Triple Flag Precious Metals Corp. $TFPM Stake Boosted by TD Asset Management Inc

TD Asset Management Inc increased its stake in Triple Flag Precious Metals Corp. (NYSE:TFPM) by 9.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 671,542 shares of the company’s stock after purchasing an additional 58,924 shares during the period. TD Asset Management Inc owned 0.33% of Triple Flag Precious Metals worth $19,663,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in Triple Flag Precious Metals in the second quarter valued at $24,816,000. Vanguard Group Inc. lifted its position in Triple Flag Precious Metals by 1,619.6% in the 3rd quarter. Vanguard Group Inc. now owns 928,368 shares of the company’s stock valued at $27,177,000 after purchasing an additional 874,382 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position 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. Euro Pacific Asset Management LLC acquired a new position in Triple Flag Precious Metals during the 3rd quarter valued at about $15,322,000. Finally, JPMorgan Chase & Co. grew its position in Triple Flag Precious Metals by 741.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 299,713 shares of the company’s stock worth $7,100,000 after purchasing an additional 264,082 shares during the last quarter. 82.91% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on TFPM. BMO Capital Markets reaffirmed a “market perform” rating on shares of Triple Flag Precious Metals in a report on Thursday, January 15th. Zacks Research upgraded Triple Flag Precious Metals from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 10th. Scotiabank increased their price target on Triple Flag Precious Metals from $34.00 to $43.00 and gave the stock a “sector perform” rating in a research note on Monday, January 26th. Wall Street Zen upgraded shares of Triple Flag Precious Metals from a “hold” rating to a “buy” rating in a research note on Saturday, February 21st. Finally, Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Triple Flag Precious Metals in a report on Wednesday, February 4th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, Triple Flag Precious Metals presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.25.

Triple Flag Precious Metals Stock Up 2.2%

Shares of Triple Flag Precious Metals stock opened at $41.28 on Friday. The business has a fifty day simple moving average of $36.15 and a 200-day simple moving average of $31.91. Triple Flag Precious Metals Corp. has a fifty-two week low of $16.40 and a fifty-two week high of $41.39. The firm has a market cap of $8.53 billion, a price-to-earnings ratio of 34.98, a price-to-earnings-growth ratio of 1.12 and a beta of -0.21.

Triple Flag Precious Metals (NYSE:TFPM) last issued its quarterly earnings results on Wednesday, February 18th. The company reported $0.33 EPS for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $114.92 million. Analysts anticipate that Triple Flag Precious Metals Corp. will post 0.71 earnings per share for the current fiscal year.

Triple Flag Precious Metals Dividend Announcement

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

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.