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Sandstorm Gold Ltd. (SAND - Free Report) announced preliminary record gold equivalent ounces (GEOs) sold and revenues for 2022.
The company sold nearly 21,800 attributable GEOs in fourth-quarter 2022. This marks a 31.4% increase from the 16,586 ounces of GEOs sold in fourth-quarter 2021. The company generated preliminary revenues of $38.4 million in the quarter under review compared with the year-ago quarter’s $29.8 million.
The preliminary cost of sales, excluding the depletion for the December-end quarter, was $5.5 million compared with $3.7 million in the fourth quarter of 2021. Cash operating margins were approximately $1,493 per attributable GEO in the quarter under review. The company generated a cash operating margin of $1,574 per GEO in the prior-year quarter.
In 2022, Sandstorm Gold sold approximately a record 82,400 attributable GEOs, up about 22% from the prior-year level. The figure came within the company’s guidance of 80,000-85,000 ounces. It reported preliminary record revenues of $148.7 million in 2022, up 29% from the 2021 level.
The preliminary cost of sales, excluding the depletion for 2022, was $23.4 million, leading to a cash operating margin of approximately $1,511 per attributable GEO. This compares to 2021’s cost of sales of $16.8 million and cash operating margin of $1,539 per attributable gold.
The fourth-quarter 2022 performance drew momentum from the strong third-quarter results. SAND reported attributable GEOs of 22,606 ounces for the September-ended quarter, reflecting a 45.7% year-over-year increase. Revenues improved 41% year over year to $39 million. Net income for the quarter was $31.7 million, up from the third quarter’s $6.6 million.
The company anticipates attributable gold equivalent production to exceed 150,000 ounces in 2025.
Price Performance
Sandstorm Gold’s shares have lost 4.9% in the past year against the industry’s growth of 16%.
Image Source: Zacks Investment Research
Zacks Rank & Stocks to Consider
Sandstorm Gold currently carries a Zacks Rank #3 (Hold).
The Zacks Consensus Estimate for CalMaine Foods’ fiscal 2023 earnings per share is pegged at $14.08, suggesting 417.7% growth from the year-ago reported figure. Earnings estimates have moved 73.8% north in the past 60 days. CALM has a trailing four-quarter earnings surprise of 15.3%, on average. Its shares have gained 31.6% in the past year.
The Zacks Consensus Estimate for Reliance Steel’s earnings per share is pegged at $28.65 for 2022, indicating a year-over-year growth rate of 29.5%. Earnings estimates have been revised 0.2% upward in the past 60 days. RS has a trailing four-quarter average surprise of 13.6%, on average. The company has gained 30.3% in a year.
The Zacks Consensus Estimate for Franco-Nevada’s 2022 earnings per share is pegged at $3.67, suggesting 4.3% growth from the year-ago reported figure. Earnings estimates have moved 4.2% north in the past 60 days. FNV has a trailing four-quarter earnings surprise of 1.3%, on average. Its shares have gained 12.8% in the past year.
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Sandstorm Gold (SAND) Preliminary Q4 Revenues Increase Y/Y
Sandstorm Gold Ltd. (SAND - Free Report) announced preliminary record gold equivalent ounces (GEOs) sold and revenues for 2022.
The company sold nearly 21,800 attributable GEOs in fourth-quarter 2022. This marks a 31.4% increase from the 16,586 ounces of GEOs sold in fourth-quarter 2021. The company generated preliminary revenues of $38.4 million in the quarter under review compared with the year-ago quarter’s $29.8 million.
The preliminary cost of sales, excluding the depletion for the December-end quarter, was $5.5 million compared with $3.7 million in the fourth quarter of 2021. Cash operating margins were approximately $1,493 per attributable GEO in the quarter under review. The company generated a cash operating margin of $1,574 per GEO in the prior-year quarter.
In 2022, Sandstorm Gold sold approximately a record 82,400 attributable GEOs, up about 22% from the prior-year level. The figure came within the company’s guidance of 80,000-85,000 ounces. It reported preliminary record revenues of $148.7 million in 2022, up 29% from the 2021 level.
The preliminary cost of sales, excluding the depletion for 2022, was $23.4 million, leading to a cash operating margin of approximately $1,511 per attributable GEO. This compares to 2021’s cost of sales of $16.8 million and cash operating margin of $1,539 per attributable gold.
The fourth-quarter 2022 performance drew momentum from the strong third-quarter results. SAND reported attributable GEOs of 22,606 ounces for the September-ended quarter, reflecting a 45.7% year-over-year increase. Revenues improved 41% year over year to $39 million. Net income for the quarter was $31.7 million, up from the third quarter’s $6.6 million.
The company anticipates attributable gold equivalent production to exceed 150,000 ounces in 2025.
Price Performance
Sandstorm Gold’s shares have lost 4.9% in the past year against the industry’s growth of 16%.
Image Source: Zacks Investment Research
Zacks Rank & Stocks to Consider
Sandstorm Gold currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks from the basic materials space are CalMaine Foods, Inc. (CALM - Free Report) , Reliance Steel & Aluminum Co. (RS - Free Report) and Franco-Nevada Corporation (FNV - Free Report) . CALM and RS currently flaunt a Zacks Rank #1 (Strong Buy) and FNV carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for CalMaine Foods’ fiscal 2023 earnings per share is pegged at $14.08, suggesting 417.7% growth from the year-ago reported figure. Earnings estimates have moved 73.8% north in the past 60 days. CALM has a trailing four-quarter earnings surprise of 15.3%, on average. Its shares have gained 31.6% in the past year.
The Zacks Consensus Estimate for Reliance Steel’s earnings per share is pegged at $28.65 for 2022, indicating a year-over-year growth rate of 29.5%. Earnings estimates have been revised 0.2% upward in the past 60 days. RS has a trailing four-quarter average surprise of 13.6%, on average. The company has gained 30.3% in a year.
The Zacks Consensus Estimate for Franco-Nevada’s 2022 earnings per share is pegged at $3.67, suggesting 4.3% growth from the year-ago reported figure. Earnings estimates have moved 4.2% north in the past 60 days. FNV has a trailing four-quarter earnings surprise of 1.3%, on average. Its shares have gained 12.8% in the past year.