Vestcor Inc Cuts Stock Holdings in Triple Flag Precious Metals Corp. $TFPM

Vestcor Inc lessened its stake in Triple Flag Precious Metals Corp. (NYSE:TFPM) by 19.3% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 76,200 shares of the company’s stock after selling 18,200 shares during the quarter. Vestcor Inc’s holdings in Triple Flag Precious Metals were worth $2,230,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Bessemer Group Inc. purchased a new position in shares of Triple Flag Precious Metals in the 3rd quarter worth $27,000. Employees Retirement System of Texas purchased a new stake in Triple Flag Precious Metals during the second quarter valued at about $36,000. SBI Securities Co. Ltd. grew its position in Triple Flag Precious Metals by 100.6% during the third quarter. SBI Securities Co. Ltd. now owns 1,408 shares of the company’s stock valued at $41,000 after acquiring an additional 706 shares during the period. Caitlin John LLC acquired a new stake in Triple Flag Precious Metals during the third quarter worth about $98,000. Finally, Tower Research Capital LLC TRC raised its holdings in shares of Triple Flag Precious Metals by 160.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,015 shares of the company’s stock worth $119,000 after purchasing an additional 3,086 shares during the period. 82.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Zacks Research raised Triple Flag Precious Metals from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 10th. Scotiabank increased their target price on shares of Triple Flag Precious Metals from $34.00 to $43.00 and gave the stock a “sector perform” rating in a research report on Monday, January 26th. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Triple Flag Precious Metals in a report on Wednesday, February 4th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Triple Flag Precious Metals in a research report on Wednesday, January 21st. Finally, BMO Capital Markets reiterated a “market perform” rating on shares of Triple Flag Precious Metals in a research note on Thursday, January 15th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $32.25.

Triple Flag Precious Metals Price Performance

Shares of NYSE TFPM opened at $38.20 on Thursday. Triple Flag Precious Metals Corp. has a 1-year low of $17.72 and a 1-year high of $41.70. The business has a 50-day moving average of $36.89 and a 200-day moving average of $32.65. The company has a market capitalization of $7.89 billion, a price-to-earnings ratio of 32.37, a PEG ratio of 2.02 and a beta of -0.28.

Triple Flag Precious Metals (NYSE:TFPM) last announced its 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 business had revenue of $118.92 million for the quarter, compared to the consensus estimate 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 expect that Triple Flag Precious Metals Corp. will post 0.71 EPS for the current fiscal year.

Triple Flag Precious Metals Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 2nd will be paid a dividend of $0.0575 per share. The ex-dividend date is Monday, March 2nd. This represents a $0.23 dividend on an annualized basis and a dividend yield of 0.6%. Triple Flag Precious Metals’s dividend payout ratio (DPR) is currently 19.49%.

Triple Flag Precious Metals Company 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.