Caisse de depot et placement du Quebec Purchases Shares of 69,928 Triple Flag Precious Metals Corp. $TFPM

Caisse de depot et placement du Quebec purchased a new position in Triple Flag Precious Metals Corp. (NYSE:TFPM) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 69,928 shares of the company’s stock, valued at approximately $2,094,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Public Employees Retirement System of Ohio lifted its stake in shares of Triple Flag Precious Metals by 2.2% in the third quarter. Public Employees Retirement System of Ohio now owns 16,751 shares of the company’s stock valued at $491,000 after buying an additional 368 shares during the period. Caitlin John LLC grew its position in Triple Flag Precious Metals by 11.2% during the fourth quarter. Caitlin John LLC now owns 3,730 shares of the company’s stock worth $124,000 after buying an additional 375 shares in the last quarter. First Bancorp Inc ME bought a new position in Triple Flag Precious Metals during the second quarter valued at about $71,000. Parvin Asset Management LLC increased its stake in Triple Flag Precious Metals by 1.7% during the third quarter. Parvin Asset Management LLC now owns 38,940 shares of the company’s stock valued at $1,139,000 after acquiring an additional 650 shares during the period. Finally, Cetera Investment Advisers increased its stake in Triple Flag Precious Metals by 9.2% during the first quarter. Cetera Investment Advisers now owns 7,784 shares of the company’s stock valued at $270,000 after acquiring an additional 655 shares during the period. Institutional investors own 82.91% of the company’s stock.

Triple Flag Precious Metals Trading Down 3.0%

NYSE TFPM opened at $33.98 on Friday. The stock’s 50 day moving average is $30.35 and its two-hundred day moving average is $32.75. The company has a market capitalization of $7.00 billion, a price-to-earnings ratio of 17.08, a PEG ratio of 3.01 and a beta of -0.18. Triple Flag Precious Metals Corp. has a 1-year low of $26.61 and a 1-year high of $41.70.

Triple Flag Precious Metals (NYSE:TFPM) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.39 earnings per share 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 company had revenue of $129.20 million for the quarter, compared to analyst estimates of $129.20 million. On average, analysts predict that Triple Flag Precious Metals Corp. will post 1.43 earnings per share for the current year.

Triple Flag Precious Metals Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be paid a $0.06 dividend. The ex-dividend date of this dividend is Monday, August 31st. This represents a $0.24 annualized dividend and a yield of 0.7%. This is a positive change from Triple Flag Precious Metals’s previous quarterly dividend of $0.06. Triple Flag Precious Metals’s payout ratio is presently 11.56%.

Wall Street Analyst Weigh In

TFPM has been the subject of a number of research reports. Scotiabank reduced their price objective on Triple Flag Precious Metals from $43.00 to $39.00 and set a “sector perform” rating for the company in a research report on Tuesday, July 14th. BMO Capital Markets restated a “market perform” rating on shares of Triple Flag Precious Metals in a research report on Friday, June 12th. Jefferies Financial Group cut their target price on Triple Flag Precious Metals from $43.00 to $40.00 and set a “buy” rating for the company in a research note on Monday, July 6th. Bank of America lowered their price target on shares of Triple Flag Precious Metals from $39.00 to $37.00 and set a “buy” rating on the stock in a report on Thursday, July 9th. Finally, Wall Street Zen cut shares of Triple Flag Precious Metals from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Six analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $38.67.

About Triple Flag Precious Metals

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.