10:13 AM EST, 12/20/2024 (MT Newswires) -- Triple Flag Precious Metals ( TFPM ) maintained its Sector Perform rating and US$19 price target, RBC Capital Markets said in a Thursday note.

The company recently announced the acquisition of an existing 0.5% gross overriding revenue royalty on Lithium Royalty ( LITRF ) 's Tres Quebradas lithium project in Argentina.

According to RBC, the impact is "mixed" as it views returns for the deal as low for a non-precious metals asset although the materiality is low to Triple Flag.

"Lower returns for the transaction are influenced by current trough lithium pricing and potentially offset by the asset's high-grade nature and extensive duration," RBC said.

Triple Flag's share price was up 0.5% at last look on the TSX.

Price: 22.25, Change: +0.11, Percent Change: +0.50