Triple Flag Precious Metals (NYSE:TFPM) Shares Down 5.3% - Here's What Happened

Triple Flag Precious Metals Corp. (NYSE:TFPM - Get Free Report)'s share price dropped 5.3% on Tuesday . The stock traded as low as $23.65 and last traded at $23.26. Approximately 46,171 shares traded hands during trading, a decline of 86% from the average daily volume of 339,722 shares. The stock had previously closed at $24.57.

Wall Street Analyst Weigh In

TFPM has been the subject of several recent analyst reports. Raymond James Financial restated an "outperform" rating on shares of Triple Flag Precious Metals in a research note on Thursday. Scotiabank restated a "sector perform" rating on shares of Triple Flag Precious Metals in a research note on Monday, April 14th. National Bank Financial upgraded Triple Flag Precious Metals to a "strong-buy" rating in a research note on Wednesday, April 23rd. Royal Bank Of Canada lifted their price target on Triple Flag Precious Metals from $19.00 to $23.00 and gave the stock a "sector perform" rating in a research note on Wednesday, June 4th. Finally, TD Securities reiterated a "buy" rating on shares of Triple Flag Precious Metals in a research note on Tuesday, June 24th. Three analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Triple Flag Precious Metals has a consensus rating of "Moderate Buy" and an average price target of $24.00.

Triple Flag Precious Metals Stock Down 1.1%

The firm has a market cap of $4.67 billion, a price-to-earnings ratio of 35.64, a price-to-earnings-growth ratio of 1.12 and a beta of -0.20. The stock's 50-day moving average price is $22.79 and its 200 day moving average price is $19.48.

Triple Flag Precious Metals (NYSE:TFPM - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.19 by $0.01. The firm had revenue of $82.25 million for the quarter, compared to analysts' expectations of $72.14 million. Triple Flag Precious Metals had a net margin of 1.71% and a return on equity of 7.69%. On average, research analysts predict that Triple Flag Precious Metals Corp. will post 0.71 EPS for the current year.

Triple Flag Precious Metals Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, May 30th were given a $0.055 dividend. This represents a $0.22 annualized dividend and a yield of 0.95%. The ex-dividend date was Friday, May 30th. Triple Flag Precious Metals's dividend payout ratio (DPR) is currently 733.33%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Russell Investments Group Ltd. increased its stake in shares of Triple Flag Precious Metals by 2.5% in the first quarter. Russell Investments Group Ltd. now owns 28,561 shares of the company's stock worth $546,000 after purchasing an additional 703 shares in the last quarter. Principal Street Partners LLC increased its stake in shares of Triple Flag Precious Metals by 4.2% in the fourth quarter. Principal Street Partners LLC now owns 24,755 shares of the company's stock worth $372,000 after buying an additional 1,001 shares during the period. Mackenzie Financial Corp increased its stake in shares of Triple Flag Precious Metals by 3.5% in the fourth quarter. Mackenzie Financial Corp now owns 32,577 shares of the company's stock worth $489,000 after buying an additional 1,101 shares during the period. Farther Finance Advisors LLC increased its position in Triple Flag Precious Metals by 175.6% during the 4th quarter. Farther Finance Advisors LLC now owns 1,896 shares of the company's stock valued at $29,000 after purchasing an additional 1,208 shares during the period. Finally, XTX Topco Ltd increased its position in Triple Flag Precious Metals by 9.1% during the 4th quarter. XTX Topco Ltd now owns 14,852 shares of the company's stock valued at $223,000 after purchasing an additional 1,238 shares during the period. 82.91% of the stock is owned by institutional investors.

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.