Sun Valley Gold LLC purchased a new stake in Triple Flag Precious Metals Corp. (NYSE:TFPM – Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 630,258 shares of the company’s stock, valued at approximately $9,387,000. Triple Flag Precious Metals comprises 5.9% of Sun Valley Gold LLC’s investment portfolio, making the stock its 9th largest position. Sun Valley Gold LLC owned about 0.40% of Triple Flag Precious Metals at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. FMR LLC boosted its holdings in Triple Flag Precious Metals by 291.7% in the first quarter. FMR LLC now owns 3,916,800 shares of the company’s stock valued at $58,339,000 after purchasing an additional 2,916,800 shares during the last quarter. Van ECK Associates Corp acquired a new stake in Triple Flag Precious Metals during the first quarter valued at approximately $46,766,000. William Marsh Rice University acquired a new stake in Triple Flag Precious Metals during the fourth quarter valued at approximately $27,975,000. Ninety One UK Ltd acquired a new stake in Triple Flag Precious Metals during the first quarter valued at approximately $21,283,000. Finally, Norges Bank acquired a new stake in Triple Flag Precious Metals during the fourth quarter valued at approximately $9,694,000. Hedge funds and other institutional investors own 80.91% of the company’s stock.
Wall Street Analyst Weigh In
Several brokerages have issued reports on TFPM. Canaccord Genuity Group upgraded Triple Flag Precious Metals from a “hold” rating to a “buy” rating in a research note on Friday, June 9th. TD Securities cut their price objective on Triple Flag Precious Metals from C$28.00 to C$27.00 in a research note on Thursday, May 25th. National Bank Financial cut their price objective on Triple Flag Precious Metals from C$25.00 to C$24.00 in a research note on Friday, July 21st. Finally, Raymond James dropped their price target on Triple Flag Precious Metals from C$25.00 to C$24.00 in a research report on Thursday, August 24th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $23.08.
Check Out Our Latest Report on Triple Flag Precious Metals
Triple Flag Precious Metals Stock Performance
TFPM stock traded down $0.02 on Friday, reaching $13.72. The company’s stock had a trading volume of 79,783 shares, compared to its average volume of 197,244. Triple Flag Precious Metals Corp. has a 52 week low of $10.70 and a 52 week high of $17.33. The company has a market capitalization of $2.77 billion and a P/E ratio of 39.14. The firm has a fifty day moving average of $13.55 and a two-hundred day moving average of $14.22. The company has a debt-to-equity ratio of 0.04, a current ratio of 4.64 and a quick ratio of 4.64.
Triple Flag Precious Metals (NYSE:TFPM – Get Free Report) last issued its quarterly earnings data on Tuesday, August 8th. The company reported $0.09 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.09. The business had revenue of $52.60 million during the quarter, compared to analyst estimates of $56.00 million. Triple Flag Precious Metals had a return on equity of 3.99% and a net margin of 33.71%. As a group, analysts predict that Triple Flag Precious Metals Corp. will post 0.37 EPS for the current fiscal year.
Triple Flag Precious Metals Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Thursday, August 31st will be given a dividend of $0.0525 per share. This represents a $0.21 annualized dividend and a dividend yield of 1.53%. The ex-dividend date of this dividend is Wednesday, August 30th. Triple Flag Precious Metals’s dividend payout ratio (DPR) is presently 60.00%.
About Triple Flag Precious Metals
Triple Flag Precious Metals Corp., a gold-focused streaming and royalty company, engages in acquiring and managing precious metals and other streams and royalties in Australia, Canada, Colombia, Mongolia, Peru, South Africa, and the United States. The company has a portfolio of streams and royalties providing exposure primarily to gold and silver.
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