Triple Flag Precious Metals Corp. has acquired 5% silver and gold streams from Sierra Sun’s Arcata and Azuca mines in Peru for $35 million. This acquisition is projected to increase annual gold equivalent ounces to 5,000-6,000 by 2028, while fostering community support initiatives. Despite a year-to-date stock performance increase of 14.21%, the current consensus rating is “Sell.”
Triple Flag Precious Metals Corp. has announced the acquisition of 5% silver and gold streams from the Arcata and Azuca mines in Peru, operated by Sierra Sun Precious Metals S.A.C. This strategic investment amounts to $35 million and is anticipated to bolster Triple Flag’s portfolio with an increase in gold equivalent ounces (GEOs) projected at 5,000 to 6,000 annually by 2028. Additionally, this move aims to establish a long-term partnership with Sierra Sun to enhance support for local community initiatives.
Operating within the precious metals industry, Triple Flag Precious Metals focuses on acquiring and managing streams and royalties related to precious metals. The company primarily deals in gold and silver, positioning itself as a pivotal partner to mining operators by providing upfront capital in exchange for a percentage of future production revenues.
In terms of year-to-date performance, Triple Flag’s stock has experienced a 14.21% increase, supported by an average trading volume of 150,205. The technical sentiment consensus currently advocates a “Sell” rating, with the market capitalization standing at C$4.94 billion. For additional insights into TFPM stock, TipRanks’ Stock Analysis page offers further details.
In conclusion, Triple Flag Precious Metals has made a significant investment in Peru’s mining sector by acquiring silver and gold streams from Sierra Sun. This strategic move is expected to enhance their output by thousands of GEOs annually while reinforcing community support initiatives. Despite a rise in stock performance, current technical sentiment suggests caution for investors.
Original Source: www.tipranks.com
