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

Triple Flag Precious Metals Corp. (NYSE:TFPM) was the target of a large decline in short interest in 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. Currently, 0.4% of the shares of the company are sold short. Based on an average daily trading volume, of 239,300 shares, the short-interest ratio is currently 3.2 days.

Triple Flag Precious Metals Trading Up 0.8 %

Shares of Triple Flag Precious Metals stock traded up $0.12 during trading on Friday, hitting $15.50. The stock had a trading volume of 137,744 shares, compared to its average volume of 245,610. Triple Flag Precious Metals has a 1 year low of $11.75 and a 1 year high of $18.08. The company has a market capitalization of $3.12 billion, a PE ratio of 81.56, a P/E/G ratio of 0.94 and a beta of -0.11. 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 50 day simple moving average of $16.15 and a 200 day simple moving average of $14.36.

Triple Flag Precious Metals (NYSE:TFPM) last announced its earnings results on Tuesday, May 7th. The company reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.01. The business had revenue of $57.53 million during the quarter. Triple Flag Precious Metals had a net margin of 17.59% and a return on equity of 4.17%. On average, research analysts expect that Triple Flag Precious Metals will post 0.49 EPS for the current fiscal year.

Triple Flag Precious Metals Dividend Announcement

The company 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. This represents a $0.21 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date was Friday, May 31st. Triple Flag Precious Metals’s dividend payout ratio (DPR) is currently 110.53%.

Institutional Investors Weigh In On Triple Flag Precious Metals

A number of hedge funds have recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of Triple Flag Precious Metals in the fourth quarter valued at approximately $14,035,000. Beutel Goodman & Co Ltd. increased its holdings in shares of Triple Flag Precious Metals by 45.5% in the fourth quarter. Beutel Goodman & Co Ltd. now owns 2,482,110 shares of the company’s stock valued at $33,205,000 after purchasing an additional 776,130 shares in the last quarter. Cove Street Capital LLC acquired a new stake in shares of Triple Flag Precious Metals in the fourth quarter valued at approximately $6,242,000. Tidal Investments LLC acquired a new stake in shares of Triple Flag Precious Metals in the first quarter valued at approximately $6,145,000. Finally, Montrusco Bolton Investments Inc. increased its holdings in shares of Triple Flag Precious Metals by 59.5% in the fourth quarter. Montrusco Bolton Investments Inc. now owns 874,961 shares of the company’s stock valued at $11,705,000 after purchasing an additional 326,357 shares in the last quarter. Institutional investors and hedge funds own 82.91% of the company’s stock.

Analysts Set New Price Targets

TFPM has been the topic of several recent research reports. Royal Bank of Canada reiterated a “sector perform” rating and issued a $19.00 price objective (up from $15.00) on shares of Triple Flag Precious Metals in a research report on Wednesday, May 29th. Jefferies Financial Group lifted their price objective on shares of Triple Flag Precious Metals from $14.00 to $18.00 and gave the company a “buy” rating in a research report on Monday, April 22nd. Scotiabank lifted their price objective on shares of Triple Flag Precious Metals from $19.00 to $20.50 and gave the company a “sector outperform” rating in a research report on Thursday, May 23rd. Finally, Bank of America lifted their price objective on shares of 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 research analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.83.

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.