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Sandstorm Gold (SAND) Posts Y/Y Preliminary Q2 Revenue Decline

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Sandstorm Gold Ltd. (SAND - Free Report) announced preliminary revenues and cash operating margins for the second quarter of 2024. Revenues in the quarter fell 16.9% year over year. The company’s cash operating margin moved up 17.1%.

SAND sold nearly 17,400 attributable gold equivalent ounces (GEOs) in the quarter. This marks a 29% decline from the 24,504 ounces of GEOs sold in second-quarter 2023. Sandstorm Gold delivered preliminary revenues of $41.4 million, down from the prior-year quarter’s $49.8 million.

SAND reported a preliminary cost of sales (excluding depletion) of $4.7 million, lower than the $5.6 million reported in the first quarter of 2023. The cash operating margin was $2,043 per attributable GEO in the quarter under review, higher than the prior-year quarter's $1,744.  

The company will report its second-quarter results for 2024 on Aug 1, 2024.
At the end of the first quarter of 2024, 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 gained 8% in the past year compared with the industry’s growth of 22.5%.

 

Zacks Investment Research
Image Source: Zacks Investment Research

 

Zacks Rank & Stocks to Consider

Sandstorm Gold currently carries a Zacks Rank #4 (Sell).

Some better-ranked stocks from the basic materials space are Ero Copper Corp. (ERO - Free Report) , Ecolab Inc. (ECL - Free Report) and ATI Inc. (ATI - Free Report) . ERO sports a Zacks Rank #1 (Strong Buy) at present, and ECL and ATI have a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for Ero Copper’s 2024 earnings is pegged at $1.66 per share. The consensus estimate for 2024 earnings has moved 20.3% north in the past 60 days. It has an average trailing four-quarter earnings surprise of 53.9%. ERO shares have gained 9.5% in a year.

The Zacks Consensus Estimate for Ecolab’s 2024 earnings is pegged at $6.59 per share, indicating an increase of 26.5% from the prior year’s reported number. It has an average trailing four-quarter earnings surprise of 1.3%. ECL shares have gained 34.5% in a year.

The Zacks Consensus Estimate for ATI’s 2024 earnings is pegged at $2.41 per share. The Zacks Consensus Estimate for ATI’s current-year earnings has been revised 3% north in the past 60 days. It has an average trailing four-quarter earnings surprise of 8.3%. The company’s shares have rallied 65.9% in the past year.

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