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Sandstorm Gold

TSX:SSL
Snowflake Description

Flawless balance sheet with reasonable growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
SSL
TSX
CA$1B
Market Cap
  1. Home
  2. CA
  3. Materials
Company description

Sandstorm Gold Ltd. operates as a gold royalty company. The last earnings update was 33 days ago. More info.


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SSL Share Price and Events
7 Day Returns
3.1%
TSX:SSL
1.7%
CA Metals and Mining
-0%
CA Market
1 Year Returns
23.8%
TSX:SSL
-3.9%
CA Metals and Mining
2.6%
CA Market
SSL Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Sandstorm Gold (SSL) 3.1% 0.7% 23.4% 23.8% 85.3% 19.8%
CA Metals and Mining 1.7% -0.5% 14.3% -3.9% 15% -18.9%
CA Market -0% 0.4% 15% 2.6% 16.8% 5.3%
1 Year Return vs Industry and Market
  • SSL outperformed the Metals and Mining industry which returned -3.9% over the past year.
  • SSL outperformed the Market in Canada which returned 2.6% over the past year.
Price Volatility
SSL
Industry
5yr Volatility vs Market

Value

 Is Sandstorm Gold undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Sandstorm Gold to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Sandstorm Gold.

TSX:SSL Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 4 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 8.6%
Perpetual Growth Rate 10-Year CA Government Bond Rate 1.9%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for TSX:SSL
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year CA Govt Bond Rate 1.9%
Equity Risk Premium S&P Global 6%
Metals and Mining Unlevered Beta Simply Wall St/ S&P Global 1.16
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.164 (1 + (1- 26.5%) (0%))
1.11
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.11
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.95% + (1.11 * 5.96%)
8.56%

Discounted Cash Flow Calculation for TSX:SSL using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Sandstorm Gold is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

TSX:SSL DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 8.56%)
2019 51.99 Analyst x3 47.89
2020 48.04 Analyst x4 40.76
2021 14.16 Analyst x1 11.07
2022 13.24 Est @ -6.53% 9.53
2023 12.71 Est @ -3.99% 8.43
2024 12.43 Est @ -2.21% 7.59
2025 12.31 Est @ -0.96% 6.93
2026 12.30 Est @ -0.09% 6.37
2027 12.36 Est @ 0.52% 5.90
2028 12.48 Est @ 0.95% 5.49
Present value of next 10 years cash flows $149.96
TSX:SSL DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $12.48 × (1 + 1.95%) ÷ (8.56% – 1.95%)
$192.35
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $192.35 ÷ (1 + 8.56%)10
$84.60
TSX:SSL Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $149.96 + $84.60
$234.56
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $234.56 / 181.06
$1.3
TSX:SSL Discount to Share Price
Calculation Result
Exchange Rate USD/CAD
(Reporting currency to currency of TSX:SSL)
1.341
Value per Share
(CAD)
= Value per Share in USD x Exchange Rate (USD/CAD)
= $1.3 x 1.341
CA$1.74
Value per share (CAD) From above. CA$1.74
Current discount Discount to share price of CA$7.69
= -1 x (CA$7.69 - CA$1.74) / CA$1.74
-342.8%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Sandstorm Gold is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Sandstorm Gold's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Sandstorm Gold's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
TSX:SSL PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in USD $0.03
TSX:SSL Share Price ** TSX (2019-03-22) in CAD CA$7.69
TSX:SSL Share Price converted to USD reporting currency Exchange rate (CAD/ USD) 0.746 $5.74
Canada Metals and Mining Industry PE Ratio Median Figure of 115 Publicly-Listed Metals and Mining Companies 13.35x
Canada Market PE Ratio Median Figure of 551 Publicly-Listed Companies 14.94x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Sandstorm Gold.

TSX:SSL PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= TSX:SSL Share Price ÷ EPS (both in USD)

= 5.74 ÷ 0.03

179.14x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Sandstorm Gold is overvalued based on earnings compared to the CA Metals and Mining industry average.
  • Sandstorm Gold is overvalued based on earnings compared to the Canada market.
Price based on expected Growth
Does Sandstorm Gold's expected growth come at a high price?
Raw Data
TSX:SSL PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 179.14x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts
70.4%per year
Canada Metals and Mining Industry PEG Ratio Median Figure of 35 Publicly-Listed Metals and Mining Companies 0.65x
Canada Market PEG Ratio Median Figure of 254 Publicly-Listed Companies 1.22x

*Line of best fit is calculated by linear regression .

