64,036 Shares in Triple Flag Precious Metals Corp. $TFPM Bought by Legal & General Group Plc

Legal & General Group Plc purchased a new position in shares of Triple Flag Precious Metals Corp. (NYSE:TFPM) during the 2nd quarter, Holdings Channel.com reports. The fund purchased 64,036 shares of the company’s stock, valued at approximately $1,918,000.

A number of other large investors have also recently added to or reduced their stakes in TFPM. Banque Cantonale Vaudoise bought a new position in shares of Triple Flag Precious Metals in the 1st quarter valued at about $33,000. Quarry LP bought a new stake in shares of Triple Flag Precious Metals in the 3rd quarter valued at about $33,000. EverSource Wealth Advisors LLC raised its holdings in shares of Triple Flag Precious Metals by 120.1% in 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 period. Fiduciary Financial Advisors acquired a new stake in Triple Flag Precious Metals in the 2nd quarter valued at about $47,000. Finally, Caitlin John LLC lifted its stake in Triple Flag Precious Metals by 11.2% in 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 last quarter. Institutional investors and hedge funds own 82.91% of the company’s stock.

Triple Flag Precious Metals Stock Up 0.1%

NYSE:TFPM opened at $33.95 on Monday. Triple Flag Precious Metals Corp. has a twelve month low of $26.61 and a twelve month high of $41.70. The stock’s 50-day simple moving average is $30.83 and its 200 day simple moving average is $32.65. The firm has a market capitalization of $6.99 billion, a PE ratio of 17.06, a price-to-earnings-growth ratio of 3.00 and a beta of -0.15.

Triple Flag Precious Metals (NYSE:TFPM) last issued its earnings results on Wednesday, August 5th. The company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.33 by $0.06. The firm had revenue of $129.20 million during 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 anticipate that Triple Flag Precious Metals Corp. will post 1.43 EPS for the current fiscal year.

Triple Flag Precious Metals Increases Dividend

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

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. BMO Capital Markets reaffirmed a “market perform” rating on shares of Triple Flag Precious Metals in a report on Friday, June 12th. Wall Street Zen downgraded shares of Triple Flag Precious Metals from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. Jefferies Financial Group dropped their price objective on shares of Triple Flag Precious Metals from $43.00 to $40.00 and set a “buy” rating on the stock in a research report on Monday, July 6th. 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. Finally, Zacks Research upgraded shares of Triple Flag Precious Metals from a “strong sell” rating to a “hold” rating in a research note on Monday, August 10th. Six research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Triple Flag Precious Metals currently has a consensus rating of “Moderate Buy” and an average target price 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.