Vestcor Inc Reduces Holdings in Triple Flag Precious Metals Corp. $TFPM

Vestcor Inc lowered its position in Triple Flag Precious Metals Corp. (NYSE:TFPM) by 19.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 76,200 shares of the company’s stock after selling 18,200 shares during the quarter. Vestcor Inc’s holdings in Triple Flag Precious Metals were worth $2,230,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bessemer Group Inc. acquired a new stake in shares of Triple Flag Precious Metals during the third quarter valued at about $27,000. Employees Retirement System of Texas acquired a new position in shares of Triple Flag Precious Metals in the second quarter worth about $36,000. SBI Securities Co. Ltd. lifted its stake in shares of Triple Flag Precious Metals by 100.6% in the third quarter. SBI Securities Co. Ltd. now owns 1,408 shares of the company’s stock worth $41,000 after acquiring an additional 706 shares in the last quarter. Caitlin John LLC purchased a new position in Triple Flag Precious Metals in the third quarter valued at about $98,000. Finally, Tower Research Capital LLC TRC grew its stake in Triple Flag Precious Metals by 160.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,015 shares of the company’s stock valued at $119,000 after purchasing an additional 3,086 shares in the last quarter. 82.91% of the stock is owned by hedge funds and other institutional investors.

Triple Flag Precious Metals Stock Down 2.4%

Shares of Triple Flag Precious Metals stock opened at $38.20 on Thursday. The business has a 50-day moving average price of $36.89 and a 200 day moving average price of $32.65. Triple Flag Precious Metals Corp. has a fifty-two week low of $17.72 and a fifty-two week high of $41.70. The firm has a market cap of $7.89 billion, a P/E ratio of 32.37, a P/E/G ratio of 2.02 and a beta of -0.28.

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

Triple Flag Precious Metals Dividend Announcement

The company also recently disclosed 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 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 (DPR) is 19.49%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Triple Flag Precious Metals in a report on Wednesday, February 4th. Scotiabank increased their target price on Triple Flag Precious Metals from $34.00 to $43.00 and gave the company a “sector perform” rating in a research note on Monday, January 26th. Wall Street Zen raised shares of Triple Flag Precious Metals from a “hold” rating to a “buy” rating in a research report on Saturday, February 21st. BMO Capital Markets restated a “market perform” rating on shares of Triple Flag Precious Metals in a research note on Thursday, January 15th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Triple Flag Precious Metals in a report on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.25.

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.