TSX:SSL PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 179.14x ÷ 70.4%

2.54x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Sandstorm Gold is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Sandstorm Gold's assets?
Raw Data
TSX:SSL PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in USD $3.23
TSX:SSL Share Price * TSX (2019-03-22) in CAD CA$7.69
TSX:SSL Share Price converted to USD reporting currency Exchange rate (CAD/ USD) 0.746 $5.74
Canada Metals and Mining Industry PB Ratio Median Figure of 1,081 Publicly-Listed Metals and Mining Companies 1.46x
Canada Market PB Ratio Median Figure of 2,351 Publicly-Listed Companies 1.57x
TSX:SSL PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= TSX:SSL Share Price ÷ Book Value per Share (both in USD)

= 5.74 ÷ 3.23

1.78x

* Primary Listing of Sandstorm Gold.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Sandstorm Gold is overvalued based on assets compared to the CA Metals and Mining industry average.
X
Value checks
We assess Sandstorm Gold's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Metals and Mining industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Metals and Mining industry average (and greater than 0)? (1 check)
  5. Sandstorm Gold has a total score of 0/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Sandstorm Gold expected to perform in the next 1 to 3 years based on estimates from 4 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
70.4%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Sandstorm Gold expected to grow at an attractive rate?
  • Sandstorm Gold's earnings growth is expected to exceed the low risk savings rate of 1.9%.
Growth vs Market Checks
  • Sandstorm Gold's earnings growth is expected to exceed the Canada market average.
  • Sandstorm Gold's revenue growth is expected to exceed the Canada market average.
Annual Growth Rates Comparison
Raw Data
TSX:SSL Future Growth Rates Data Sources
Data Point Source Value (per year)
TSX:SSL Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts 70.4%
TSX:SSL Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 4 Analysts 7.4%
Canada Metals and Mining Industry Earnings Growth Rate Market Cap Weighted Average 34.4%
Canada Metals and Mining Industry Revenue Growth Rate Market Cap Weighted Average 6.9%
Canada Market Earnings Growth Rate Market Cap Weighted Average 18.1%
Canada Market Revenue Growth Rate Market Cap Weighted Average 7.1%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
TSX:SSL Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
TSX:SSL Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-12-31
2021-12-31 90 1
2020-12-31 86 59 38 3
2019-12-31 86 61 24 4
TSX:SSL Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2018-12-31 73 47 6
2018-09-30 71 46 4
2018-06-30 72 47 7
2018-03-31 69 44 4
2017-12-31 68 45 11
2017-09-30 69 45 10
2017-06-30 68 43 12
2017-03-31 68 41 19
2016-12-31 62 39 25
2016-09-30 56 34 0
2016-06-30 51 32 -12
2016-03-31 51 32 -31

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Sandstorm Gold's earnings are expected to grow significantly at over 20% yearly.
  • Sandstorm Gold's revenue is expected to grow by 7.4% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
TSX:SSL Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below

All data from Sandstorm Gold Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSX:SSL Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-12-31
2021-12-31
2020-12-31 0.14 0.14 0.14 1.00
2019-12-31 0.09 0.14 0.06 3.00
TSX:SSL Past Financials Data
Date (Data in USD Millions) EPS *
2018-12-31 0.03
2018-09-30 0.02
2018-06-30 0.04
2018-03-31 0.02
2017-12-31 0.06
2017-09-30 0.06
2017-06-30 0.08
2017-03-31 0.13
2016-12-31 0.18
2016-09-30 0.00
2016-06-30 -0.09
2016-03-31 -0.25

