Elliott Investment Management L.P. Sells 567,512 Shares of Triple Flag Precious Metals Corp. $TFPM

Elliott Investment Management L.P. lowered its stake in shares of Triple Flag Precious Metals Corp. (NYSE:TFPM) by 0.4% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 133,248,215 shares of the company’s stock after selling 567,512 shares during the period. Triple Flag Precious Metals makes up 23.0% of Elliott Investment Management L.P.’s investment portfolio, making the stock its biggest holding. Elliott Investment Management L.P. owned about 64.50% of Triple Flag Precious Metals worth $4,625,046,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. PFG Investments LLC raised its stake in shares of Triple Flag Precious Metals by 3.1% in the 4th quarter. PFG Investments LLC now owns 9,149 shares of the company’s stock valued at $304,000 after buying an additional 279 shares in the last quarter. Linden Thomas Advisory Services LLC lifted its position in shares of Triple Flag Precious Metals by 4.2% during the 4th quarter. Linden Thomas Advisory Services LLC now owns 7,253 shares of the company’s stock worth $241,000 after buying an additional 290 shares during the period. Public Employees Retirement System of Ohio boosted its stake in Triple Flag Precious Metals by 2.2% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 16,751 shares of the company’s stock valued at $491,000 after buying an additional 368 shares in the last quarter. Caitlin John LLC grew its position in Triple Flag Precious Metals by 11.2% in the fourth quarter. Caitlin John LLC now owns 3,730 shares of the company’s stock valued at $124,000 after acquiring an additional 375 shares during the period. Finally, Blue Trust Inc. raised its stake in Triple Flag Precious Metals by 4.2% during the fourth quarter. Blue Trust Inc. now owns 15,163 shares of the company’s stock worth $504,000 after acquiring an additional 609 shares in the last quarter. Institutional investors own 82.91% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on TFPM shares. Jefferies Financial Group lowered their target price on shares of Triple Flag Precious Metals from $43.00 to $40.00 and set a “buy” rating on the stock in a report on Monday, July 6th. Scotiabank reduced their price target on shares of 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. BMO Capital Markets reaffirmed a “market perform” rating on shares of Triple Flag Precious Metals in a research note on Friday, June 12th. 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. Finally, Canaccord Genuity Group upgraded shares of Triple Flag Precious Metals from a “hold” rating to a “buy” rating in a research note on Friday, June 12th. Six investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.67.

Triple Flag Precious Metals Price Performance

Shares of TFPM opened at $29.05 on Tuesday. The business has a 50-day moving average of $29.48 and a 200-day moving average of $33.47. The company has a market capitalization of $5.99 billion, a price-to-earnings ratio of 19.24, a price-to-earnings-growth ratio of 2.56 and a beta of -0.19. Triple Flag Precious Metals Corp. has a 1 year low of $22.60 and a 1 year high of $41.70.

Triple Flag Precious Metals (NYSE:TFPM) last announced its earnings results on Tuesday, May 5th. The company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.43 by $0.02. The business had revenue of $147.00 million for the quarter, compared to analysts’ expectations of $147.00 million. Triple Flag Precious Metals had a return on equity of 12.90% and a net margin of 68.68%. As a group, sell-side analysts anticipate that Triple Flag Precious Metals Corp. will post 1.43 EPS for the current year.

Triple Flag Precious Metals Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were given a dividend of $0.0575 per share. The ex-dividend date was Monday, June 1st. This represents a $0.23 annualized dividend and a dividend yield of 0.8%. Triple Flag Precious Metals’s dividend payout ratio is 15.23%.

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.