Triple Flag Precious Metals Corp. (NYSE:TFPM – Get Rating) shares saw unusually-strong trading volume on Wednesday after CIBC raised their price target on the stock from C$21.00 to C$22.50. Approximately 69,488 shares changed hands during mid-day trading, a decline of 52% from the previous session's volume of 144,149 shares.The stock last traded at $13.11 and had previously closed at $13.40.
Several other equities analysts have also recently issued reports on the stock. BMO Capital Markets cut shares of Triple Flag Precious Metals from an "outperform" rating to a "market perform" rating in a research note on Thursday, November 10th. TD Securities boosted their price objective on shares of Triple Flag Precious Metals from C$19.50 to C$23.00 in a research note on Wednesday, December 14th. National Bank Financial raised shares of Triple Flag Precious Metals from a "sector perform overweight" rating to an "outperform overweight" rating in a research note on Thursday, January 19th. Finally, Raymond James upped their price target on shares of Triple Flag Precious Metals from C$21.00 to C$222.00 in a research note on Tuesday.
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Hedge Funds Weigh In On Triple Flag Precious Metals
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Elliott Investment Management L.P. acquired a new position in shares of Triple Flag Precious Metals during the 3rd quarter worth $1,633,693,000. Whitebox Advisors LLC purchased a new stake in shares of Triple Flag Precious Metals in the 3rd quarter worth about $37,183,000. Anson Funds Management LP purchased a new stake in shares of Triple Flag Precious Metals in the 3rd quarter worth about $8,426,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Triple Flag Precious Metals in the 3rd quarter worth about $6,136,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in shares of Triple Flag Precious Metals in the 3rd quarter worth about $3,046,000. 87.28% of the stock is owned by institutional investors and hedge funds.
Triple Flag Precious Metals Stock Performance
The company has a 50-day moving average price of $13.25.
Triple Flag Precious Metals (NYSE:TFPM – Get Rating) last released its quarterly earnings data on Monday, November 7th. The company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.08 by $0.01. The business had revenue of $33.75 million during the quarter. Analysts expect that Triple Flag Precious Metals Corp. will post 0.38 EPS for the current year.
Triple Flag Precious Metals Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 15th. Investors of record on Wednesday, November 30th were given a $0.05 dividend. The ex-dividend date was Tuesday, November 29th. This represents a $0.20 annualized dividend and a dividend yield of 1.50%.
About Triple Flag Precious Metals
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Triple Flag Precious Metals Corp., a gold-focused streaming and royalty company, engages in acquiring and managing precious metals and other streams and royalties in Australia, Canada, Colombia, Mongolia, Peru, South Africa, and the United States. The company has a portfolio of streams and royalties providing exposure primarily to gold and silver.
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