Triple Flag Acquires Silver and Gold Streams from Peruvian Mines

Triple Flag Precious Metals Corp. has secured a 5% silver and gold stream from the Arcata and Azuca mines in Peru for $35 million, aiming for 5-6 thousand GEOs per year by 2028. This acquisition reinforces its portfolio and supports community initiatives, despite a current ‘Sell’ market sentiment and a $4.94 billion market cap.

Triple Flag Precious Metals Corp. has recently 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. for $35 million. This strategic move is projected to increase the company’s gold equivalent ounces (GEOs) to 5-6 thousand per year by 2028, solidifying a long-term partnership with Sierra Sun that will also support local community initiatives.

Triple Flag Precious Metals specializes in the precious metals sector, focusing on the acquisition and management of precious metal streams and royalties. The firm primarily engages with gold and silver, presenting itself as a financial partner for mining operators by providing upfront capital in return for a share of future production.

As of now, the Year-To-Date price performance for Triple Flag Precious Metals is 14.21%, with an average trading volume of 150,205 shares. The technical sentiment is currently rated as ‘Sell’, and the company’s market capitalization stands at C$4.94 billion. Further insights into Triple Flag Precious Metals’ stock performance are available on TipRanks’ Stock Analysis page.

In summary, Triple Flag Precious Metals has successfully secured silver and gold streams in Peru, enhancing its production capacity and establishing a robust partnership with local operators. This acquisition reflects the company’s strategic growth in the precious metals sector while contributing positively to local communities. The market’s current sentiment indicates cautious engagement as reflected in the ‘Sell’ rating.

Original Source: www.tipranks.com