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Sandstorm Gold (SAND) Q1 Earnings Top Estimates, Sales Up Y/Y
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Sandstorm Gold Ltd (SAND - Free Report) reported earnings per share (EPS) of 5 cents, flat year over year. The bottom line surpassed the Zacks Consensus Estimate of 4 cents.
Sandstorm Gold’s total revenues amounted to a record $44 million, in line with the Zacks Consensus Estimate. The top line increased 24.3% year over year. The upside is driven by a 23% increase in attributable gold equivalent ounces sold. The company reported record attributable gold equivalent ounces of 28,368 ounces compared with 18,741 ounces in the prior-year quarter.
Total cost of sales came in at $24.5 million compared with the year-ago quarter’s $16.4 million. Gross profit climbed 2.6% year over year to $19.5 million. The gross margin was 44.3% in the first quarter compared with the prior-year quarter’s 53.7%.
The average cash cost per attributable gold equivalent ounce was $230 in the first quarter, down from $283 per ounce in the prior-year quarter. Cash operating margins were $1,652 per attributable gold equivalent ounce in first-quarter 2023, up from $1,604 per ounce in the prior-year quarter.
Sandstorm Gold Ltd Price, Consensus and EPS Surprise
Sandstorm Gold had cash and cash equivalents of $5.3 million at the end of the first quarter 2023 compared with $31.6 million held at the end of first quarter 2022.. Net cash provided by operating activities for the first quarter was a record $42.7 million, up from the prior-year quarter’s $26.7 million.
Guidance
Sandstorm Gold expects attributable gold equivalent ounces between 90,000–100,000 ounces in 2023. Within the next five years, the company expects to produce approximately 125,000 attributable gold equivalent ounces, with a sustainable average annual production of around 110,000 attributable gold equivalent ounces over the next 15 years.
Price Performance
Shares of the company have lost 5% in the past year against the industry’s growth of 16.8%.
Image Source: Zacks Investment Research
Zacks Rank & Other Stocks to Consider
Sandstorm Gold currently carries a Zacks Rank #1 (Strong Buy).
The Zacks Consensus Estimate for Gold Fields’ fiscal 2023 earnings per share is pegged at $1.01. Earnings estimates have moved 6.3% north in the past 60 days. GFI has a trailing four-quarter earnings surprise of 7.7%, on average. Its shares have gained 46.2% in the past year.
The Zacks Consensus Estimate for Steel Dynamics’ earnings per share is pegged at $15.99 for 2023. Earnings estimates have been revised 37% upward in the past 60 days. STLD has a trailing four-quarter average surprise of 10.7%, on average. The company has gained 26.6% in a year.
The Zacks Consensus Estimate for Alamos Gold’s earnings per share is pegged at $0.47 for 2023. Earnings estimates have been revised 14.6% upward in the past 60 days. AGI has gained 91.4% in a year.
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Sandstorm Gold (SAND) Q1 Earnings Top Estimates, Sales Up Y/Y
Sandstorm Gold Ltd (SAND - Free Report) reported earnings per share (EPS) of 5 cents, flat year over year. The bottom line surpassed the Zacks Consensus Estimate of 4 cents.
Sandstorm Gold’s total revenues amounted to a record $44 million, in line with the Zacks Consensus Estimate. The top line increased 24.3% year over year. The upside is driven by a 23% increase in attributable gold equivalent ounces sold. The company reported record attributable gold equivalent ounces of 28,368 ounces compared with 18,741 ounces in the prior-year quarter.
Total cost of sales came in at $24.5 million compared with the year-ago quarter’s $16.4 million. Gross profit climbed 2.6% year over year to $19.5 million. The gross margin was 44.3% in the first quarter compared with the prior-year quarter’s 53.7%.
The average cash cost per attributable gold equivalent ounce was $230 in the first quarter, down from $283 per ounce in the prior-year quarter. Cash operating margins were $1,652 per attributable gold equivalent ounce in first-quarter 2023, up from $1,604 per ounce in the prior-year quarter.
Sandstorm Gold Ltd Price, Consensus and EPS Surprise
Sandstorm Gold Ltd price-consensus-eps-surprise-chart | Sandstorm Gold Ltd Quote
Financial Position
Sandstorm Gold had cash and cash equivalents of $5.3 million at the end of the first quarter 2023 compared with $31.6 million held at the end of first quarter 2022.. Net cash provided by operating activities for the first quarter was a record $42.7 million, up from the prior-year quarter’s $26.7 million.
Guidance
Sandstorm Gold expects attributable gold equivalent ounces between 90,000–100,000 ounces in 2023. Within the next five years, the company expects to produce approximately 125,000 attributable gold equivalent ounces, with a sustainable average annual production of around 110,000 attributable gold equivalent ounces over the next 15 years.
Price Performance
Shares of the company have lost 5% in the past year against the industry’s growth of 16.8%.
Image Source: Zacks Investment Research
Zacks Rank & Other Stocks to Consider
Sandstorm Gold currently carries a Zacks Rank #1 (Strong Buy).
Some better-ranked stocks in the basic materials space are Gold Fields Limited (GFI - Free Report) , Steel Dynamics (STLD - Free Report) , and Alamos Gold Inc. (AGI - Free Report) . GFI currently flaunts a Zacks Rank #1 (Strong Buy) while STLD and AGI 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 Gold Fields’ fiscal 2023 earnings per share is pegged at $1.01. Earnings estimates have moved 6.3% north in the past 60 days. GFI has a trailing four-quarter earnings surprise of 7.7%, on average. Its shares have gained 46.2% in the past year.
The Zacks Consensus Estimate for Steel Dynamics’ earnings per share is pegged at $15.99 for 2023. Earnings estimates have been revised 37% upward in the past 60 days. STLD has a trailing four-quarter average surprise of 10.7%, on average. The company has gained 26.6% in a year.
The Zacks Consensus Estimate for Alamos Gold’s earnings per share is pegged at $0.47 for 2023. Earnings estimates have been revised 14.6% upward in the past 60 days. AGI has gained 91.4% in a year.