Triple Flag Precious Metals Corp. (NYSE:TFPM) Short Interest Up 61.4% in October

Triple Flag Precious Metals Corp. (NYSE:TFPM) saw a significant growth in short interest during the month of October. As of October 31st, there was short interest totalling 1,630,000 shares, a growth of 61.4% from the October 15th total of 1,010,000 shares. Approximately 0.8% of the company’s shares are sold short. Based on an average trading volume of 233,700 shares, the days-to-cover ratio is currently 7.0 days.

Hedge Funds Weigh In On Triple Flag Precious Metals

Hedge funds have recently bought and sold shares of the business. Tidal Investments LLC purchased a new position in shares of Triple Flag Precious Metals in the first quarter valued at approximately $6,145,000. FMR LLC raised its stake in Triple Flag Precious Metals by 8.9% in the 3rd quarter. FMR LLC now owns 4,061,121 shares of the company’s stock valued at $65,761,000 after purchasing an additional 333,574 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in Triple Flag Precious Metals by 18.0% in the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,595,829 shares of the company’s stock valued at $25,838,000 after purchasing an additional 242,906 shares in the last quarter. Bank of Montreal Can boosted its stake in Triple Flag Precious Metals by 151.1% during the 3rd quarter. Bank of Montreal Can now owns 367,936 shares of the company’s stock worth $6,042,000 after purchasing an additional 221,389 shares during the last quarter. Finally, American Century Companies Inc. purchased a new stake in shares of Triple Flag Precious Metals during the second quarter worth $2,389,000. Hedge funds and other institutional investors own 82.91% of the company’s stock.

Triple Flag Precious Metals Stock Down 1.5 %

Shares of NYSE TFPM opened at $16.18 on Friday. Triple Flag Precious Metals has a 12-month low of $11.75 and a 12-month high of $18.88. The stock’s fifty day simple moving average is $16.83 and its two-hundred day simple moving average is $16.27. The stock has a market capitalization of $3.26 billion, a PE ratio of -62.23, a price-to-earnings-growth ratio of 1.05 and a beta of -0.16. The company has a current ratio of 3.18, a quick ratio of 3.05 and a debt-to-equity ratio of 0.02.

Triple Flag Precious Metals (NYSE:TFPM) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.01. The business had revenue of $73.67 million during the quarter. Triple Flag Precious Metals had a positive return on equity of 5.51% and a negative net margin of 22.15%. During the same period in the prior year, the business posted $0.09 EPS. As a group, analysts expect that Triple Flag Precious Metals will post 0.55 EPS for the current fiscal year.

Triple Flag Precious Metals Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be paid a dividend of $0.055 per share. This represents a $0.22 annualized dividend and a dividend yield of 1.36%. The ex-dividend date is Friday, November 29th. Triple Flag Precious Metals’s payout ratio is currently -84.62%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on TFPM. Scotiabank lifted their price target on shares of Triple Flag Precious Metals from $20.00 to $21.00 and gave the stock a “sector outperform” rating in a research note on Monday, August 19th. Jefferies Financial Group upped their target price on Triple Flag Precious Metals from $20.00 to $22.00 and gave the company a “buy” rating in a research note on Friday, October 4th. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.50.

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.