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Sandstorm Gold is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Sandstorm Gold's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Canada market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Canada market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Sandstorm Gold has a total score of 4/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Sandstorm Gold performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Sandstorm Gold's growth in the last year to its industry (Metals and Mining).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Sandstorm Gold has delivered over 20% year on year earnings growth in the past 5 years.
  • Sandstorm Gold's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Sandstorm Gold's 1-year earnings growth is negative, it can't be compared to the CA Metals and Mining industry average.
Earnings and Revenue History
Sandstorm Gold's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Sandstorm Gold Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSX:SSL Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 73.15 5.87 6.90
2018-09-30 71.14 3.83 6.79
2018-06-30 71.79 6.51 7.05
2018-03-31 68.92 3.95 6.94
2017-12-31 68.28 10.54 6.85
2017-09-30 69.29 9.81 6.32
2017-06-30 68.17 11.95 5.54
2017-03-31 67.81 19.06 5.26
2016-12-31 62.37 25.25 5.03
2016-09-30 55.77 0.31 5.05
2016-06-30 51.04 -12.07 5.32
2016-03-31 50.76 -30.72 5.40
2015-12-31 52.66 -43.06 5.69
2015-09-30 55.29 -15.49 3.33
2015-06-30 58.76 -7.94 4.03
2015-03-31 56.48 8.55 4.20
2014-12-31 56.49 11.52 4.54
2014-09-30 59.77 -30.96 7.99
2014-06-30 59.57 -34.48 8.99
2014-03-31 59.77 -52.49 10.65
2013-12-31 59.84 -73.75 11.75
2013-09-30 56.49 -26.52 12.51
2013-06-30 56.24 -20.22 10.81
2013-03-31 57.84 0.04 8.93
2012-12-31 55.94 21.93 7.24
2012-09-30 54.65 19.44 5.59
2012-06-30 49.14 18.97 5.00
2012-03-31 39.76 15.95 4.59

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Sandstorm Gold has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Sandstorm Gold used its assets less efficiently than the CA Metals and Mining industry average last year based on Return on Assets.
  • Sandstorm Gold has become profitable over the past 3 years. This is considered to be a significant improvement in its use of capital (Return on Capital Employed).
X
Past performance checks
We assess Sandstorm Gold's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Metals and Mining industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Sandstorm Gold has a total score of 2/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Sandstorm Gold's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Sandstorm Gold's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Sandstorm Gold is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Sandstorm Gold's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Sandstorm Gold's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Sandstorm Gold has no debt, it does not need to be covered by short term assets.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Sandstorm Gold Company Filings, last reported 2 months ago.

TSX:SSL Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 583.40 0.00 19.83
2018-09-30 571.71 0.00 20.16
2018-06-30 615.35 0.00 13.23
2018-03-31 639.60 2.00 3.80
2017-12-31 651.67 0.00 30.79
2017-09-30 658.77 0.00 18.28
2017-06-30 536.11 0.00 4.57
2017-03-31 542.93 0.00 35.39
2016-12-31 527.31 0.00 21.43
2016-09-30 532.67 0.00 10.05
2016-06-30 457.27 59.50 3.11
2016-03-31 441.57 77.00 5.32
2015-12-31 402.65 83.50 5.35
2015-09-30 399.53 0.00 46.51
2015-06-30 406.23 0.00 51.60
2015-03-31 415.71 0.00 38.32
2014-12-31 421.55 0.00 90.22
2014-09-30 433.47 2.20 91.13
2014-06-30 443.31 2.20 111.39
2014-03-31 391.01 0.00 110.96
2013-12-31 370.14 0.00 98.94
2013-09-30 410.21 0.00 93.59
2013-06-30 407.33 0.00 94.04
2013-03-31 432.98 0.00 96.92
2012-12-31 336.18 0.00 127.36
2012-09-30 327.49 0.00 104.11
2012-06-30 173.28 0.00 25.09
2012-03-31 166.40 0.00 34.17
  • Sandstorm Gold has no debt.
  • Sandstorm Gold had no debt 5 years ago.
  • Sandstorm Gold has no debt, it does not need to be covered by operating cash flow.
  • Sandstorm Gold has no debt, therefore coverage of interest payments is not a concern.
X
Financial health checks
We assess Sandstorm Gold's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Sandstorm Gold has a total score of 6/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Sandstorm Gold's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from Sandstorm Gold dividends.
If you bought CA$2,000 of Sandstorm Gold shares you are expected to receive CA$0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate Sandstorm Gold's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Sandstorm Gold's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
TSX:SSL Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below
Canada Metals and Mining Industry Average Dividend Yield Market Cap Weighted Average of 28 Stocks 1.1%
Canada Market Average Dividend Yield Market Cap Weighted Average of 331 Stocks 3.6%
Canada Minimum Threshold Dividend Yield 10th Percentile 1.1%
Canada Bottom 25% Dividend Yield 25th Percentile 2%
Canada Top 25% Dividend Yield 75th Percentile 5.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

