Quantbot Technologies LP Makes New Investment in Triple Flag Precious Metals Corp. $TFPM

Quantbot Technologies LP bought a new stake in Triple Flag Precious Metals Corp. (NYSE:TFPM) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 47,281 shares of the company’s stock, valued at approximately $1,417,000.

Other hedge funds also recently made changes to their positions in the company. Hara Capital LLC purchased a new stake in Triple Flag Precious Metals in the second quarter worth $463,000. BlackRock Inc. purchased a new position in Triple Flag Precious Metals during the second quarter valued at $453,000. Performance Wealth Partners LLC purchased a new position in Triple Flag Precious Metals during the second quarter valued at $1,514,000. Deutsche Bank AG bought a new stake in shares of Triple Flag Precious Metals during the 2nd quarter valued at $12,322,000. Finally, Alberta Investment Management Corp bought a new stake in shares of Triple Flag Precious Metals during the 2nd quarter valued at $564,000. 82.91% of the stock is currently owned by institutional investors.

Triple Flag Precious Metals Trading Up 2.9%

Triple Flag Precious Metals stock opened at $35.72 on Wednesday. The firm has a market cap of $7.36 billion, a price-to-earnings ratio of 17.95, a PEG ratio of 3.07 and a beta of -0.18. The stock has a fifty day simple moving average of $30.08 and a two-hundred day simple moving average of $32.72. Triple Flag Precious Metals Corp. has a 12 month low of $26.00 and a 12 month high of $41.70.

Triple Flag Precious Metals (NYSE:TFPM) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.39 earnings per share for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $129.20 million. On average, equities research analysts forecast that Triple Flag Precious Metals Corp. will post 1.43 EPS for the current fiscal year.

Triple Flag Precious Metals Increases Dividend

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

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on TFPM. Weiss Ratings lowered shares of Triple Flag Precious Metals from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, June 12th. BMO Capital Markets reissued a “market perform” rating on shares of Triple Flag Precious Metals in a research note on Friday, June 12th. Scotiabank cut their price objective on shares of Triple Flag Precious Metals from $43.00 to $39.00 and set a “sector perform” rating on the stock in a report on Tuesday, July 14th. Canaccord Genuity Group raised shares of Triple Flag Precious Metals from a “hold” rating to a “buy” rating in a research note on Friday, June 12th. Finally, Bank of America lowered their target price on shares of Triple Flag Precious Metals from $39.00 to $37.00 and set a “buy” rating for the company in a report on Thursday, July 9th. Six investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Triple Flag Precious Metals presently 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.