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Sandstorm Gold Reports Y/Y Increase in Q2 Preliminary Revenues

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Key Takeaways

  • SAND reported a 24.2% year-over-year increase in preliminary Q2 revenues to a record $51 million.
  • Cash operating margin rose 45.9% to a record $17,400 per attributable gold equivalent ounce.
  • Attributed gold sales dropped 13.2% year over year to 15,100 ounces, down from 17,400 ounces.

Sandstorm Gold Ltd. announced preliminary revenues and cash operating margin for the second quarter of 2025. Revenues in the quarter rose 24.2% year over year. The company’s cash operating margin moved up 45.9%.

Sandstorm Gold’s Q2 Revenues Rise Y/Y, Margins Improve

SAND sold nearly 15,100 attributable gold equivalent ounces (GEOs) in the quarter. This marks a 13.2% decline from the 17,400 ounces of GEOs sold in second-quarter 2024. However, it delivered record preliminary revenues of $51 million, up from the prior-year quarter’s $41 million driven by higher prices.

The company reported a preliminary cost of sales (excluding depletion) of $5.3 million, higher than $4.7 million in the second quarter of 2024. The cash operating margin was a record $17,400 per attributable GEO in the quarter under review, higher than the prior-year quarter's $2,043.

SAND’s Other Updates

As of June 30, 2025, the outstanding balance on the company’s revolving credit facility was approximately $315 million, with an undrawn and available balance of $310 million.

On July 7, 2025, Sandstorm Gold and Royal Gold, Inc (RGLD - Free Report) announced that they have inked a deal where RGLD will acquire SAND at an implied value of approximately $3.5 billion. The agreement entered into was a twin one with Horizon Copper Corp., which is also set to be acquired by Royal Gold through an all-cash transaction valued at approximately $196 million.

The transaction is aligned with Sandstorm’s focus on delivering consistent growth and value to its shareholders. For each of Sandstorm’s shares, its shareholders will receive 0.0625 of a share of Royal Gold’s common stock.

The transaction is expected to complete in the fourth quarter of 2025.

Sandstorm Gold Stock’s Price Performance

SAND shares have surged 74.3% in the past year compared with the industry’s growth of 39%.

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SAND’s Zacks Rank & Stocks to Consider

Sandstorm Gold currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks from the basic materials space are Carpenter Technology Corporation (CRS - Free Report) , and ATI Inc. (ATI - Free Report) . Both the companies currently carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Carpenter Technology has an average trailing four-quarter earnings surprise of 11.1%. The Zacks Consensus Estimate for CRS’ 2025 earnings is pegged at $7.27 per share, which indicates year-over-year growth of 53.4%. Carpenter Technology shares skyrocketed 111% last year.

ATI has an average trailing four-quarter earnings surprise of 12.54%. The Zacks Consensus Estimate for ATI’s 2025 earnings is pegged at $3.01 per share, indicating year-over-year growth of 22.4%. ATI shares jumped 54% last year.


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Royal Gold, Inc. (RGLD) - free report >>

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