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

Triple Flag Precious Metals Corp. (NYSE:TFPM) saw a large drop in short interest in September. As of September 15th, there was short interest totalling 780,300 shares, a drop of 20.1% from the August 31st total of 976,200 shares. Based on an average daily volume of 221,100 shares, the short-interest ratio is currently 3.5 days. Currently, 0.4% of the shares of the stock are sold short.

Institutional Trading of Triple Flag Precious Metals

A number of hedge funds have recently made changes to their positions in the stock. Van ECK Associates Corp lifted its position in shares of Triple Flag Precious Metals by 0.9% in the first quarter. Van ECK Associates Corp now owns 3,557,484 shares of the company’s stock worth $51,406,000 after purchasing an additional 30,758 shares in the last quarter. Norges Bank bought a new position in Triple Flag Precious Metals during the fourth quarter valued at approximately $14,035,000. Cove Street Capital LLC raised its position in Triple Flag Precious Metals by 15.4% during the first quarter. Cove Street Capital LLC now owns 541,255 shares of the company’s stock valued at $7,821,000 after acquiring an additional 72,249 shares in the last quarter. Tidal Investments LLC bought a new position in Triple Flag Precious Metals during the first quarter valued at approximately $6,145,000. Finally, Dimensional Fund Advisors LP raised its position in Triple Flag Precious Metals by 37.0% during the second quarter. Dimensional Fund Advisors LP now owns 361,459 shares of the company’s stock valued at $5,602,000 after acquiring an additional 97,630 shares in the last quarter. 82.91% of the stock is owned by hedge funds and other institutional investors.

Triple Flag Precious Metals Trading Down 5.3 %

TFPM stock traded down $0.92 during mid-day trading on Friday, reaching $16.46. 244,620 shares of the stock traded hands, compared to its average volume of 205,405. The company has a current ratio of 5.80, a quick ratio of 5.59 and a debt-to-equity ratio of 0.01. Triple Flag Precious Metals has a 52-week low of $11.75 and a 52-week high of $18.08. The company has a market cap of $3.32 billion, a P/E ratio of 86.64, a P/E/G ratio of 1.02 and a beta of -0.13. The stock’s fifty day moving average is $15.99 and its 200-day moving average is $15.78.

Triple Flag Precious Metals (NYSE:TFPM) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.01. Triple Flag Precious Metals had a negative net margin of 40.62% and a positive return on equity of 4.73%. The company had revenue of $63.58 million during the quarter. As a group, sell-side analysts expect that Triple Flag Precious Metals will post 0.52 earnings per share for the current year.

Triple Flag Precious Metals Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were given a $0.055 dividend. This represents a $0.22 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date was Friday, August 30th. Triple Flag Precious Metals’s dividend payout ratio (DPR) is 115.80%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on TFPM. Jefferies Financial Group raised their price objective on shares of Triple Flag Precious Metals from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Friday, July 12th. Scotiabank upped their price objective on shares of Triple Flag Precious Metals from $20.00 to $21.00 and gave the company a “sector outperform” rating in a research note on Monday, August 19th. One 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, Triple Flag Precious Metals currently has an average rating of “Moderate Buy” and a consensus target price of $20.00.

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.