TSX:SSL Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2022-12-31
2021-12-31
2020-12-31
2019-12-31

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as Sandstorm Gold has not reported any payouts.
  • Unable to verify if Sandstorm Gold's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Sandstorm Gold's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Sandstorm Gold has not reported any payouts.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Sandstorm Gold's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.1%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Sandstorm Gold afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Sandstorm Gold has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Sandstorm Gold's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Nolan Watson
COMPENSATION $1,739,990
AGE 38
TENURE AS CEO 10.5 years
CEO Bio

Mr. Nolan Allan Watson, BComm, CA, CFA, has been the Chief Executive Officer and President of Sandstorm Gold Ltd. (also known as, Sandstorm Resources Ltd.) since September 23, 2008. Mr. Watson is a Co-Founder of Sandstorm Gold Ltd. He served as the Chief Executive Officer and President of Sandstorm Metals & Energy Ltd. from January 4, 2010 to May 2014. Mr. Watson served as the Chief Financial Officer of Silver Wheaton Corp. (Wheaton Precious Metals Corp.) from April 20, 2006 to July 1, 2008 and served as its Controller from 2005 to March 2006. From July 2008 to September 2008, he was an Independent Businessman. From 2003 to 2004, he served as a Financial Advisor and Merger and Acquisition Specialist with Deloitte & Touche LLP. He has been the Chairman of the Board at Royalty North Partners Ltd since June 23, 2016. He served as Chairman of Sandstorm Gold Ltd from January 14, 2013 to April 8, 2016. He served as the Chairman of Sandstorm Metals & Energy Ltd. from January 14, 2013 to March 2016. He was an Independent Director of Bear Creek Mining Corp. from August 19, 2009 until June 06, 2018; Blue Gold Mining Inc. since September 12, 2011; Sandstorm Gold Ltd., since September 12, 2008 and Sandstorm Metals & Energy Ltd., since January 4, 2010. He served as a Director at True Gold Mining Inc. from December 17, 2012 to May 2016. He served as a Director of TrueGold Mining Inc. He served as a Member of the Advisory Board at NuLegacy Gold Corporation. His areas of expertise includes Executive Management, Finance & Capital Markets, Accounting and Mergers & Acquisitions. He served as a Director of Franco-Nevada GLW Holdings Corp. (also known as Gold Wheaton Gold Corp.) from September 29, 2008 to March 14, 2011 and Luna Gold Corp. from June 18, 2008 to March 12, 2009. He has won numerous awards for his professional and charitable achievements including Valedictorian of the Chartered Accounting Program of the Institute of Chartered Accountants of British Columbia and was recognized as one of the "Most Motivated" Chartered Financial Analyst's in the world by Chartered Financial Analyst Magazine. Mr. Watson is a Chartered Financial Analyst charter holder and holds a Bachelor of Commerce Degree, with honors, from the University of British Columbia. Mr. Watson is a Fellow of the Chartered Professional Accountants of British Columbia (Valedictorian).

