Russell Investments Group Ltd. Boosts Holdings in Triple Flag Precious Metals Corp. (NYSE:TFPM)

Russell Investments Group Ltd. raised its holdings in Triple Flag Precious Metals Corp. (NYSE:TFPM) by 529.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,558 shares of the company’s stock after buying an additional 21,500 shares during the quarter. Russell Investments Group Ltd.’s holdings in Triple Flag Precious Metals were worth $380,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TFPM. Van ECK Associates Corp purchased a new stake in shares of Triple Flag Precious Metals during the 1st quarter worth about $46,766,000. William Marsh Rice University purchased a new stake in shares of Triple Flag Precious Metals during the 4th quarter worth about $27,975,000. Ninety One UK Ltd purchased a new stake in shares of Triple Flag Precious Metals during the 1st quarter worth about $21,283,000. Norges Bank purchased a new stake in shares of Triple Flag Precious Metals during the 4th quarter worth about $9,694,000. Finally, PCJ Investment Counsel Ltd. purchased a new stake in shares of Triple Flag Precious Metals during the 1st quarter worth about $4,280,000. Hedge funds and other institutional investors own 80.91% of the company’s stock.

Triple Flag Precious Metals Stock Performance

Shares of TFPM opened at $13.66 on Monday. The business’s 50 day moving average is $13.56 and its two-hundred day moving average is $14.22. Triple Flag Precious Metals Corp. has a 52-week low of $10.70 and a 52-week high of $17.33. The firm has a market cap of $2.75 billion and a price-to-earnings ratio of 39.03. The company has a quick ratio of 4.64, a current ratio of 4.64 and a debt-to-equity ratio of 0.04.

Triple Flag Precious Metals (NYSE:TFPM) last announced its earnings results on Tuesday, August 8th. The company reported $0.09 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.09. Triple Flag Precious Metals had a return on equity of 3.99% and a net margin of 33.71%. The company had revenue of $52.60 million for the quarter, compared to analyst estimates of $56.00 million. Analysts forecast that Triple Flag Precious Metals Corp. will post 0.37 EPS for the current fiscal year.

Triple Flag Precious Metals Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Thursday, August 31st will be given a dividend of $0.0525 per share. This represents a $0.21 annualized dividend and a dividend yield of 1.54%. The ex-dividend date of this dividend is Wednesday, August 30th. Triple Flag Precious Metals’s dividend payout ratio is currently 60.00%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on TFPM. National Bank Financial decreased their target price on Triple Flag Precious Metals from C$25.00 to C$24.00 in a report on Friday, July 21st. Raymond James decreased their price target on Triple Flag Precious Metals from C$25.00 to C$24.00 in a report on Thursday, August 24th. TD Securities decreased their price target on Triple Flag Precious Metals from C$28.00 to C$27.00 in a report on Thursday, May 25th. Finally, Canaccord Genuity Group upgraded Triple Flag Precious Metals from a “hold” rating to a “buy” rating in a report on Friday, June 9th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.08.

Triple Flag Precious Metals Company Profile

Triple Flag Precious Metals Corp., a gold-focused streaming and royalty company, engages in acquiring and managing precious metals and other streams and royalties in Australia, Canada, Colombia, Mongolia, Peru, South Africa, and the United States. The company has a portfolio of streams and royalties providing exposure primarily to gold and silver.