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

Triple Flag Precious Metals Corp. (NYSE:TFPM) saw a significant growth in short interest in 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 shares of the company are short sold. Based on an average trading volume of 233,700 shares, the days-to-cover ratio is currently 7.0 days.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Scotiabank upped their price objective on shares of Triple Flag Precious Metals from $20.00 to $21.00 and gave the stock a “sector outperform” rating in a research report on Monday, August 19th. Jefferies Financial Group upped their price target on shares of Triple Flag Precious Metals from $20.00 to $22.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. One analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Triple Flag Precious Metals presently has a consensus rating of “Moderate Buy” and an average target price of $20.50.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Quadrature Capital Ltd lifted its position in shares of Triple Flag Precious Metals by 3.0% during the 3rd quarter. Quadrature Capital Ltd now owns 34,800 shares of the company’s stock worth $564,000 after purchasing an additional 1,000 shares during the last quarter. Versor Investments LP lifted its position in Triple Flag Precious Metals by 47.6% in the third quarter. Versor Investments LP now owns 15,204 shares of the company’s stock valued at $246,000 after acquiring an additional 4,904 shares during the last quarter. Mountain Lake Investment Management LLC lifted its position in Triple Flag Precious Metals by 1.9% in the first quarter. Mountain Lake Investment Management LLC now owns 275,000 shares of the company’s stock valued at $3,974,000 after acquiring an additional 5,000 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in Triple Flag Precious Metals in the third quarter valued at $111,000. Finally, Meixler Investment Management Ltd. lifted its position in Triple Flag Precious Metals by 43.7% in the third quarter. Meixler Investment Management Ltd. now owns 23,862 shares of the company’s stock valued at $386,000 after acquiring an additional 7,262 shares during the last quarter. 82.91% of the stock is owned by institutional investors and hedge funds.

Triple Flag Precious Metals Stock Down 1.5 %

Shares of TFPM opened at $16.18 on Friday. Triple Flag Precious Metals has a 52-week low of $11.75 and a 52-week high of $18.88. The company 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 stock has a fifty day simple moving average of $16.83 and a two-hundred day simple moving average of $16.27. The company has a quick ratio of 3.05, a current ratio of 3.18 and a debt-to-equity ratio of 0.02.

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

Triple Flag Precious Metals Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be paid a $0.055 dividend. 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%.

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.