Triple Flag Precious Metals Corp. $TFPM Shares Sold by Lummis Asset Management LP

Lummis Asset Management LP lessened its position in Triple Flag Precious Metals Corp. (NYSE:TFPM) by 40.5% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 98,306 shares of the company’s stock after selling 66,910 shares during the quarter. Triple Flag Precious Metals makes up about 1.9% of Lummis Asset Management LP’s portfolio, making the stock its 18th largest holding. Lummis Asset Management LP’s holdings in Triple Flag Precious Metals were worth $2,876,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in TFPM. Arrowstreet Capital Limited Partnership raised its stake in Triple Flag Precious Metals by 67.4% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 2,097,794 shares of the company’s stock valued at $49,731,000 after purchasing an additional 844,765 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Triple Flag Precious Metals by 14.5% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,888,643 shares of the company’s stock worth $44,694,000 after buying an additional 239,670 shares in the last quarter. Norges Bank acquired a new stake in shares of Triple Flag Precious Metals in the second quarter valued at about $24,816,000. Mackenzie Financial Corp lifted its stake in shares of Triple Flag Precious Metals by 15.5% in the second quarter. Mackenzie Financial Corp now owns 964,756 shares of the company’s stock worth $22,891,000 after buying an additional 129,516 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of Triple Flag Precious Metals by 1,619.6% in the third quarter. Vanguard Group Inc. now owns 928,368 shares of the company’s stock worth $27,177,000 after buying an additional 874,382 shares in the last quarter. 82.91% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TFPM has been the topic of a number of research reports. Weiss Ratings reissued a “buy (b)” rating on shares of Triple Flag Precious Metals in a research note on Wednesday, January 21st. BMO Capital Markets restated a “market perform” rating on shares of Triple Flag Precious Metals in a report on Thursday, January 15th. Wall Street Zen upgraded Triple Flag Precious Metals from a “hold” rating to a “buy” rating in a report on Saturday. Scotiabank upped their price objective on shares of Triple Flag Precious Metals from $34.00 to $43.00 and gave the company a “sector perform” rating in a report on Monday, January 26th. Finally, Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Triple Flag Precious Metals in a research report on Wednesday, February 4th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $32.25.

Triple Flag Precious Metals Stock Performance

Shares of TFPM stock opened at $39.10 on Wednesday. The firm has a market cap of $8.08 billion, a P/E ratio of 33.13, a P/E/G ratio of 1.04 and a beta of -0.21. The firm’s 50 day moving average price is $35.74 and its 200-day moving average price is $31.66. Triple Flag Precious Metals Corp. has a one year low of $16.40 and a one year high of $40.29.

Triple Flag Precious Metals (NYSE:TFPM) last posted its earnings results on Wednesday, February 18th. The company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.01. Triple Flag Precious Metals had a net margin of 61.74% and a return on equity of 10.82%. The firm had revenue of $118.92 million during the quarter, compared to the consensus estimate of $114.92 million. As a group, research analysts predict that Triple Flag Precious Metals Corp. will post 0.71 EPS for the current fiscal year.

Triple Flag Precious Metals Announces Dividend

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

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.