Sandstorm Gold (SSL.TO) edged up in after-hours New York trading after the company on Tuesday afternoon released its preliminary first-quarter results.
The royalty and streaming company company said during the quarter ended March 31 it sold about 18,500 gold equivalent ounces and achieved revenue of US$50.1 million, compared with US$42.8 million in the first quarter of 2024. Total sales, royalties, and income from other interests for the quarter were US$54.1 million, up from US$42.8 million in the year-ago quarter.
The preliminary cost of sales, excluding depletion, was US$6.9 million, resulting in a cash operating margin of US$2,507 per gold equivalent ounce, up from US$1,782 per ounce a year ago, the company added.
The company also said that in the first quarter, it repurchased about 3.1-million shares for US$19 million. As of March 31, Sandstorm's revolving credit facility balance was US$340 million, with an undrawn balance of US$285 million.
The company's shares were last seen up US$0.02 to US$6.84 after hours. They closed down $0.10 to $9.70 on the Toronto Stock Exchange.
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