Sandstorm Gold .(SAND)
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Sandstorm Gold .(SAND) - 2024 Q3 - Earnings Call Transcript
2024-11-09 04:19
财务数据和关键指标变化 - 2024年第三季度公司营收为4470万美元,其中2670万美元来自流媒体合同,1800万美元来自特许权使用费,相比2023年同期,运营活动现金流(不包括非现金营运资本)从3390万美元增加到3700万美元,净收入从2023年第三季度接近零增长到580万美元,现金运营利润率达到每盎司2215美元,连续两个季度创纪录[25] - 第三季度公司在其循环信贷安排上净偿还900万美元债务,截至2024年第四季度前五周又额外偿还1000万美元,截至昨天债务余额为3.69亿美元[25][26] 各条业务线数据和关键指标变化 - 在加拿大,Greenstone产量持续上升,第三季度公司从Greenstone收到并出售近1200金衡盎司,部分抵消了BC省Copper Mountain矿产量的同比下降;在南美洲,巴西Chapada铜矿销售的铜磅数增加55%,阿根廷Cerro Moro矿因矿序预期品位下降导致银盎司销售量下降,但银的平均实现销售价格同比增长33%;厄瓜多尔Fruta del Norte矿的特许权使用费收入增加,该矿运营商发布了令人印象深刻的钻探结果,计划2024年进行冶金研究,预计2025年中得出新的矿床资源估计[27] - 巴西Arizona矿,Equinox在第一季度Piaba Pit物料位移后恢复开采,第二和第三季度因加工厂闲置,特许权使用费收入受到负面影响,5月开始在Tatajuba pit开采,预计将为2024年剩余时间提供大部分矿石[28] - 科特迪瓦Bonikro金矿流推动了美洲以外矿山产量增加,其运营商计划2024年投入1650万美元用于推进高优先级目标,以优化运营、延长矿山寿命和增加资产价值[28] 各个市场数据和关键指标变化 - 未提及 公司战略和发展方向和行业竞争 - 公司目前主要资本分配优先事项为偿还债务并可能进行一些股票回购,不计划在明年进行重大新交易投资,重点关注债务偿还,随着黄金价格上涨,债务偿还速度正在加速,预计2025年将继续加速[22] - 公司的三个关键发展项目Platreef、MARA和Hod Maden对公司未来股价驱动至关重要,Platreef由Ivanhoe Mines建造,预计将成为世界上最大和成本最低的PGM、镍、铜和金生产商之一,MARA项目预计年生产7 - 8.5万盎司,其拥有者Glencore已公开表示计划建设该项目,Hod Maden虽存在不确定性但公司仍相信其会推进,SSR在该项目上本季度投入1000万美元,可作为项目进展的一个指标[9][10][13][14][15] - 公司认为自身相对于同行存在估值折扣,主要原因包括遗留债务观念(目前债务已降至3.69亿美元且在迅速下降)、Orion Mine Finance持股情况(已降至10%以下且出售过程顺利)、投资者担心股权发行以及对发展项目缺乏了解,随着这些问题逐步解决,公司估值有望提升[16][17][18][20] 管理层对经营环境和未来前景的评论 - 尽管黄金等价盎司(GEOs)较低,但由于商品价格上涨,第三季度财务表现持续强劲,且随着黄金价格持续创新高,预计年底将再创纪录,管理层对公司未来充满信心,预计2024年黄金等价盎司产量在7 - 7.5万盎司之间,未来五年仅基于现有业务,产量预计将达到约12.5万盎司[25][29][30] - 管理层认为美国赤字显著增加将在长期加速人们对黄金的购买,对黄金市场持乐观态度,但短期内不打算进行重大交易,长期来看也不会改变对收购的看法[43] 其他重要信息 - 公司将通过更多地谈论发展项目、提供更多资料(包括面向零售投资者的视频、演示文稿等)、举办投资者日等方式来缩小市场投资知识差距[41] - 关于Entrée的仲裁情况,虽然市场存在一些猜测,但目前来看不会影响Sandstorm预期的现金流时间或预期,且Entrée近期的钻探结果显示Sandstorm可能会获得比预期更多的黄金和铜产量[53][54] 问答环节所有的提问和回答 问题: 如何缩小市场投资知识差距 - 公司可以通过更频繁地谈论、提供项目阶段的更多清晰度、为投资者(包括零售投资者)提供更多资料(如视频、演示文稿)、举办投资者日等方式来缩小市场投资知识差距[41] 问题: 美国大选获胜是否会改变公司内部承担风险的意愿以及内部门槛和贴现率 - 短期内不会改变,因为公司在未来一到两年不打算进行重大交易;长期来看,公司对黄金市场更乐观,但不会改变对收购的看法[43] 问题: 公司如何在债务减少和股票回购之间平衡资本分配,利率下降环境是否会改变对债务的看法 - 长期来看利率下降会有影响,但影响不大,公司仍希望将大部分现金流用于债务减少,预计到2025年第一季度债务减少将加速到接近每季度3000万美元,股票回购将在每季度0 - 500万美元之间[45] 问题: 公司在未来两年是否有除MARA项目外的交易计划 - 公司目前的目标是债务减少优先,股票回购其次,除了MARA项目外,没有看到任何让公司想要改变计划的交易[48] 问题: 能否介绍Entrée的仲裁情况及其对公司的最终影响 - Entrée继续进行仲裁程序,虽然市场有猜测,但从长期来看不会影响Sandstorm预期的现金流时间或预期,且Entrée近期的钻探结果显示Sandstorm可能会获得比预期更多的黄金和铜产量[53][54]
