Triple Flag Precious Metals Corp. (NYSE:TFPM) Sees Significant Drop in Short Interest

Key Points

• Short interest in Triple Flag Precious Metals Corp. decreased by 29.9% in July, dropping from 1,470,000 shares to 1,030,000 shares.
• The company recently increased its quarterly dividend to $0.0575 per share, reflecting an annualized dividend of $0.23 and a yield of 0.9%.
• Analysts maintain a consensus rating of "Moderate Buy" for Triple Flag Precious Metals, with a consensus price target of $24.00.

Triple Flag Precious Metals Corp. (NYSE:TFPM - Get Free Report) was the target of a large decrease in short interest in July. As of July 31st, there was short interest totaling 1,030,000 shares, adecreaseof29.9% from the July 15th total of 1,470,000 shares. Currently,0.5% of the company's stock are short sold. Based on an average trading volume of 515,300 shares, the days-to-cover ratio is presently 2.0 days. Based on an average trading volume of 515,300 shares, the days-to-cover ratio is presently 2.0 days. Currently,0.5% of the company's stock are short sold.

Triple Flag Precious Metals Trading Up 1.1%

Shares of NYSE TFPM traded up $0.2780 during trading hours on Friday, reaching $26.3080. The stock had a trading volume of 346,838 shares, compared to its average volume of 528,522. The firm has a market cap of $5.43 billion, a price-to-earnings ratio of 30.59, a PEG ratio of 1.16 and a beta of -0.20. Triple Flag Precious Metals has a fifty-two week low of $14.51 and a fifty-two week high of $27.17. The firm has a 50-day moving average of $24.36 and a 200-day moving average of $21.52.

Triple Flag Precious Metals (NYSE:TFPM - Get Free Report) last announced its 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 firm had revenue of $94.09 million during the quarter, compared to analysts' expectations of $82.76 million. Triple Flag Precious Metals had a return on equity of 8.81% and a net margin of 53.11%. On average, equities analysts predict that Triple Flag Precious Metals will post 0.71 EPS for the current year.

Triple Flag Precious Metals Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, September 2nd will be given a $0.0575 dividend. This is a boost from Triple Flag Precious Metals's previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $0.23 dividend on an annualized basis and a dividend yield of 0.9%. Triple Flag Precious Metals's payout ratio is currently 25.58%.

Institutional Trading of Triple Flag Precious Metals

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. SVB Wealth LLC purchased a new stake in Triple Flag Precious Metals during the 1st quarter valued at approximately $34,000. Employees Retirement System of Texas purchased a new stake in Triple Flag Precious Metals during the 2nd quarter valued at approximately $36,000. ORG Wealth Partners LLC purchased a new stake in Triple Flag Precious Metals during the 2nd quarter valued at approximately $97,000. Tower Research Capital LLC TRC raised its stake in Triple Flag Precious Metals by 160.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,015 shares of the company's stock valued at $119,000 after acquiring an additional 3,086 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Triple Flag Precious Metals during the 4th quarter valued at approximately $134,000. 82.91% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TFPM has been the subject of several analyst reports. Royal Bank Of Canada upped their price objective on Triple Flag Precious Metals from $19.00 to $23.00 and gave the stock a "sector perform" rating in a research report on Wednesday, June 4th. Wall Street Zen cut Triple Flag Precious Metals from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 2nd. CIBC reaffirmed an "outperform" rating on shares of Triple Flag Precious Metals in a research report on Tuesday, July 15th. Raymond James Financial reaffirmed an "outperform" rating on shares of Triple Flag Precious Metals in a research report on Friday, August 8th. Finally, BMO Capital Markets cut Triple Flag Precious Metals from an "outperform" rating to a "market perform" rating in a research report on Wednesday, June 25th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Triple Flag Precious Metals currently has an average rating of "Moderate Buy" and an average target price of $24.00.

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.