Spark Investment Management LLC Cuts Stake in Triple Flag Precious Metals Corp. $TFPM

Spark Investment Management LLC decreased its stake in shares of Triple Flag Precious Metals Corp. (NYSE:TFPM) by 46.3% during the fourth quarter, HoldingsChannel reports. The firm owned 58,000 shares of the company’s stock after selling 50,000 shares during the quarter. Triple Flag Precious Metals accounts for approximately 4.8% of Spark Investment Management LLC’s holdings, making the stock its 8th biggest position. Spark Investment Management LLC’s holdings in Triple Flag Precious Metals were worth $1,927,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of TFPM. Clearbridge Investments LLC lifted its position in Triple Flag Precious Metals by 213.3% during the 4th quarter. Clearbridge Investments LLC now owns 177,929 shares of the company’s stock valued at $5,911,000 after acquiring an additional 121,137 shares during the period. TD Asset Management Inc lifted its position in Triple Flag Precious Metals by 9.4% during the 4th quarter. TD Asset Management Inc now owns 734,670 shares of the company’s stock valued at $24,445,000 after acquiring an additional 63,128 shares during the period. CIBC Asset Management Inc lifted its position in Triple Flag Precious Metals by 5.6% during the 4th quarter. CIBC Asset Management Inc now owns 65,018 shares of the company’s stock valued at $2,162,000 after acquiring an additional 3,447 shares during the period. Norges Bank purchased a new position in Triple Flag Precious Metals during the 4th quarter valued at about $49,550,000. Finally, Lummis Asset Management LP lifted its position in Triple Flag Precious Metals by 33.7% during the 4th quarter. Lummis Asset Management LP now owns 131,421 shares of the company’s stock valued at $4,366,000 after acquiring an additional 33,115 shares during the period. Institutional investors own 82.91% of the company’s stock.

Triple Flag Precious Metals Stock Performance

Shares of Triple Flag Precious Metals stock opened at $28.27 on Monday. The company has a market capitalization of $5.84 billion, a P/E ratio of 18.72, a P/E/G ratio of 5.18 and a beta of -0.22. The company has a fifty day moving average of $33.22 and a 200 day moving average of $34.54. Triple Flag Precious Metals Corp. has a fifty-two week low of $22.60 and a fifty-two week high of $41.70.

Triple Flag Precious Metals (NYSE:TFPM) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.02. Triple Flag Precious Metals had a net margin of 68.68% and a return on equity of 12.90%. The firm had revenue of $147.00 million during the quarter, compared to the consensus estimate of $147.00 million. Analysts forecast that Triple Flag Precious Metals Corp. will post 1.43 EPS for the current year.

Triple Flag Precious Metals Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be issued a dividend of $0.0575 per share. This represents a $0.23 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Monday, June 1st. Triple Flag Precious Metals’s dividend payout ratio (DPR) is presently 15.23%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on TFPM. Zacks Research cut shares of Triple Flag Precious Metals from a “strong-buy” rating to a “hold” rating in a report on Thursday, April 9th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Triple Flag Precious Metals in a report on Monday, April 20th. Finally, Wall Street Zen cut shares of Triple Flag Precious Metals from a “buy” rating to a “hold” rating in a report on Saturday. Five investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $40.00.

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.