The Manufacturers Life Insurance Company Acquires Shares of 82,960 Triple Flag Precious Metals Corp. $TFPM

The Manufacturers Life Insurance Company bought a new position in Triple Flag Precious Metals Corp. (NYSE:TFPM) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 82,960 shares of the company’s stock, valued at approximately $2,482,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in TFPM. Banque Cantonale Vaudoise purchased a new stake in shares of Triple Flag Precious Metals during the first quarter valued at approximately $33,000. Quarry LP bought a new position in Triple Flag Precious Metals in the 3rd quarter valued at approximately $33,000. EverSource Wealth Advisors LLC boosted its stake in Triple Flag Precious Metals by 120.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,217 shares of the company’s stock valued at $40,000 after purchasing an additional 664 shares during the last quarter. Fiduciary Financial Advisors bought a new stake in shares of Triple Flag Precious Metals in the 2nd quarter worth $47,000. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of Triple Flag Precious Metals by 160.0% during the second 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. Institutional investors own 82.91% of the company’s stock.

Triple Flag Precious Metals Price Performance

Shares of TFPM opened at $34.12 on Thursday. The stock has a market capitalization of $7.03 billion, a price-to-earnings ratio of 17.14, a price-to-earnings-growth ratio of 2.89 and a beta of -0.15. Triple Flag Precious Metals Corp. has a 1 year low of $26.61 and a 1 year high of $41.70. The business’s 50 day simple moving average is $30.62 and its 200-day simple moving average is $32.68.

Triple Flag Precious Metals (NYSE:TFPM) last posted its earnings results on Wednesday, August 5th. The company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $129.20 million during the quarter, compared to analyst estimates of $129.20 million. On average, sell-side analysts expect that Triple Flag Precious Metals Corp. will post 1.43 earnings per share for the current year.

Triple Flag Precious Metals Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Monday, August 31st. This is an increase from Triple Flag Precious Metals’s previous quarterly dividend of $0.06. Triple Flag Precious Metals’s dividend payout ratio is 12.06%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on TFPM shares. Bank of America decreased their target price on Triple Flag Precious Metals from $39.00 to $37.00 and set a “buy” rating for the company in a research report on Thursday, July 9th. Weiss Ratings downgraded Triple Flag Precious Metals from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, June 12th. Wall Street Zen cut Triple Flag Precious Metals from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Canaccord Genuity Group raised Triple Flag Precious Metals from a “hold” rating to a “buy” rating in a report on Friday, June 12th. Finally, Scotiabank dropped their price objective on shares of 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 analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $38.67.

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.