165,768 Shares in Triple Flag Precious Metals Corp. $TFPM Purchased by Cibc World Market Inc.

Cibc World Market Inc. bought a new position in Triple Flag Precious Metals Corp. (NYSE:TFPM) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 165,768 shares of the company’s stock, valued at approximately $4,962,000. Cibc World Market Inc. owned 0.08% of Triple Flag Precious Metals at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the company. Public Employees Retirement System of Ohio lifted its position in shares of Triple Flag Precious Metals by 2.2% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 16,751 shares of the company’s stock valued at $491,000 after acquiring an additional 368 shares in the last quarter. Caitlin John LLC raised its stake in Triple Flag Precious Metals by 11.2% during the 4th quarter. Caitlin John LLC now owns 3,730 shares of the company’s stock valued at $124,000 after purchasing an additional 375 shares during the period. Parvin Asset Management LLC lifted its holdings in shares of Triple Flag Precious Metals by 1.7% in the third quarter. Parvin Asset Management LLC now owns 38,940 shares of the company’s stock valued at $1,139,000 after purchasing an additional 650 shares in the last quarter. Cetera Investment Advisers boosted its position in shares of Triple Flag Precious Metals by 9.2% in the first quarter. Cetera Investment Advisers now owns 7,784 shares of the company’s stock worth $270,000 after buying an additional 655 shares during the period. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Triple Flag Precious Metals by 120.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,217 shares of the company’s stock valued at $40,000 after buying an additional 664 shares in the last quarter. 82.91% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on TFPM shares. Weiss Ratings cut Triple Flag Precious Metals from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, June 12th. Bank of America dropped their price target on shares of Triple Flag Precious Metals from $39.00 to $37.00 and set a “buy” rating on the stock in a research note on Thursday, July 9th. Wall Street Zen lowered Triple Flag Precious Metals from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Jefferies Financial Group reduced their price target on Triple Flag Precious Metals from $43.00 to $40.00 and set a “buy” rating for the company in a report on Monday, July 6th. Finally, Scotiabank dropped their price objective on Triple Flag Precious Metals from $43.00 to $39.00 and set a “sector perform” rating on the stock in a report on Tuesday, July 14th. Six equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Triple Flag Precious Metals currently has an average rating of “Moderate Buy” and a consensus price target of $38.67.

Triple Flag Precious Metals Stock Performance

Shares of TFPM stock opened at $35.72 on Wednesday. Triple Flag Precious Metals Corp. has a twelve month low of $26.00 and a twelve month high of $41.70. The company has a market capitalization of $7.36 billion, a price-to-earnings ratio of 17.95, a PEG ratio of 3.07 and a beta of -0.18. The stock’s 50 day simple moving average is $30.08 and its 200 day simple moving average is $32.72.

Triple Flag Precious Metals (NYSE:TFPM) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.06. The company had revenue of $129.20 million for the quarter, compared to the consensus estimate of $129.20 million. Triple Flag Precious Metals had a return on equity of 14.09% and a net margin of 84.32%. On average, analysts forecast that Triple Flag Precious Metals Corp. will post 1.43 EPS for the current fiscal year.

Triple Flag Precious Metals Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be issued a $0.06 dividend. This is an increase from Triple Flag Precious Metals’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Monday, August 31st. This represents a $0.24 dividend on an annualized basis and a yield of 0.7%. Triple Flag Precious Metals’s payout ratio is 11.56%.

About Triple Flag Precious Metals

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.