Connor Clark & Lunn Investment Management Ltd. Takes Position in Triple Flag Precious Metals Corp. $TFPM

by · The Markets Daily

Connor Clark & Lunn Investment Management Ltd. bought a new position in Triple Flag Precious Metals Corp. (NYSE:TFPM – Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 978,400 shares of the company’s stock, valued at approximately $29,283,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in TFPM. Banque Cantonale Vaudoise bought a new position in Triple Flag Precious Metals in the 1st quarter worth about $33,000. Quarry LP bought a new stake in shares of Triple Flag Precious Metals during the 3rd quarter valued at about $33,000. EverSource Wealth Advisors LLC grew its holdings in shares of Triple Flag Precious Metals by 120.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,217 shares of the company’s stock worth $40,000 after purchasing an additional 664 shares in the last quarter. Caitlin John LLC increased its position in shares of Triple Flag Precious Metals by 11.2% in the fourth quarter. Caitlin John LLC now owns 3,730 shares of the company’s stock worth $124,000 after purchasing an additional 375 shares during the last quarter. Finally, Evelyn Partners Asset Management Ltd lifted its position in Triple Flag Precious Metals by 33.3% during the first quarter. Evelyn Partners Asset Management Ltd now owns 4,000 shares of the company’s stock valued at $139,000 after purchasing an additional 1,000 shares during the last quarter. 82.91% of the stock is currently owned by hedge funds and other institutional investors.

Triple Flag Precious Metals Trading Up 2.8%

Shares of NYSE:TFPM opened at $34.73 on Tuesday. The company has a market cap of $7.15 billion, a price-to-earnings ratio of 17.45, a price-to-earnings-growth ratio of 2.99 and a beta of -0.17. Triple Flag Precious Metals Corp. has a 12 month low of $26.00 and a 12 month high of $41.70. The company has a 50-day moving average price of $29.99 and a 200-day moving average price of $32.72.

Triple Flag Precious Metals (NYSE:TFPM – Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.06. The business had revenue of $129.20 million during the quarter, compared to analyst estimates 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, 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 business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.7%. This is an increase 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%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on TFPM. Weiss Ratings lowered shares of 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 research report on Tuesday, July 14th. Wall Street Zen cut Triple Flag Precious Metals from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. Jefferies Financial Group dropped their target price on Triple Flag Precious Metals from $43.00 to $40.00 and set a “buy” rating for the company in a research report on Monday, July 6th. Finally, Canaccord Genuity Group raised Triple Flag Precious Metals from a “hold” rating to a “buy” rating in a research note on Friday, June 12th. Six analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Triple Flag Precious Metals currently has an average rating of “Moderate Buy” and a consensus price target of $38.67.

Check Out Our Latest Research Report on TFPM

Triple Flag Precious Metals Profile

(Free Report)

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.

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