Van ECK Associates Corp Purchases 250,123 Shares of Triple Flag Precious Metals Corp. $TFPM

Van ECK Associates Corp boosted its position in Triple Flag Precious Metals Corp. (NYSE:TFPM) by 10.8% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 2,555,954 shares of the company’s stock after buying an additional 250,123 shares during the period. Van ECK Associates Corp’s holdings in Triple Flag Precious Metals were worth $75,244,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also bought and sold shares of TFPM. Bessemer Group Inc. acquired a new stake in shares of Triple Flag Precious Metals in the third quarter valued at approximately $27,000. Employees Retirement System of Texas acquired a new position in Triple Flag Precious Metals in the 2nd quarter valued at $36,000. SBI Securities Co. Ltd. lifted its position in shares of Triple Flag Precious Metals by 100.6% during the 3rd quarter. SBI Securities Co. Ltd. now owns 1,408 shares of the company’s stock valued at $41,000 after acquiring an additional 706 shares during the period. Caitlin John LLC acquired a new stake in shares of Triple Flag Precious Metals during the 3rd quarter worth $98,000. Finally, Tower Research Capital LLC TRC grew its holdings in shares of Triple Flag Precious Metals by 160.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,015 shares of the company’s stock worth $119,000 after purchasing an additional 3,086 shares in the last quarter. 82.91% of the stock is owned by institutional investors.

Triple Flag Precious Metals Trading Up 0.2%

Shares of TFPM stock opened at $39.07 on Wednesday. The firm has a market capitalization of $8.07 billion, a price-to-earnings ratio of 33.11, a PEG ratio of 2.01 and a beta of -0.28. The business’s 50-day moving average price is $36.79 and its 200-day moving average price is $32.61. Triple Flag Precious Metals Corp. has a 12 month low of $17.53 and a 12 month high of $41.70.

Triple Flag Precious Metals (NYSE:TFPM) last posted its earnings results on Wednesday, February 18th. The company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.01. The firm had revenue of $118.92 million for the quarter, compared to analyst estimates of $114.92 million. Triple Flag Precious Metals had a net margin of 61.74% and a return on equity of 10.82%. On average, sell-side analysts predict that Triple Flag Precious Metals Corp. will post 0.71 earnings per share for the current fiscal year.

Triple Flag Precious Metals Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 2nd will be paid a $0.0575 dividend. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $0.23 annualized dividend and a dividend yield of 0.6%. Triple Flag Precious Metals’s dividend payout ratio is presently 19.49%.

Wall Street Analyst Weigh In

TFPM has been the subject of a number of analyst reports. Wall Street Zen raised Triple Flag Precious Metals from a “hold” rating to a “buy” rating in a research note on Saturday, February 21st. Weiss Ratings restated a “buy (b)” rating on shares of Triple Flag Precious Metals in a research report on Wednesday, January 21st. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Triple Flag Precious Metals in a report on Wednesday, February 4th. BMO Capital Markets reaffirmed a “market perform” rating on shares of Triple Flag Precious Metals in a report on Thursday, January 15th. Finally, Scotiabank lifted their price target on Triple Flag Precious Metals from $34.00 to $43.00 and gave the company a “sector perform” rating in a research note on Monday, January 26th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Triple Flag Precious Metals has a consensus rating of “Moderate Buy” and an average price target of $32.25.

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.