SCS Capital Management LLC Invests $5.01 Million in Triple Flag Precious Metals Corp. $TFPM

SCS Capital Management LLC acquired a new stake in shares of Triple Flag Precious Metals Corp. (NYSE:TFPM) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 167,190 shares of the company’s stock, valued at approximately $5,011,000. SCS Capital Management LLC owned about 0.08% of Triple Flag Precious Metals as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Silverlake Wealth Management LLC bought a new stake in Triple Flag Precious Metals during the second quarter worth approximately $478,000. Pecaut & CO. bought a new position in shares of Triple Flag Precious Metals in the second quarter valued at approximately $210,000. Bank of America Corp DE raised its position in shares of Triple Flag Precious Metals by 30.7% in the first quarter. Bank of America Corp DE now owns 495,404 shares of the company’s stock valued at $17,195,000 after purchasing an additional 116,421 shares during the period. Amundi lifted its stake in shares of Triple Flag Precious Metals by 5.7% in the first quarter. Amundi now owns 482,534 shares of the company’s stock worth $16,828,000 after buying an additional 25,936 shares during the last quarter. Finally, Parvin Asset Management LLC lifted its stake in shares of Triple Flag Precious Metals by 2.0% in the first quarter. Parvin Asset Management LLC now owns 39,965 shares of the company’s stock worth $1,387,000 after buying an additional 800 shares during the last quarter. 82.91% of the stock is currently owned by institutional investors and hedge funds.

Triple Flag Precious Metals Stock Up 0.0%

Shares of TFPM stock opened at $31.47 on Monday. Triple Flag Precious Metals Corp. has a 12 month low of $24.75 and a 12 month high of $41.70. The firm has a market cap of $6.48 billion, a PE ratio of 15.82, a price-to-earnings-growth ratio of 2.83 and a beta of -0.17. The stock has a 50 day moving average of $29.47 and a 200-day moving average of $32.87.

Triple Flag Precious Metals (NYSE:TFPM) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.39 earnings per share (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 business had revenue of $129.20 million for the quarter, compared to the consensus estimate of $129.20 million. As a group, equities analysts predict that Triple Flag Precious Metals Corp. will post 1.4 EPS for the current fiscal year.

Triple Flag Precious Metals Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be given a $0.06 dividend. The ex-dividend date is Monday, August 31st. This represents a $0.24 annualized dividend and a yield of 0.8%. This is a positive change from Triple Flag Precious Metals’s previous quarterly dividend of $0.06. Triple Flag Precious Metals’s dividend payout ratio (DPR) is 11.56%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on TFPM shares. BMO Capital Markets reiterated a “market perform” rating on shares of Triple Flag Precious Metals in a research note on Friday, June 12th. Jefferies Financial Group cut their target price on shares of Triple Flag Precious Metals from $43.00 to $40.00 and set a “buy” rating for the company in a research report on Monday, July 6th. Canaccord Genuity Group upgraded shares of Triple Flag Precious Metals from a “hold” rating to a “buy” rating in a report on Friday, June 12th. Scotiabank lowered their price target on Triple Flag Precious Metals from $43.00 to $39.00 and set a “sector perform” rating on the stock in a research report on Tuesday, July 14th. Finally, Wall Street Zen downgraded Triple Flag Precious Metals from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Six analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $38.67.

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.