio of 3.01 and a beta of -0.18. The stock's 50 day moving average is $30.35 and its two-hundred day moving average is $32.75. Triple Flag Precious Metals Corp. has a 52-week low of $26.61 and a 52-week high of $41.70.

Triple Flag Precious Metals (NYSE:TFPM - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.39 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $129.20 million for the quarter, compared to analysts' expectations of $129.20 million. As a group, sell-side analysts anticipate that Triple Flag Precious Metals Corp. will post 1.43 EPS for the current year.

Triple Flag Precious Metals Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be paid a dividend of $0.06 per share. This is a boost from Triple Flag Precious Metals's previous quarterly dividend of $0.06. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Monday, August 31st. Triple Flag Precious Metals's dividend payout ratio (DPR) is 11.56%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Scotiabank dropped their price target on Triple Flag Precious Metals from $43.00 to $39.00 and set a "sector perform" rating for the company in a research note on Tuesday, July 14th. Jefferies Financial Group reduced their price objective on Triple Flag Precious Metals from $43.00 to $40.00 and set a "buy" rating on the stock in a research note on Monday, July 6th. Canaccord Genuity Group upgraded Triple Flag Precious Metals from a "hold" rating to a "buy" rating in a report on Friday, June 12th. Wall Street Zen lowered shares of Triple Flag Precious Metals from a "buy" rating to a "hold" rating in a report on Sunday, July 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 equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Triple Flag Precious Metals currently 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.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source