Short Interest in Triple Flag Precious Metals Corp. (NYSE:TFPM) Declines By 29.9%

Triple Flag Precious Metals Corp. (NYSE:TFPM) was the target of a large decrease in short interest in July. As of July 31st, there was short interest totaling 1,030,000 shares, adecreaseof29.9% from the July 15th total of 1,470,000 shares. Based on an average daily trading volume, of 515,300 shares, the short-interest ratio is currently 2.0 days. Approximately0.5% of the company’s shares are sold short. Approximately0.5% of the company’s shares are sold short. Based on an average daily trading volume, of 515,300 shares, the short-interest ratio is currently 2.0 days.

Wall Street Analyst Weigh In

A number of research firms recently commented on TFPM. TD Securities restated a “buy” rating on shares of Triple Flag Precious Metals in a research report on Tuesday, June 24th. Jefferies Financial Group upped their price objective on shares of Triple Flag Precious Metals from $24.00 to $26.00 and gave the company a “buy” rating in a research report on Tuesday, April 22nd. CIBC restated an “outperform” rating on shares of Triple Flag Precious Metals in a research report on Tuesday, July 15th. Wall Street Zen cut shares of Triple Flag Precious Metals from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 2nd. Finally, Raymond James Financial restated an “outperform” rating on shares of Triple Flag Precious Metals in a research report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.00.

Triple Flag Precious Metals Trading Down 4.0%

Shares of NYSE TFPM opened at $24.8340 on Wednesday. The firm has a market cap of $5.13 billion, a PE ratio of 28.88, a PEG ratio of 1.15 and a beta of -0.20. Triple Flag Precious Metals has a 1-year low of $14.51 and a 1-year high of $27.17. The company has a fifty day moving average price of $24.28 and a 200 day moving average price of $21.29.

Triple Flag Precious Metals (NYSE:TFPM) last announced its earnings results on Wednesday, August 6th. The company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.03. The firm had revenue of $94.09 million during the quarter, compared to analyst estimates of $82.76 million. Triple Flag Precious Metals had a net margin of 53.11% and a return on equity of 8.81%. Equities research analysts forecast that Triple Flag Precious Metals will post 0.71 EPS for the current year.

Triple Flag Precious Metals Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be paid a dividend of $0.0575 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $0.23 dividend on an annualized basis and a dividend yield of 0.9%. This is a positive change from Triple Flag Precious Metals’s previous quarterly dividend of $0.06. Triple Flag Precious Metals’s dividend payout ratio (DPR) is currently 25.58%.

Hedge Funds Weigh In On Triple Flag Precious Metals

A number of large investors have recently modified their holdings of TFPM. Tidal Investments LLC boosted its stake in shares of Triple Flag Precious Metals by 221.9% during the 4th quarter. Tidal Investments LLC now owns 1,717,347 shares of the company’s stock worth $25,829,000 after buying an additional 1,183,827 shares during the last quarter. Norges Bank acquired a new position in shares of Triple Flag Precious Metals during the 2nd quarter worth about $24,816,000. Arrowstreet Capital Limited Partnership boosted its stake in shares of Triple Flag Precious Metals by 67.4% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 2,097,794 shares of the company’s stock worth $49,731,000 after buying an additional 844,765 shares during the last quarter. Mackenzie Financial Corp boosted its stake in shares of Triple Flag Precious Metals by 2,463.9% during the 1st quarter. Mackenzie Financial Corp now owns 835,240 shares of the company’s stock worth $15,978,000 after buying an additional 802,663 shares during the last quarter. Finally, SCS Capital Management LLC acquired a new position in shares of Triple Flag Precious Metals during the 1st quarter worth about $15,179,000. 82.91% of the stock is currently owned by institutional investors and hedge funds.

About Triple Flag Precious Metals

Triple Flag Precious Metals Corp., a precious-metals-focused streaming and royalty company, engages in acquiring and managing precious metals, streams, royalties and other mineral interests in Australia, Canada, Colombia, Cote d'Ivoire, Honduras, Mexico, Mongolia, Peru, South Africa, the United States, and internationally.