Royal Bank of Canada Decreases Stock Holdings in Triple Flag Precious Metals Corp. $TFPM

Royal Bank of Canada lowered its stake in Triple Flag Precious Metals Corp. (NYSE:TFPM) by 16.8% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 82,242 shares of the company’s stock after selling 16,585 shares during the quarter. Royal Bank of Canada’s holdings in Triple Flag Precious Metals were worth $2,854,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Evelyn Partners Asset Management Ltd lifted its holdings in Triple Flag Precious Metals by 33.3% during the first quarter. Evelyn Partners Asset Management Ltd now owns 4,000 shares of the company’s stock valued at $139,000 after purchasing an additional 1,000 shares in the last quarter. Themes Management Co LLC increased its stake in shares of Triple Flag Precious Metals by 103.5% during the first quarter. Themes Management Co LLC now owns 14,591 shares of the company’s stock worth $507,000 after purchasing an additional 7,422 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of Triple Flag Precious Metals by 9.8% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 211,098 shares of the company’s stock worth $7,327,000 after purchasing an additional 18,843 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Triple Flag Precious Metals by 43.1% during the 1st quarter. Renaissance Technologies LLC now owns 26,481 shares of the company’s stock worth $919,000 after purchasing an additional 7,981 shares during the last quarter. Finally, Hilltop Holdings Inc. acquired a new position in shares of Triple Flag Precious Metals during the 1st quarter worth about $204,000. Hedge funds and other institutional investors own 82.91% of the company’s stock.

Triple Flag Precious Metals Stock Up 0.6%

Shares of TFPM opened at $31.47 on Friday. The company has a 50-day simple moving average of $29.47 and a 200-day simple moving average of $32.91. Triple Flag Precious Metals Corp. has a 52-week low of $24.75 and a 52-week high of $41.70. The company has a market capitalization of $6.48 billion, a PE ratio of 15.82, a P/E/G ratio of 2.82 and a beta of -0.18.

Triple Flag Precious Metals (NYSE:TFPM) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.06. The firm had revenue of $129.20 million for the quarter, compared to analysts’ expectations of $129.20 million. Triple Flag Precious Metals had a net margin of 84.32% and a return on equity of 14.09%. On average, research analysts anticipate that Triple Flag Precious Metals Corp. will post 1.4 EPS for the current year.

Triple Flag Precious Metals Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be issued 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 is Monday, August 31st. This represents a $0.24 annualized dividend and a yield of 0.8%. Triple Flag Precious Metals’s dividend payout ratio (DPR) is presently 11.56%.

Analyst Upgrades and Downgrades

TFPM has been the subject of several research reports. BMO Capital Markets reaffirmed a “market perform” rating on shares of Triple Flag Precious Metals in a research note on Friday, June 12th. Scotiabank lowered their target price on Triple Flag Precious Metals from $43.00 to $39.00 and set a “sector perform” rating for the company in a report on Tuesday, July 14th. Weiss Ratings downgraded Triple Flag Precious Metals from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, June 12th. Zacks Research upgraded shares of Triple Flag Precious Metals from a “strong sell” rating to a “hold” rating in a report on Monday, August 10th. Finally, Wall Street Zen lowered shares of Triple Flag Precious Metals from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Six investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $38.67.

Triple Flag Precious Metals Company 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.