JPMorgan Chase & Co. Purchases 79,655 Shares of Triple Flag Precious Metals Corp. $TFPM

JPMorgan Chase & Co. raised its position in Triple Flag Precious Metals Corp. (NYSE:TFPM) by 26.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 379,368 shares of the company’s stock after purchasing an additional 79,655 shares during the quarter. JPMorgan Chase & Co. owned 0.18% of Triple Flag Precious Metals worth $11,100,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Goldman Sachs Group Inc. grew its stake in shares of Triple Flag Precious Metals by 69.8% during the first quarter. Goldman Sachs Group Inc. now owns 305,826 shares of the company’s stock valued at $5,857,000 after buying an additional 125,746 shares during the last quarter. Legal & General Group Plc lifted its stake in shares of Triple Flag Precious Metals by 4.0% during the 2nd quarter. Legal & General Group Plc now owns 61,831 shares of the company’s stock worth $1,463,000 after acquiring an additional 2,352 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of Triple Flag Precious Metals by 11.0% during the 2nd quarter. American Century Companies Inc. now owns 267,640 shares of the company’s stock worth $6,346,000 after acquiring an additional 26,569 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in Triple Flag Precious Metals by 6.9% during the 2nd quarter. Russell Investments Group Ltd. now owns 30,537 shares of the company’s stock valued at $723,000 after acquiring an additional 1,976 shares during the period. Finally, Employees Retirement System of Texas purchased a new position in Triple Flag Precious Metals during the 2nd quarter valued at $36,000. Institutional investors own 82.91% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on TFPM. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Triple Flag Precious Metals in a research note on Wednesday, February 4th. Weiss Ratings restated a “buy (b)” rating on shares of Triple Flag Precious Metals in a report on Wednesday, January 21st. Scotiabank raised their price target on shares of Triple Flag Precious Metals from $34.00 to $43.00 and gave the stock a “sector perform” rating in a research note on Monday, January 26th. BMO Capital Markets reiterated a “market perform” rating on shares of Triple Flag Precious Metals in a report on Thursday, January 15th. Finally, Zacks Research raised shares of Triple Flag Precious Metals from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 11th. Two 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $32.25.

Triple Flag Precious Metals Trading Up 3.6%

Shares of TFPM stock opened at $32.77 on Friday. Triple Flag Precious Metals Corp. has a twelve month low of $17.72 and a twelve month high of $41.70. The stock has a fifty day simple moving average of $36.51 and a two-hundred day simple moving average of $33.17. The stock has a market capitalization of $6.77 billion, a price-to-earnings ratio of 27.77, a P/E/G ratio of 1.89 and a beta of -0.28.

Triple Flag Precious Metals (NYSE:TFPM) last announced its quarterly earnings results on Wednesday, February 18th. The company reported $0.33 EPS for the quarter, beating the consensus estimate 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 return on equity of 10.82% and a net margin of 61.74%. Research 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. Stockholders of record on Monday, March 2nd were issued 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 currently 19.49%.

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.