Horizon Kinetics Asset Management LLC Purchases 398,890 Shares of Triple Flag Precious Metals Corp. $TFPM

Horizon Kinetics Asset Management LLC boosted its position in shares of Triple Flag Precious Metals Corp. (NYSE:TFPM) by 1,510.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 425,303 shares of the company’s stock after acquiring an additional 398,890 shares during the quarter. Horizon Kinetics Asset Management LLC’s holdings in Triple Flag Precious Metals were worth $14,129,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. WESCAP Management Group Inc. acquired a new position in shares of Triple Flag Precious Metals in the fourth quarter valued at $482,000. Clearbridge Investments LLC increased its holdings in shares of Triple Flag Precious Metals by 213.3% in the fourth quarter. Clearbridge Investments LLC now owns 177,929 shares of the company’s stock valued at $5,911,000 after purchasing an additional 121,137 shares during the last quarter. TD Asset Management Inc increased its holdings in shares of Triple Flag Precious Metals by 9.4% in the fourth quarter. TD Asset Management Inc now owns 734,670 shares of the company’s stock valued at $24,445,000 after purchasing an additional 63,128 shares during the last quarter. CIBC Asset Management Inc increased its holdings in shares of Triple Flag Precious Metals by 5.6% in the fourth quarter. CIBC Asset Management Inc now owns 65,018 shares of the company’s stock valued at $2,162,000 after purchasing an additional 3,447 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Triple Flag Precious Metals in the fourth quarter valued at $49,550,000. 82.91% of the stock is owned by institutional investors.

Triple Flag Precious Metals Price Performance

NYSE:TFPM opened at $27.87 on Wednesday. The firm’s fifty day moving average price is $33.06 and its two-hundred day moving average price is $34.50. Triple Flag Precious Metals Corp. has a one year low of $22.60 and a one year high of $41.70. The company has a market cap of $5.76 billion, a P/E ratio of 18.45, a P/E/G ratio of 5.22 and a beta of -0.22.

Triple Flag Precious Metals (NYSE:TFPM) last released its quarterly 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. Triple Flag Precious Metals had a net margin of 68.68% and a return on equity of 12.90%. The business had revenue of $147.00 million for the quarter, compared to the consensus estimate of $147.00 million. As a group, equities research analysts expect that Triple Flag Precious Metals Corp. will post 1.43 earnings per share for the current year.

Triple Flag Precious Metals Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be paid a $0.0575 dividend. The ex-dividend date is 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%.

Analysts Set New Price Targets

Several research firms have commented on TFPM. Wall Street Zen downgraded shares of Triple Flag Precious Metals from a “buy” rating to a “hold” rating in a report on Saturday. Weiss Ratings reiterated a “buy (b)” rating on shares of Triple Flag Precious Metals in a report on Monday, April 20th. Finally, Zacks Research downgraded shares of Triple Flag Precious Metals from a “strong-buy” rating to a “hold” rating in a report on Thursday, April 9th. Five investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Triple Flag Precious Metals has an average rating of “Moderate Buy” and an average target price of $40.00.

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.