CEO Compensation
  • Nolan's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.
  • Nolan's remuneration is about average for companies of similar size in Canada.
Management Team Tenure

Average tenure and age of the Sandstorm Gold management team in years:

6.2
Average Tenure
45
Average Age
  • The average tenure for the Sandstorm Gold management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Nolan Watson

TITLE
Co-founder
COMPENSATION
$2M
AGE
38
TENURE
10.5 yrs

David Awram

TITLE
Co-founder
COMPENSATION
$1M
AGE
45

Erfan Kazemi

TITLE
Chief Financial Officer
COMPENSATION
$780K
TENURE
7.6 yrs

Adam Spencer

TITLE
Senior Vice President of Corporate Development
COMPENSATION
$586K
AGE
33
TENURE
2.9 yrs

Tom Bruington

TITLE
Executive Vice President of Project Evaluation
COMPENSATION
$771K
TENURE
6.2 yrs

Keith Laskowski

TITLE
Vice President of Technical Services
AGE
61

George Darling

TITLE
Senior Vice President of Engineering
TENURE
1.2 yrs

Christine Gregory

TITLE
Corporate Secretary
AGE
64
Board of Directors Tenure

Average tenure and age of the Sandstorm Gold board of directors in years:

9.8
Average Tenure
60
Average Age
  • The tenure for the Sandstorm Gold board of directors is about average.
Board of Directors

Dave De Witt

TITLE
Non-Executive Chairman
COMPENSATION
$149K
AGE
66
TENURE
3 yrs

Nolan Watson

TITLE
Co-founder
COMPENSATION
$2M
AGE
38
TENURE
10.5 yrs

David Awram

TITLE
Co-founder
COMPENSATION
$1M
AGE
45
TENURE
12 yrs

John Philip Budreski

TITLE
Independent Director
COMPENSATION
$149K
AGE
60
TENURE
9.8 yrs

Mary Little

TITLE
Independent Director
COMPENSATION
$149K
AGE
64
TENURE
4.8 yrs

Andrew Swarthout

TITLE
Independent Director
COMPENSATION
$149K
AGE
66
TENURE
10 yrs

Vera Kobalia

TITLE
Independent Director
AGE
35
TENURE
0.8 yrs
Who owns this company?
Recent Insider Trading
  • Sandstorm Gold insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (CA$) Value (CA$)
06. Mar 19 Sell Erfan Kazemi Individual 04. Mar 19 04. Mar 19 -315,000 CA$7.15 CA$-2,251,305
20. Aug 18 Buy Nolan Watson Individual 15. Aug 18 15. Aug 18 41,300 CA$4.87 CA$201,193
29. Jun 18 Sell David Awram Individual 28. Jun 18 28. Jun 18 -300,000 CA$5.93 CA$-1,779,000
28. Jun 18 Buy Nolan Watson Individual 28. Jun 18 28. Jun 18 9,600 CA$5.92 CA$56,832
24. Apr 18 Sell Andrew Swarthout Individual 24. Apr 18 24. Apr 18 -34,000 CA$5.82 CA$-197,362
19. Apr 18 Sell Andrew Swarthout Individual 16. Apr 18 16. Apr 18 -7,100 CA$5.90 CA$-41,890
X
Management checks
We assess Sandstorm Gold's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Sandstorm Gold has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

A Closer Look At Sandstorm Gold Ltd.'s (TSE:SSL) Uninspiring ROE

Sandstorm Gold has a ROE of 1.0%, based on the last twelve months. … One way to conceptualize this, is that for each CA$1 of shareholders' equity it has, the company made CA$0.010 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Did You Miss Sandstorm Gold's 92% Share Price Gain?

(TSE:SSL) shareholders have seen the share price rise 92% over three years, well in excess of the market return (36%). … During the three years of share price growth, Sandstorm Gold actually saw its earnings per share (EPS) drop 41% per year. … It may well be that Sandstorm Gold revenue growth rate of 12% over three years has convinced shareholders to believe in a brighter future.

Simply Wall St -

Shareholders Should Look Hard At Sandstorm Gold Ltd.’s (TSE:SSL) 1.1% Return On Capital

Specifically, we'll consider its Return On Capital Employed (ROCE), since that will give us an insight into how efficiently the business can generate profits from the capital it requires. … Return On Capital Employed (ROCE): What is it? … ROCE measures the 'return' (pre-tax profit) a company generates from capital employed in its business.

Simply Wall St -

Are Sandstorm Gold Ltd.'s (TSE:SSL) Interest Costs Too High?

(TSE:SSL), which sports a zero-debt capital structure, to include debt in its capital structure is the reduced cost of capital. … Is SSL growing fast enough to value financial flexibility over lower cost of capital … Debt capital generally has lower cost of capital compared to equity funding.

