Tidal Investments LLC Has $88.40 Million Holdings in Triple Flag Precious Metals Corp. $TFPM

Tidal Investments LLC increased its holdings in Triple Flag Precious Metals Corp. (NYSE:TFPM) by 15.8% in the second quarter, HoldingsChannel reports. The firm owned 2,949,715 shares of the company’s stock after purchasing an additional 402,924 shares during the period. Tidal Investments LLC’s holdings in Triple Flag Precious Metals were worth $88,403,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of TFPM. Norges Bank bought a new position in Triple Flag Precious Metals during the fourth quarter valued at about $49,550,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Triple Flag Precious Metals during the 2nd quarter worth about $29,283,000. Vanguard Group Inc. increased its holdings in shares of Triple Flag Precious Metals by 1,619.6% during the 3rd quarter. Vanguard Group Inc. now owns 928,368 shares of the company’s stock valued at $27,177,000 after acquiring an additional 874,382 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Triple Flag Precious Metals by 39.9% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,642,566 shares of the company’s stock valued at $77,373,000 after acquiring an additional 753,923 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its holdings in shares of Triple Flag Precious Metals by 25.3% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 2,628,151 shares of the company’s stock valued at $76,908,000 after acquiring an additional 530,357 shares during the last quarter. 82.91% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently weighed in on TFPM. Weiss Ratings lowered Triple Flag Precious Metals from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, June 12th. Scotiabank lowered their price target 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. 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 report on Thursday, July 9th. Jefferies Financial Group reduced their price objective on shares of Triple Flag Precious Metals from $43.00 to $40.00 and set a “buy” rating for the company in a research note on Monday, July 6th. Finally, Canaccord Genuity Group raised shares of Triple Flag Precious Metals from a “hold” rating to a “buy” rating in a report on Friday, June 12th. Six investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $38.67.

Triple Flag Precious Metals Stock Performance

NYSE TFPM opened at $33.95 on Thursday. Triple Flag Precious Metals Corp. has a twelve month low of $26.61 and a twelve month high of $41.70. The stock has a market capitalization of $6.99 billion, a PE ratio of 17.06, a P/E/G ratio of 2.99 and a beta of -0.15. The stock has a 50-day simple moving average of $31.06 and a 200 day simple moving average of $32.60.

Triple Flag Precious Metals (NYSE:TFPM) last announced its earnings results on Wednesday, August 5th. The company reported $0.39 earnings per share for the quarter, beating 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%. As a group, equities research 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 disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be given a $0.06 dividend. This is a positive change from Triple Flag Precious Metals’s previous quarterly dividend of $0.06. This represents a $0.24 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Monday, August 31st. Triple Flag Precious Metals’s dividend payout ratio (DPR) is currently 12.06%.

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.