Forge First Asset Management Inc. Takes Position in Triple Flag Precious Metals Corp. (NYSE:TFPM)

Forge First Asset Management Inc. purchased a new stake in shares of Triple Flag Precious Metals Corp. (NYSE:TFPM) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 51,100 shares of the company’s stock, valued at approximately $737,000.

Other institutional investors have also recently made changes to their positions in the company. Sunbelt Securities Inc. lifted its holdings in Triple Flag Precious Metals by 112.7% during the 1st quarter. Sunbelt Securities Inc. now owns 7,604 shares of the company’s stock worth $110,000 after purchasing an additional 4,029 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Triple Flag Precious Metals by 51.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,125 shares of the company’s stock worth $175,000 after purchasing an additional 4,475 shares in the last quarter. Meixler Investment Management Ltd. raised its holdings in shares of Triple Flag Precious Metals by 8.4% in the 4th quarter. Meixler Investment Management Ltd. now owns 14,575 shares of the company’s stock valued at $194,000 after acquiring an additional 1,125 shares in the last quarter. LB Partners LLC purchased a new stake in shares of Triple Flag Precious Metals in the 4th quarter valued at about $198,000. Finally, Aigen Investment Management LP purchased a new stake in shares of Triple Flag Precious Metals in the 4th quarter valued at about $209,000. Hedge funds and other institutional investors own 82.91% of the company’s stock.

Triple Flag Precious Metals Price Performance

Shares of Triple Flag Precious Metals stock traded up $0.03 during trading on Friday, hitting $16.03. 129,623 shares of the stock traded hands, compared to its average volume of 253,484. The company has a quick ratio of 4.40, a current ratio of 4.40 and a debt-to-equity ratio of 0.03. The stock has a market cap of $3.23 billion, a price-to-earnings ratio of 84.37, a PEG ratio of 0.94 and a beta of -0.14. The firm’s fifty day moving average is $16.09 and its 200-day moving average is $14.63. Triple Flag Precious Metals Corp. has a 52 week low of $11.75 and a 52 week high of $18.08.

Triple Flag Precious Metals (NYSE:TFPM) last announced its quarterly earnings data on Tuesday, May 7th. The company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.11 by $0.01. The firm had revenue of $57.53 million for the quarter. Triple Flag Precious Metals had a return on equity of 4.17% and a net margin of 17.59%. Research analysts expect that Triple Flag Precious Metals Corp. will post 0.5 EPS for the current fiscal year.

Triple Flag Precious Metals Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 31st were given a dividend of $0.052 per share. The ex-dividend date of this dividend was Friday, May 31st. This represents a $0.21 annualized dividend and a yield of 1.30%. Triple Flag Precious Metals’s payout ratio is 110.53%.

Wall Street Analysts Forecast Growth

TFPM has been the topic of several recent analyst reports. Scotiabank lowered their price target on Triple Flag Precious Metals from $20.50 to $20.00 and set a “sector outperform” rating on the stock in a report on Thursday. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $19.00 price target (up previously from $15.00) on shares of Triple Flag Precious Metals in a report on Wednesday, May 29th. Jefferies Financial Group raised their price target on Triple Flag Precious Metals from $19.00 to $20.00 and gave the company a “buy” rating in a report on Friday, July 12th. Finally, Bank of America increased their price objective on Triple Flag Precious Metals from $18.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, May 28th. One analyst has rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $21.08.

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.