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Sandstorm Gold Ltd. (SAND - Free Report) announced preliminary revenues and cash operating margins for the first quarter of 2024. Revenues in the quarter fell 2.7% year over year. The company’s cash operating margins moved up 7.8%.
SAND sold nearly 20,300 attributable gold equivalent ounces (GEOs) in the quarter. This marks a 28.4% decline from the 28,368 ounces of GEOs sold in first-quarter 2023. Sandstorm Gold delivered preliminary revenues of $42.8 million, down from the prior-year quarter’s $44 million.
SAND reported a preliminary cost of sales (excluding depletion) of $5.7 million, lower than the $6.5 million reported in the first quarter of 2023. The cash operating margin was $1,781 per attributable GEO in the quarter under review, higher than the prior-year quarter's $1,652.
The company will report its first-quarter results for 2024 on May 2, 2024.
At the end of the fourth quarter of 2023, Sandstorm Gold announced expectations of attributable gold equivalent ounces of 75,000-90,000 for 2024. Within the next five years, the company anticipates producing 125,000 attributable gold-equivalent ounces.
Price Performance
Shares of the company have lost 11.9% in the past year against the industry’s growth of 2.2%.
Image Source: Zacks Investment Research
Zacks Rank & Stocks to Consider
Sandstorm Gold currently carries a Zacks Rank #3 (Hold).
The Zacks Consensus Estimate for Ecolab’s 2024 earnings is pegged at $6.39 per share, indicating an increase of 22.7% from the prior year’s reported number. It has an average trailing four-quarter earnings surprise of 1.7%. ECL shares have gained 41.8% in a year.
The Zacks Consensus Estimate for Carpenter Technology’s 2024 earnings is pegged at $4.00 per share. The consensus estimate for 2024 earnings has moved 1% north in the past 60 days. It has an average trailing four-quarter earnings surprise of 14.3%. CRS shares have gained 33.5% in a year.
The Zacks Consensus Estimate for Innospec’s 2024 earnings is pegged at $6.72 per share, indicating a year-over-year rise of 10.3%. The Zacks Consensus Estimate for IOSP’s current-year earnings has been revised 2% north in the past 60 days. It has an average trailing four-quarter earnings surprise of 10.5%. The company’s shares have rallied 19.3% in the past year.
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Sandstorm Gold (SAND) Posts Y/Y Preliminary Q1 Revenue Decline
Sandstorm Gold Ltd. (SAND - Free Report) announced preliminary revenues and cash operating margins for the first quarter of 2024. Revenues in the quarter fell 2.7% year over year. The company’s cash operating margins moved up 7.8%.
SAND sold nearly 20,300 attributable gold equivalent ounces (GEOs) in the quarter. This marks a 28.4% decline from the 28,368 ounces of GEOs sold in first-quarter 2023. Sandstorm Gold delivered preliminary revenues of $42.8 million, down from the prior-year quarter’s $44 million.
SAND reported a preliminary cost of sales (excluding depletion) of $5.7 million, lower than the $6.5 million reported in the first quarter of 2023. The cash operating margin was $1,781 per attributable GEO in the quarter under review, higher than the prior-year quarter's $1,652.
The company will report its first-quarter results for 2024 on May 2, 2024.
At the end of the fourth quarter of 2023, Sandstorm Gold announced expectations of attributable gold equivalent ounces of 75,000-90,000 for 2024. Within the next five years, the company anticipates producing 125,000 attributable gold-equivalent ounces.
Price Performance
Shares of the company have lost 11.9% in the past year against the industry’s growth of 2.2%.
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 Ecolab Inc. (ECL - Free Report) , Carpenter Technology Corporation (CRS - Free Report) and Innospec Inc. (IOSP - Free Report) . ECL and CRS sport a Zacks Rank #1 (Strong Buy) at present, and IOSP has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Ecolab’s 2024 earnings is pegged at $6.39 per share, indicating an increase of 22.7% from the prior year’s reported number. It has an average trailing four-quarter earnings surprise of 1.7%. ECL shares have gained 41.8% in a year.
The Zacks Consensus Estimate for Carpenter Technology’s 2024 earnings is pegged at $4.00 per share. The consensus estimate for 2024 earnings has moved 1% north in the past 60 days. It has an average trailing four-quarter earnings surprise of 14.3%. CRS shares have gained 33.5% in a year.
The Zacks Consensus Estimate for Innospec’s 2024 earnings is pegged at $6.72 per share, indicating a year-over-year rise of 10.3%. The Zacks Consensus Estimate for IOSP’s current-year earnings has been revised 2% north in the past 60 days. It has an average trailing four-quarter earnings surprise of 10.5%. The company’s shares have rallied 19.3% in the past year.