Sandstorm Gold Royalties Announces 2024 Third Quarter Results
Prnewswire· 2024-11-08 05:42
VANCOUVER, BC, Nov. 7, 2024 /PRNewswire/ - Sandstorm Gold Ltd. ("Sandstorm Gold Royalties", "Sandstorm" or the "Company") (NYSE: SAND) (TSX: SSL) has released its financial results for the third quarter ended September 30, 2024 (figures in U.S. dollars unless otherwise indicated).Financial Highlights $44.7 million of revenue compared to $41.3 million in Q3 2023; 17,359 attributable gold equivalent ounces1 compared to 21,123 ounces in Q3 2023; $37.0 million in cash flows from operating activities, excluding ...
SMART SAND, INC. ANNOUNCES TIMING OF THIRD QUARTER 2024 EARNINGS RELEASE AND INVESTOR CONFERENCE CALL
Prnewswire· 2024-10-30 04:00
YARDLEY, Pa., Oct. 29, 2024 /PRNewswire/ -- Smart Sand, Inc. (NASDAQ: SND) ("Smart Sand" or the "Company") announced today that it will release its third quarter financial results after the market closes on Tuesday, November 12, 2024. The Company will hold a conference call for investors on Wednesday, November 13, 2024, at 10:00 a.m. Eastern Time to discuss recent events and the results. Chuck Young, the Company's chief executive officer, Lee Beckelman, the Company's chief financial officer, John Young, the ...
Wall Street Analysts Predict a 25.4% Upside in Sandstorm Gold (SAND): Here's What You Should Know
ZACKS· 2024-10-25 22:56
Shares of Sandstorm Gold (SAND) have gained 0.8% over the past four weeks to close the last trading session at $6.30, but there could still be a solid upside left in the stock if short-term price targets of Wall Street analysts are any indication. Going by the price targets, the mean estimate of $7.90 indicates a potential upside of 25.4%. The average comprises 11 short-term price targets ranging from a low of $6 to a high of $11.50, with a standard deviation of $1.45. While the lowest estimate indicates a ...
