JPMorgan Chase & Co. Buys 79,655 Shares of Triple Flag Precious Metals Corp. $TFPM

JPMorgan Chase & Co. increased its position in Triple Flag Precious Metals Corp. (NYSE:TFPM) by 26.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 379,368 shares of the company’s stock after acquiring an additional 79,655 shares during the quarter. JPMorgan Chase & Co. owned about 0.18% of Triple Flag Precious Metals worth $11,100,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the company. HighTower Advisors LLC raised its position in shares of Triple Flag Precious Metals by 26.6% during the third quarter. HighTower Advisors LLC now owns 44,689 shares of the company’s stock valued at $1,308,000 after buying an additional 9,396 shares during the last quarter. Echo45 Advisors LLC bought a new stake in Triple Flag Precious Metals in the 3rd quarter valued at $215,000. Cibc World Market Inc. lifted its stake in Triple Flag Precious Metals by 2.1% in the 3rd quarter. Cibc World Market Inc. now owns 188,325 shares of the company’s stock worth $5,512,000 after purchasing an additional 3,855 shares in the last quarter. Profund Advisors LLC bought a new position in shares of Triple Flag Precious Metals during the 3rd quarter valued at about $253,000. Finally, Linden Thomas Advisory Services LLC purchased a new position in shares of Triple Flag Precious Metals during the third quarter valued at about $204,000. Hedge funds and other institutional investors own 82.91% of the company’s stock.

Triple Flag Precious Metals Stock Performance

NYSE TFPM opened at $38.15 on Friday. The business’s 50 day moving average price is $36.49 and its 200-day moving average price is $32.24. Triple Flag Precious Metals Corp. has a fifty-two week low of $17.26 and a fifty-two week high of $41.70. The company has a market cap of $7.88 billion, a P/E ratio of 32.33, a P/E/G ratio of 2.06 and a beta of -0.28.

Triple Flag Precious Metals (NYSE:TFPM) last posted its quarterly earnings data 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 company had revenue of $118.92 million during the quarter, compared to analyst estimates of $114.92 million. As a group, equities analysts predict that Triple Flag Precious Metals Corp. will post 0.71 EPS for the current year.

Triple Flag Precious Metals Announces Dividend

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 0.6%. Triple Flag Precious Metals’s payout ratio is currently 19.49%.

Analyst Upgrades and Downgrades

TFPM has been the topic of a number of research analyst reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Triple Flag Precious Metals in a research report on Wednesday, January 21st. Scotiabank upped their price objective on Triple Flag Precious Metals from $34.00 to $43.00 and gave the stock a “sector perform” rating in a report on Monday, January 26th. BMO Capital Markets reissued a “market perform” rating on shares of Triple Flag Precious Metals in a report on Thursday, January 15th. Wall Street Zen upgraded shares of Triple Flag Precious Metals from a “hold” rating to a “buy” rating in a research report on Saturday, February 21st. Finally, Zacks Research upgraded shares of Triple Flag Precious Metals from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 10th. One 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 company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $32.25.

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.