Assenagon Asset Management S.A. Invests $7.82 Million in Triple Flag Precious Metals Corp. $TFPM

Assenagon Asset Management S.A. purchased a new stake in shares of Triple Flag Precious Metals Corp. (NYSE:TFPM) during the 4th quarter, HoldingsChannel reports. The institutional investor purchased 235,281 shares of the company’s stock, valued at approximately $7,816,000.

Other large investors have also recently added to or reduced their stakes in the company. Hillsdale Investment Management Inc. raised its holdings in Triple Flag Precious Metals by 82.4% in the 3rd quarter. Hillsdale Investment Management Inc. now owns 245,000 shares of the company’s stock valued at $7,170,000 after buying an additional 110,700 shares during the period. Csenge Advisory Group purchased a new position in Triple Flag Precious Metals during the third quarter worth about $1,371,000. Orion Porfolio Solutions LLC boosted its stake in Triple Flag Precious Metals by 215.1% during the second quarter. Orion Porfolio Solutions LLC now owns 81,856 shares of the company’s stock worth $1,939,000 after buying an additional 55,878 shares during the period. Euro Pacific Asset Management LLC acquired a new stake in shares of Triple Flag Precious Metals during the third quarter valued at about $15,322,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Triple Flag Precious Metals during the third quarter valued at about $1,003,000. 82.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on TFPM. Wall Street Zen upgraded shares of Triple Flag Precious Metals from a “hold” rating to a “buy” rating in a report on Saturday, February 21st. Zacks Research upgraded shares of Triple Flag Precious Metals from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 11th. Scotiabank boosted their target price on Triple Flag Precious Metals from $34.00 to $43.00 and gave the company a “sector perform” rating in a research report on Monday, January 26th. Weiss Ratings restated a “buy (b)” rating on shares of Triple Flag Precious Metals in a research note on Wednesday, January 21st. Finally, Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Triple Flag Precious Metals in a research report on Wednesday, February 4th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, Triple Flag Precious Metals presently has an average rating of “Moderate Buy” and a consensus target price of $32.25.

Triple Flag Precious Metals Stock Performance

NYSE TFPM opened at $32.77 on Friday. The firm has a 50 day simple moving average of $36.51 and a 200-day simple moving average of $33.17. Triple Flag Precious Metals Corp. has a one year low of $17.72 and a one year high of $41.70. The firm has a market cap of $6.77 billion, a price-to-earnings ratio of 27.77, a PEG ratio of 1.89 and a beta of -0.28.

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

Triple Flag Precious Metals Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 2nd were paid a $0.0575 dividend. The ex-dividend date was Monday, March 2nd. This represents a $0.23 annualized dividend and a dividend yield of 0.7%. Triple Flag Precious Metals’s payout ratio is 19.49%.

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.