Legal & General Group Plc Makes New $1.92 Million Investment in Triple Flag Precious Metals Corp. $TFPM

Legal & General Group Plc bought a new stake in Triple Flag Precious Metals Corp. (NYSE:TFPM) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 64,036 shares of the company’s stock, valued at approximately $1,918,000.

Several other large investors also recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Triple Flag Precious Metals by 39.9% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,642,566 shares of the company’s stock valued at $77,373,000 after purchasing an additional 753,923 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in Triple Flag Precious Metals by 25.3% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 2,628,151 shares of the company’s stock worth $76,908,000 after purchasing an additional 530,357 shares in the last quarter. Tidal Investments LLC raised its holdings in Triple Flag Precious Metals by 59.5% during the 3rd quarter. Tidal Investments LLC now owns 2,396,198 shares of the company’s stock worth $70,113,000 after buying an additional 893,566 shares during the period. Vanguard Group Inc. raised its holdings in Triple Flag Precious Metals by 82.2% during the 4th quarter. Vanguard Group Inc. now owns 1,691,194 shares of the company’s stock worth $56,198,000 after buying an additional 762,826 shares during the period. Finally, Norges Bank bought a new position in Triple Flag Precious Metals in the fourth quarter valued at approximately $49,550,000. 82.91% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. 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. 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 research note on Friday, June 12th. BMO Capital Markets restated a “market perform” rating on shares of Triple Flag Precious Metals in a report on Friday, June 12th. Finally, Canaccord Genuity Group raised Triple Flag Precious Metals from a “hold” rating to a “buy” rating in a research report on Friday, June 12th. Six equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $38.67.

Triple Flag Precious Metals Trading Up 0.1%

Shares of TFPM stock opened at $33.95 on Monday. Triple Flag Precious Metals Corp. has a 1 year low of $26.61 and a 1 year high of $41.70. The firm’s fifty day moving average price is $30.83 and its two-hundred day moving average price is $32.65. The firm has a market capitalization of $6.99 billion, a P/E ratio of 17.06, a PEG ratio of 3.00 and a beta of -0.15.

Triple Flag Precious Metals (NYSE:TFPM) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.33 by $0.06. Triple Flag Precious Metals had a net margin of 84.32% and a return on equity of 14.09%. The firm had revenue of $129.20 million for the quarter, compared to analysts’ expectations of $129.20 million. As a group, 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 business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be issued a dividend of $0.06 per share. The ex-dividend date is Monday, August 31st. This is a boost from Triple Flag Precious Metals’s previous quarterly dividend of $0.06. This represents a $0.24 annualized dividend and a yield of 0.7%. Triple Flag Precious Metals’s dividend payout ratio is currently 12.06%.

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.