Simply Wall St -

Who Has Been Selling Sandstorm Gold Ltd. (TSE:SSL) Shares?

So we'll take a look at whether insiders have been buying or selling shares in Sandstorm Gold Ltd. … But logic dictates you should pay some attention to whether insiders are buying or selling shares. … Over the last year we saw more insider selling of Sandstorm Gold shares, than buying.

Simply Wall St -

Does Market Volatility Impact Sandstorm Gold Ltd's (TSE:SSL) Share Price?

If you're interested in Sandstorm Gold Ltd (TSE:SSL), then you might want to consider its beta (a measure of share price volatility) in order to understand how the stock could impact your portfolio. … Some investors use beta as a measure of how much a certain stock is impacted by market risk (volatility). … A stock with a beta below one is either less volatile than the market, or more volatile but not corellated with the overall market.

Simply Wall St -

Is Sandstorm Gold Ltd's (TSE:SSL) ROE Of 1.1% Concerning?

Over the last twelve months Sandstorm Gold has recorded a ROE of 1.1%. … View our latest analysis for Sandstorm Gold? … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Do You Know Who Else Invests In Sandstorm Gold Ltd (TSE:SSL)?

A look at the shareholders of Sandstorm Gold Ltd (TSE:SSL) can tell us which group is most powerful. … Sandstorm Gold is a smaller company with a market capitalization of CA$922m, so it may still be flying under the radar of many institutional investors. … Taking a look at the our data on the ownership groups (below), it's seems that.

Simply Wall St -

Would You Care If Sandstorm Gold Ltd (TSE:SSL) Insiders Were Selling?

Sandstorm Gold Ltd. … Sandstorm Gold's insiders have divested from. … A well-known argument is that insiders divesting from their own companies’ shares sends a pessimistic signal

Simply Wall St -

Should You Have Sandstorm Gold Ltd's (TSE:SSL) In Your Portfolio?

Generally, an investor should consider two types of risk that impact the market value of SSL. … The other type of risk, which cannot be diversified away, is market risk. … A popular measure of market risk for a stock is its beta, and the market as a whole represents a beta value of one.

Simply Wall St -

Company Info

Description

Sandstorm Gold Ltd. operates as a gold royalty company. It focuses on acquiring gold and other metal purchase agreements and royalties from companies that have advanced stage development projects or operating mines. The company offers upfront payments for companies to acquire a gold stream or royalty and receives the right to purchase a percentage of a mine’s production for the life of the mine at a fixed price per unit or at a fixed percentage of the spot price. The company has a portfolio of approximately 187 streams and royalties. It has operations in Canada, Mexico, the United States, Mongolia, Burkina Faso, Ecuador, South Africa, Ghana, Botswana, Cote D’Ivoire, Argentina, Brazil, Chile, Peru, Paraguay, Honduras, French Guiana, Turkey, Sweden, and Australia. The company was formerly known as Sandstorm Resources Ltd. and changed its name to Sandstorm Gold Ltd. in February 2011. Sandstorm Gold Ltd. was incorporated in 2007 and is headquartered in Vancouver, Canada.

Details
Name: Sandstorm Gold Ltd.
SSL
Exchange: TSX
Founded: 2007
CA$1,392,333,297
181,057,646
Website: http://www.sandstormgold.com
Address: Sandstorm Gold Ltd.
400 Burrard Street,
Suite 1400,
Vancouver,
British Columbia, V6C 3A6,
Canada
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSX SSL Common Shares The Toronto Stock Exchange CA CAD 13. Aug 2007
AMEX SAND Common Shares NYSE MKT LLC US USD 13. Aug 2007
DB AYS1 Common Shares Deutsche Boerse AG DE EUR 13. Aug 2007
LSE 0VGM Common Shares London Stock Exchange GB CAD 13. Aug 2007
Number of employees
Current staff
Staff numbers
19
Sandstorm Gold employees.
Industry
Gold
Materials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/03/24 00:01
End of day share price update: 2019/03/22 00:00
Last estimates confirmation: 2019/03/11
Last earnings filing: 2019/02/19
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.