Drive Wealth Management LLC Purchases Shares of 30,275 Triple Flag Precious Metals Corp. $TFPM

Drive Wealth Management LLC purchased a new stake in Triple Flag Precious Metals Corp. (NYSE:TFPM) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 30,275 shares of the company’s stock, valued at approximately $717,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Russell Investments Group Ltd. raised its stake in 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 valued at $546,000 after buying an additional 703 shares during the last quarter. SVB Wealth LLC purchased a new position in shares of Triple Flag Precious Metals in the first quarter worth about $34,000. American Century Companies Inc. raised its stake in shares of Triple Flag Precious Metals by 0.8% in the first quarter. American Century Companies Inc. now owns 241,071 shares of the company’s stock worth $4,612,000 after purchasing an additional 1,876 shares during the last quarter. Goehring & Rozencwajg Associates LLC raised its stake in shares of Triple Flag Precious Metals by 2.2% in the first quarter. Goehring & Rozencwajg Associates LLC now owns 101,856 shares of the company’s stock worth $1,957,000 after purchasing an additional 2,200 shares during the last quarter. Finally, 1832 Asset Management L.P. raised its stake in shares of Triple Flag Precious Metals by 4.4% in the first quarter. 1832 Asset Management L.P. now owns 58,207 shares of the company’s stock worth $1,115,000 after purchasing an additional 2,469 shares during the last quarter. 82.91% of the stock is currently owned by hedge funds and other institutional investors.

Triple Flag Precious Metals Trading Down 7.2%

Shares of TFPM stock opened at $30.87 on Monday. The stock has a 50 day moving average of $28.26 and a 200 day moving average of $24.55. The stock has a market cap of $6.38 billion, a P/E ratio of 35.89, a P/E/G ratio of 1.02 and a beta of -0.18. Triple Flag Precious Metals Corp. has a twelve month low of $14.51 and a twelve month high of $33.51.

Triple Flag Precious Metals (NYSE:TFPM) 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. Triple Flag Precious Metals had a return on equity of 8.81% and a net margin of 53.11%.The company had revenue of $94.09 million during the quarter, compared to analysts’ expectations of $82.76 million. On average, research analysts predict that Triple Flag Precious Metals Corp. will post 0.71 earnings per share for the current fiscal year.

Triple Flag Precious Metals Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd were issued a $0.0575 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This is an increase from Triple Flag Precious Metals’s previous quarterly dividend of $0.06. This represents a $0.23 annualized dividend and a yield of 0.7%. Triple Flag Precious Metals’s dividend payout ratio is 26.74%.

Analyst Upgrades and Downgrades

TFPM has been the subject of several research analyst reports. Bank of America raised their price objective on Triple Flag Precious Metals from $33.00 to $37.00 and gave the stock a “buy” rating in a research note on Thursday. Zacks Research upgraded Triple Flag Precious Metals from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 25th. TD Securities restated a “buy” rating on shares of Triple Flag Precious Metals in a research note on Tuesday, June 24th. Raymond James Financial restated an “outperform” rating on shares of Triple Flag Precious Metals in a research note on Friday, October 10th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Triple Flag Precious Metals in a research note on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Triple Flag Precious Metals has an average rating of “Moderate Buy” and a consensus target price of $27.25.

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.