Triple Flag Precious Metals Corp. (NYSE:TFPM) Sees Large Decline in Short Interest

Triple Flag Precious Metals Corp. (NYSE:TFPM) was the recipient of a large decline in short interest during the month of June. As of June 15th, there was short interest totalling 762,500 shares, a decline of 21.8% from the May 31st total of 975,500 shares. Based on an average trading volume of 239,300 shares, the days-to-cover ratio is presently 3.2 days. Currently, 0.4% of the company’s shares are short sold.

Triple Flag Precious Metals Trading Up 0.8 %

Shares of NYSE:TFPM traded up $0.12 during trading on Friday, reaching $15.50. The stock had a trading volume of 137,744 shares, compared to its average volume of 245,610. The firm’s fifty day moving average is $16.15 and its 200 day moving average is $14.36. The company has a debt-to-equity ratio of 0.03, a quick ratio of 4.40 and a current ratio of 4.40. Triple Flag Precious Metals has a 52 week low of $11.75 and a 52 week high of $18.08. The stock has a market cap of $3.12 billion, a price-to-earnings ratio of 81.56, a P/E/G ratio of 0.94 and a beta of -0.11.

Triple Flag Precious Metals (NYSE:TFPM) last posted its quarterly earnings data on Tuesday, May 7th. The company reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.01. Triple Flag Precious Metals had a net margin of 17.59% and a return on equity of 4.17%. The company had revenue of $57.53 million for the quarter. As a group, equities analysts forecast that Triple Flag Precious Metals will post 0.49 EPS for the current fiscal year.

Triple Flag Precious Metals Dividend Announcement

The business also recently announced 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 was Friday, May 31st. This represents a $0.21 dividend on an annualized basis and a dividend yield of 1.34%. Triple Flag Precious Metals’s payout ratio is presently 110.53%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on TFPM. Bank of America boosted their target price on shares of Triple Flag Precious Metals from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Tuesday, May 28th. Scotiabank boosted their target price on shares of Triple Flag Precious Metals from $19.00 to $20.50 and gave the stock a “sector outperform” rating in a report on Thursday, May 23rd. Jefferies Financial Group boosted their target price on shares of Triple Flag Precious Metals from $14.00 to $18.00 and gave the stock a “buy” rating in a report on Monday, April 22nd. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $19.00 target price (up from $15.00) on shares of Triple Flag Precious Metals in a report on Wednesday, May 29th. One research analyst has rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $20.83.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Tidal Investments LLC acquired a new position in shares of Triple Flag Precious Metals during the 1st quarter valued at $6,145,000. Mountain Lake Investment Management LLC lifted its position in shares of Triple Flag Precious Metals by 1.9% during the 1st quarter. Mountain Lake Investment Management LLC now owns 275,000 shares of the company’s stock valued at $3,974,000 after acquiring an additional 5,000 shares during the period. Gabelli Funds LLC acquired a new position in shares of Triple Flag Precious Metals during the 1st quarter valued at $867,000. Gamco Investors INC. ET AL acquired a new position in Triple Flag Precious Metals during the first quarter worth $364,000. Finally, K2 Principal Fund L.P. raised its holdings in Triple Flag Precious Metals by 33.5% during the first quarter. K2 Principal Fund L.P. now owns 181,737 shares of the company’s stock worth $2,626,000 after buying an additional 45,600 shares during the last quarter. Institutional investors and hedge funds own 82.91% of the company’s stock.

Triple Flag Precious Metals Company Profile

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.