Short Interest in Triple Flag Precious Metals Corp. (NYSE:TFPM) Grows By 46.6%

Key Points

• Short interest in Triple Flag Precious Metals Corp. increased by 46.6% in August, from 1,030,000 shares to 1,510,000 shares, which represents 0.8% of the company's total shares.
• The company beat earnings expectations by reporting $0.24 earnings per share (EPS) for the quarter, surpassing the consensus estimate of $0.21.
• Triple Flag Precious Metals also announced a quarterly dividend of $0.0575, increasing its yield to 0.8%, which is a rise from the previous dividend of $0.06.

Triple Flag Precious Metals Corp. (NYSE:TFPM - Get Free Report) was the recipient of a large growth in short interest in the month of August. As of August 15th, there was short interest totaling 1,510,000 shares, a growth of 46.6% from the July 31st total of 1,030,000 shares. Based on an average trading volume of 487,400 shares, the days-to-cover ratio is presently 3.1 days. Currently, 0.8% of the shares of the stock are sold short. Currently, 0.8% of the shares of the stock are sold short. Based on an average trading volume of 487,400 shares, the days-to-cover ratio is presently 3.1 days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Arrowstreet Capital Limited Partnership boosted its position in shares of Triple Flag Precious Metals by 67.4% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 2,097,794 shares of the company's stock valued at $49,731,000 after acquiring an additional 844,765 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Triple Flag Precious Metals by 14.5% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,888,643 shares of the company's stock valued at $44,694,000 after buying an additional 239,670 shares during the period. Tidal Investments LLC raised its holdings in 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 buying an additional 1,183,827 shares during the period. Norges Bank purchased a new stake in Triple Flag Precious Metals in the 2nd quarter valued at about $24,816,000. Finally, Mackenzie Financial Corp raised its holdings in Triple Flag Precious Metals by 15.5% in the 2nd quarter. Mackenzie Financial Corp now owns 964,756 shares of the company's stock valued at $22,891,000 after buying an additional 129,516 shares during the period. Institutional investors and hedge funds own 82.91% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on TFPM shares. CIBC reissued an "outperform" rating on shares of Triple Flag Precious Metals in a research note on Tuesday, July 15th. Royal Bank Of Canada lifted 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 note on Wednesday, June 4th. TD Securities reissued a "buy" rating on shares of Triple Flag Precious Metals in a research note on Tuesday, June 24th. Wall Street Zen cut shares of Triple Flag Precious Metals from a "buy" rating to a "hold" rating in a research note on Friday, September 5th. Finally, Raymond James Financial reissued an "outperform" rating on shares of Triple Flag Precious Metals in a research note on Friday, August 8th. 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 stock. According to data from MarketBeat, Triple Flag Precious Metals currently has a consensus rating of "Moderate Buy" and a consensus target price of $24.00.

Triple Flag Precious Metals Stock Performance

Shares of TFPM stock traded down $0.23 on Friday, hitting $28.64. 630,834 shares of the stock traded hands, compared to its average volume of 646,174. The firm's 50-day moving average price is $25.39 and its two-hundred day moving average price is $22.55. The stock has a market capitalization of $5.91 billion, a PE ratio of 33.30, a PEG ratio of 1.27 and a beta of -0.19. Triple Flag Precious Metals has a twelve month low of $14.51 and a twelve month high of $29.25.

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 for the quarter, beating the consensus estimate of $0.21 by $0.03. The firm had revenue of $94.09 million for the quarter, compared to analysts' expectations of $82.76 million. Triple Flag Precious Metals had a net margin of 53.11% and a return on equity of 8.81%. On average, equities research analysts anticipate that Triple Flag Precious Metals will post 0.71 EPS for the current fiscal year.

Triple Flag Precious Metals Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be given a dividend of $0.0575 per share. This represents a $0.23 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Tuesday, September 2nd. This is a positive change from Triple Flag Precious Metals's previous quarterly dividend of $0.06. Triple Flag Precious Metals's dividend payout ratio is presently 26.74%.

About Triple Flag Precious Metals

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.