Sandstorm Gold Offers Unique Growth Potential Amid Record Gold Prices
Seeking Alpha· 2024-10-16 11:15
文章核心观点 - 随着黄金价格的上涨,达到了创纪录的2600美元以上,黄金矿业公司的投资者获得了回报,VanEck黄金矿业ETF(GDX)今年迄今上涨30.6% [1] - 但直接投资黄金矿业公司或黄金现货可能存在风险,需要深入研究和分析 [1] 公司研究 - Mountain Valley Value Investments专注于发现价值被低估但增长潜力强劲的公司 [1] - 该公司采用深入行业洞察和严格分析的方法,发掘有潜力带来强劲回报的投资机会 [1] - 该公司的投资理念建立在严谨的研究和突出可能影响投资论点的风险的承诺之上 [1] - 该公司旨在为读者提供经得起时间考验的可操作的投资理念 [1] 行业研究 - 黄金价格上涨,带动了黄金矿业公司的股价上涨 [1] - 但直接投资黄金矿业公司或黄金现货可能存在风险,需要深入研究和分析 [1]
Sandstorm Gold Royalties Announces 2024 Third Quarter Sales and Revenue; Financial Results to be Released November 7
Prnewswire· 2024-10-11 04:20
DESIGNATED PRESS RELEASE VANCOUVER, BC, Oct. 10, 2024 /PRNewswire/ - Sandstorm Gold Ltd. ("Sandstorm Gold Royalties", "Sandstorm", or the "Company") (NYSE: SAND) (TSX: SSL) is pleased to report the sales and revenue figures for the third quarter ended September 30, 2024 (all figures in U.S. dollars). Third Quarter Preliminary Sales and Revenue During the three months ended September 30, 2024, the Company sold approximately 17,350 attributable gold equivalent ounces1 and realized preliminary revenue2 of $44. ...
SMART SAND, INC. DECLARES SPECIAL DIVIDEND OF $0.10 PER SHARE AND AUTHORIZES SHARE REPURCHASE PROGRAM
Prnewswire· 2024-10-04 04:00
YARDLEY, Pa., Oct. 3, 2024 /PRNewswire/ -- Smart Sand, Inc. (NASDAQ: SND) ("Smart Sand" or the "Company") announced today that its board of directors has declared a special cash dividend on the Company's common stock of $0.10 per share, payable on October 28, 2024, to stockholders of record as of the close of business on October 15, 2024. The Company also announced today that its board of directors approved a share repurchase program authorizing the Company to repurchase up to $10.0 million of the Company's ...
How Much Upside is Left in Sandstorm Gold (SAND)? Wall Street Analysts Think 27.77%
ZACKS· 2024-10-02 22:56
Shares of Sandstorm Gold (SAND) have gained 7.8% over the past four weeks to close the last trading session at $6.05, but there could still be a solid upside left in the stock if short-term price targets of Wall Street analysts are any indication. Going by the price targets, the mean estimate of $7.73 indicates a potential upside of 27.8%. The average comprises 11 short-term price targets ranging from a low of $6 to a high of $11.50, with a standard deviation of $1.48. While the lowest estimate indicates a ...
Sandstorm Gold Royalties Reports Portfolio Drilling and Exploration Activity
Prnewswire· 2024-09-13 04:20
VANCOUVER, Sept. 12, 2024 /PRNewswire/ - Sandstorm Gold Ltd. ("Sandstorm Gold Royalties", "Sandstorm" or the "Company") (NYSE: SAND) (TSX: SSL) is pleased to provide various drilling and exploration updates from its diversified portfolio of streaming and royalty assets. Lundin Gold Provides Bonza Sur Gold Discovery Updates; Expands Near-Mine Drill Program Lundin Gold Inc. ("Lundin Gold") announced additional results from its 2024 near-mine drilling program, with recent intercepts continuing to delineate the ...
Sandstorm Gold Gives Updates on its Portfolio Developments
ZACKS· 2024-09-06 20:06
Sandstorm Gold Ltd. (SAND) has announced updates on certain development projects from its diversified portfolio of streaming and royalty assets. These updates reflect Sandstorm Gold's commitment to delivering value across its diversified portfolio, with a focus on quality assets and strategic partnerships. SAND's Portfolio Grows With Greenstone Gold Mine Milestone The company's gold stream at the Greenstone mine, a fully owned mine by Equinox Gold (EQX) , has reached a crucial milestone with its official op ...