SCS Capital Management LLC Purchases New Holdings in Triple Flag Precious Metals Corp. $TFPM

SCS Capital Management LLC purchased a new stake in Triple Flag Precious Metals Corp. (NYSE:TFPM) in the 2nd quarter, HoldingsChannel.com reports. The fund purchased 167,190 shares of the company’s stock, valued at approximately $5,011,000.

Other hedge funds also recently modified their holdings of the company. Norges Bank bought a new stake in shares of Triple Flag Precious Metals during the fourth quarter valued at approximately $49,550,000. Tidal Investments LLC lifted its position in Triple Flag Precious Metals by 59.5% in the third quarter. Tidal Investments LLC now owns 2,396,198 shares of the company’s stock worth $70,113,000 after purchasing an additional 893,566 shares during the period. Vanguard Group Inc. lifted its position in Triple Flag Precious Metals by 1,619.6% in the third quarter. Vanguard Group Inc. now owns 928,368 shares of the company’s stock worth $27,177,000 after purchasing an additional 874,382 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Triple Flag Precious Metals by 39.9% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,642,566 shares of the company’s stock worth $77,373,000 after buying an additional 753,923 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its stake in Triple Flag Precious Metals by 25.3% during the third quarter. Arrowstreet Capital Limited Partnership now owns 2,628,151 shares of the company’s stock worth $76,908,000 after buying an additional 530,357 shares in the last quarter. Institutional investors own 82.91% of the company’s stock.

Wall Street Analyst Weigh In

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

Triple Flag Precious Metals Stock Performance

Shares of NYSE TFPM opened at $31.47 on Monday. Triple Flag Precious Metals Corp. has a 52-week low of $24.75 and a 52-week high of $41.70. The business has a fifty day moving average of $29.47 and a two-hundred day moving average of $32.87. The stock has a market cap of $6.48 billion, a PE ratio of 15.82, a PEG ratio of 2.83 and a beta of -0.17.

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, topping the consensus estimate of $0.33 by $0.06. The business had revenue of $129.20 million for the quarter, compared to analyst estimates of $129.20 million. Triple Flag Precious Metals had a net margin of 84.32% and a return on equity of 14.09%. Analysts predict that Triple Flag Precious Metals Corp. will post 1.4 earnings per share for the current year.

Triple Flag Precious Metals Increases Dividend

The company 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. This represents a $0.24 dividend on an annualized basis and a yield of 0.8%. This is a boost from Triple Flag Precious Metals’s previous quarterly dividend of $0.06. The ex-dividend date is Monday, August 31st. Triple Flag Precious Metals’s dividend payout ratio (DPR) is presently 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.