Dixon Mitchell Investment Counsel Inc. Sells 35,000 Shares of Triple Flag Precious Metals Corp. (NYSE:TFPM)

Dixon Mitchell Investment Counsel Inc. lowered its holdings in shares of Triple Flag Precious Metals Corp. (NYSE:TFPM) by 4.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 774,789 shares of the company’s stock after selling 35,000 shares during the period. Dixon Mitchell Investment Counsel Inc.’s holdings in Triple Flag Precious Metals were worth $11,205,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Sunbelt Securities Inc. increased its stake in Triple Flag Precious Metals by 112.7% during the 1st 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 in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Triple Flag Precious Metals by 51.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,125 shares of the company’s stock valued at $175,000 after purchasing an additional 4,475 shares in the last quarter. Meixler Investment Management Ltd. boosted its position in shares of Triple Flag Precious Metals by 8.4% during the fourth quarter. Meixler Investment Management Ltd. now owns 14,575 shares of the company’s stock valued at $194,000 after buying an additional 1,125 shares during the last quarter. LB Partners LLC bought a new stake in Triple Flag Precious Metals in the 4th quarter worth about $198,000. Finally, Aigen Investment Management LP purchased a new position in Triple Flag Precious Metals in the 4th quarter worth about $209,000. Hedge funds and other institutional investors own 82.91% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. 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 report on Wednesday, May 29th. Bank of America raised 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 company a “sector outperform” rating in a research note on Thursday, May 23rd. Finally, Jefferies Financial Group raised their price target on Triple Flag Precious Metals from $14.00 to $18.00 and gave the stock a “buy” rating in a research note on Monday, April 22nd. One analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $20.83.

Triple Flag Precious Metals Stock Performance

Shares of TFPM traded up $0.41 on Tuesday, reaching $15.83. The company’s stock had a trading volume of 160,769 shares, compared to its average volume of 194,457. The stock’s 50 day simple moving average is $16.15 and its two-hundred day simple moving average is $14.39. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.40 and a quick ratio of 4.40. The stock has a market capitalization of $3.19 billion, a P/E ratio of 82.48, a PEG ratio of 0.94 and a beta of -0.14. Triple Flag Precious Metals Corp. has a 12-month low of $11.75 and a 12-month high of $18.08.

Triple Flag Precious Metals (NYSE:TFPM) last issued its quarterly earnings results on Tuesday, May 7th. The company reported $0.12 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $57.53 million for the quarter. Research analysts forecast that Triple Flag Precious Metals Corp. will post 0.49 earnings per share for the current fiscal year.

Triple Flag Precious Metals Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were issued a dividend of $0.052 per share. This represents a $0.21 annualized dividend and a yield of 1.31%. The ex-dividend date of this dividend was Friday, May 31st. Triple Flag Precious Metals’s dividend payout ratio is presently 110.53%.

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.