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Sandstorm Gold Ltd. (SAND - Free Report) reported earnings per share of 8 cents in the fourth quarter of 2023, beating the Zacks Consensus Estimate of 2 cents. The company posted a loss per share of 1 cent in the year-ago quarter.
Sandstorm Gold’s total revenues amounted to $44 million, missing the Zacks Consensus Estimate of $46 million. The top line increased 15.9% year over year. The upside is driven by an increase in the average realized selling price of gold. The company reported attributable gold equivalent ounces of 23,250 compared with 21,753 in the prior-year quarter.
Total cost of sales came in at $4.9 million compared with the year-ago quarter’s $5.5 million. Gross profit climbed 20.4% year over year to $39.6 million. The gross margin was 89% in the fourth quarter compared with the prior-year quarter’s 85.7%.
The average cash cost per attributable gold equivalent ounce was $211 in the fourth quarter, down from $253 in the prior-year quarter. Cash operating margins were $1,737 per attributable gold equivalent ounce in fourth-quarter 2023, up from $1,493 in the prior-year quarter.
Sandstorm Gold Ltd Price, Consensus and EPS Surprise
Sandstorm Gold had cash and cash equivalents of $5 million at the end of 2023 compared with $7 million held at the end of 2022. Net cash provided by operating activities in 2023 was $153 million, up from the prior year's $107 million.
2023 Performance
The company delivered adjusted earnings per share of 14 cents in 2023, beating the Zacks Consensus Estimate of 10 cents. It reported adjusted earnings of 33 cents in 2022.
The company’s revenues grew 20.8% year over year to a record $180 million in 2023. However, the top line missed the Zacks Consensus Estimate of $185 million.
Guidance
Sandstorm Gold expects attributable gold equivalent ounces of 75,000-90,000 for 2024. Within the next five years, the company expects to produce 125,000 attributable gold-equivalent ounces.
Price Performance
Shares of the company have lost 18.9% in the past year against the industry’s growth of 0.5%.
Image Source: Zacks Investment Research
Zacks Rank & Stocks to Consider
Sandstorm Gold currently carries a Zacks Rank #3 (Hold).
The Zacks Consensus Estimate for Carpenter Technology’s 2024 earnings is pegged at $3.96 per share. The consensus estimate for 2024 earnings has moved 11% north in the past 60 days. It has an average trailing four-quarter earnings surprise of 14.3%. CRS shares have gained 29.8% in a year.
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 34.3% in a year.
Alpha Metallurgical Resources has an average trailing four-quarter earnings surprise of 9.6%. The Zacks Consensus Estimate for AMR’s 2024 earnings is pegged at $43.05 per share. Earnings estimates have moved 48% north in the past 60 days. AMR shares rallied 132% last year.
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Sandstorm Gold (SAND) Q4 Earnings Beat, Revenues Rise Y/Y
Sandstorm Gold Ltd. (SAND - Free Report) reported earnings per share of 8 cents in the fourth quarter of 2023, beating the Zacks Consensus Estimate of 2 cents. The company posted a loss per share of 1 cent in the year-ago quarter.
Sandstorm Gold’s total revenues amounted to $44 million, missing the Zacks Consensus Estimate of $46 million. The top line increased 15.9% year over year. The upside is driven by an increase in the average realized selling price of gold. The company reported attributable gold equivalent ounces of 23,250 compared with 21,753 in the prior-year quarter.
Total cost of sales came in at $4.9 million compared with the year-ago quarter’s $5.5 million. Gross profit climbed 20.4% year over year to $39.6 million. The gross margin was 89% in the fourth quarter compared with the prior-year quarter’s 85.7%.
The average cash cost per attributable gold equivalent ounce was $211 in the fourth quarter, down from $253 in the prior-year quarter. Cash operating margins were $1,737 per attributable gold equivalent ounce in fourth-quarter 2023, up from $1,493 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 million at the end of 2023 compared with $7 million held at the end of 2022. Net cash provided by operating activities in 2023 was $153 million, up from the prior year's $107 million.
2023 Performance
The company delivered adjusted earnings per share of 14 cents in 2023, beating the Zacks Consensus Estimate of 10 cents. It reported adjusted earnings of 33 cents in 2022.
The company’s revenues grew 20.8% year over year to a record $180 million in 2023. However, the top line missed the Zacks Consensus Estimate of $185 million.
Guidance
Sandstorm Gold expects attributable gold equivalent ounces of 75,000-90,000 for 2024. Within the next five years, the company expects to produce 125,000 attributable gold-equivalent ounces.
Price Performance
Shares of the company have lost 18.9% in the past year against the industry’s growth of 0.5%.
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 Carpenter Technology Corporation (CRS - Free Report) , Ecolab Inc. (ECL - Free Report) and Alpha Metallurgical Resources, Inc. (AMR - Free Report) . These three companies currently sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Carpenter Technology’s 2024 earnings is pegged at $3.96 per share. The consensus estimate for 2024 earnings has moved 11% north in the past 60 days. It has an average trailing four-quarter earnings surprise of 14.3%. CRS shares have gained 29.8% in a year.
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 34.3% in a year.
Alpha Metallurgical Resources has an average trailing four-quarter earnings surprise of 9.6%. The Zacks Consensus Estimate for AMR’s 2024 earnings is pegged at $43.05 per share. Earnings estimates have moved 48% north in the past 60 days. AMR shares rallied 132% last year.