Triple Flag Precious Metals has acquired a 5% silver and gold stream from the Arcata and Azuca mines in Peru for $35 million. This acquisition is expected to boost production by 5,000 to 6,000 GEOs annually by 2028 and support local community initiatives. The company, with a market cap of C$4.94 billion, has seen a 14.21% year-to-date price increase but carries a Sell rating in market consensus.
Triple Flag Precious Metals Corp. has recently secured a significant upgrade to its portfolio by acquiring a 5% silver and gold stream from the Arcata and Azuca mines in Peru, currently operated by Sierra Sun Precious Metals S.A.C. This acquisition, valued at $35 million, is expected to enhance the company’s production capacity, projecting an increase in gold equivalent ounces (GEOs) to between 5,000 and 6,000 annually by the year 2028. Furthermore, this agreement will facilitate a long-term partnership with Sierra Sun to support local community initiatives.
As a key player in the precious metals sector, Triple Flag Precious Metals primarily engages in the acquisition and management of precious metal streams and royalties, specializing in gold and silver. The company positions itself as a strategic partner to mining operations by providing upfront capital in exchange for a share of future production.
In terms of market performance, Triple Flag has exhibited a year-to-date price increase of 14.21%. The average trading volume currently stands at 150,205. However, it is noteworthy that the consensus rating for the stock is categorized as a Sell, while the market capitalization is reported at C$4.94 billion. Interested parties may find more detailed analysis of TFPM stock on TipRanks’ Stock Analysis page.
In summary, Triple Flag Precious Metals has made a strategic $35 million acquisition of silver and gold streams from two mines in Peru, aiming to significantly augment its annual production by 2028. The partnership with Sierra Sun will also contribute positively to local community programs. Despite its recent growth, the stock holds a Sell rating in the market, indicating potential concerns among analysts about its future performance, even with a healthy market cap.
Original Source: www.tipranks.com
