Merrion Investment Management Co LLC Sells 2,100 Shares of Triple Flag Precious Metals Corp. (NYSE:TFPM)

Merrion Investment Management Co LLC trimmed its holdings in Triple Flag Precious Metals Corp. (NYSE:TFPM) by 2.3% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 90,200 shares of the company’s stock after selling 2,100 shares during the quarter. Triple Flag Precious Metals accounts for about 0.9% of Merrion Investment Management Co LLC’s holdings, making the stock its 26th biggest holding. Merrion Investment Management Co LLC’s holdings in Triple Flag Precious Metals were worth $1,303,000 at the end of the most recent quarter.

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

Triple Flag Precious Metals Stock Up 0.8 %

Triple Flag Precious Metals stock traded up $0.12 during mid-day 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 company has a market capitalization of $3.12 billion, a price-to-earnings ratio of 81.58, a PEG ratio of 0.94 and a beta of -0.11. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.40 and a quick ratio of 4.40. Triple Flag Precious Metals Corp. has a one year low of $11.75 and a one year high of $18.08. The company has a 50-day moving average price of $16.15 and a two-hundred day moving average price of $14.37.

Triple Flag Precious Metals (NYSE:TFPM) last issued its earnings results on Tuesday, May 7th. The company reported $0.12 earnings per share 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 return on equity of 4.17% and a net margin of 17.59%. On average, analysts expect that Triple Flag Precious Metals Corp. will post 0.49 EPS for the current fiscal year.

Triple Flag Precious Metals Dividend Announcement

The firm 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 annualized dividend and a yield of 1.34%. Triple Flag Precious Metals’s dividend payout ratio (DPR) is 110.53%.

Analyst Ratings Changes

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

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.