Van ECK Associates Corp Has $75.24 Million Position in Triple Flag Precious Metals Corp. $TFPM

Van ECK Associates Corp grew its stake in Triple Flag Precious Metals Corp. (NYSE:TFPM) by 10.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,555,954 shares of the company’s stock after acquiring an additional 250,123 shares during the quarter. Van ECK Associates Corp owned 1.24% of Triple Flag Precious Metals worth $75,244,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of TFPM. Bank of Montreal Can grew its position in shares of Triple Flag Precious Metals by 25.6% in the 3rd quarter. Bank of Montreal Can now owns 635,233 shares of the company’s stock valued at $18,591,000 after purchasing an additional 129,641 shares during the period. Swiss National Bank boosted its holdings in shares of Triple Flag Precious Metals by 4.6% in the third quarter. Swiss National Bank now owns 121,165 shares of the company’s stock valued at $3,548,000 after buying an additional 5,300 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in shares of Triple Flag Precious Metals during the third quarter worth $324,000. First Trust Advisors LP increased its position in shares of Triple Flag Precious Metals by 48.3% during the third quarter. First Trust Advisors LP now owns 153,462 shares of the company’s stock worth $4,490,000 after acquiring an additional 50,011 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Triple Flag Precious Metals by 24.4% during the third quarter. Dimensional Fund Advisors LP now owns 508,070 shares of the company’s stock worth $14,866,000 after acquiring an additional 99,605 shares during the period. Institutional investors own 82.91% of the company’s stock.

Triple Flag Precious Metals Stock Up 0.2%

TFPM stock opened at $39.07 on Wednesday. The company has a market cap of $8.07 billion, a price-to-earnings ratio of 33.11, a P/E/G ratio of 2.01 and a beta of -0.28. Triple Flag Precious Metals Corp. has a twelve month low of $17.53 and a twelve month high of $41.70. The business has a 50 day moving average price of $36.79 and a two-hundred day moving average price of $32.61.

Triple Flag Precious Metals (NYSE:TFPM) last issued its earnings results on Wednesday, February 18th. The company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.01. The business had revenue of $118.92 million for the quarter, compared to the consensus estimate of $114.92 million. Triple Flag Precious Metals had a net margin of 61.74% and a return on equity of 10.82%. On average, equities research analysts anticipate that Triple Flag Precious Metals Corp. will post 0.71 EPS for the current fiscal year.

Triple Flag Precious Metals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 2nd will be given a $0.0575 dividend. This represents a $0.23 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Monday, March 2nd. Triple Flag Precious Metals’s dividend payout ratio (DPR) is presently 19.49%.

Analysts Set New Price Targets

A number of research firms have issued reports on TFPM. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Triple Flag Precious Metals in a report on Wednesday, February 4th. Weiss Ratings restated a “buy (b)” rating on shares of Triple Flag Precious Metals in a report on Wednesday, January 21st. BMO Capital Markets reiterated a “market perform” rating on shares of Triple Flag Precious Metals in a report on Thursday, January 15th. Wall Street Zen raised Triple Flag Precious Metals from a “hold” rating to a “buy” rating in a research report on Saturday, February 21st. Finally, Scotiabank boosted their target price on Triple Flag Precious Metals from $34.00 to $43.00 and gave the company a “sector perform” rating in a research note on Monday, January 26th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $32.25.

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.