Sandstorm Gold Stock Price, News & Analysis

Royal Gold (NASDAQ: RGLD) has announced agreements to acquire Sandstorm Gold Ltd. and Horizon Copper Corp. in transactions valued at approximately $3.5 billion and $196 million respectively. The Sandstorm acquisition involves a share exchange ratio of 0.0625 Royal Gold shares per Sandstorm share, representing a 21% premium, while Horizon shareholders will receive C$2.00 per share in cash, a 85% premium.

The combined transactions will add 40 producing assets to Royal Gold's portfolio, expected to contribute 65,000-80,000 gold equivalent ounces in 2025, increasing production by approximately 26%. The pro forma company will have 80 revenue-producing assets, with no single asset accounting for more than 13% of NAV, making it the most diversified portfolio in the streaming and royalty sector.

Post-transaction, Royal Gold shareholders will own approximately 77% and Sandstorm shareholders 23% of the combined company. The pro forma revenue mix will be approximately 87% from precious metals, with gold contributing 75% of total revenue.

Royal Gold has announced the acquisition of Sandstorm Gold Royalties (NYSE: SAND) in an all-share transaction valued at approximately $3.5 billion. Sandstorm shareholders will receive 0.0625 Royal Gold shares for each Sandstorm share, representing a 21% premium to the 20-day VWAP. Concurrently, Royal Gold will acquire Horizon Copper in an all-cash transaction valued at $196 million.

The combined entity will create the world's most diversified, large-scale precious metals streaming and royalty company with 393 royalties and streams, including 80 cash-flowing assets. The pro-forma 2025 revenue mix is expected to be 87% precious metals, with 75% from gold. Upon completion, existing Royal Gold and Sandstorm shareholders will own approximately 77% and 23% of the combined company, respectively.

Sandstorm Gold Royalties (NYSE: SAND) has announced its second quarterly dividend for 2025. The company will pay a cash dividend of C$0.02 per common share to shareholders of record as of July 15, 2025, with the payment scheduled for July 25, 2025.

The dividend qualifies as an "eligible dividend" under Canadian tax law, though non-resident investors will be subject to Canadian withholding taxes. The company maintains flexibility to modify its dividend program based on various factors including financial position, profitability, and cash flow.

Sandstorm Gold Royalties reports significant exploration developments across its portfolio. At Santa Elena, First Majestic discovered the Santo Niño vein, with notable intercepts including 8.38 g/t gold and 248 g/t silver over 1.91m. Lundin Gold expanded its Fruta del Norte drilling program to 108,000 meters, reporting high-grade results including 72.80 g/t gold over 7.95m. At Hugo North Extension, impressive results include 260m grading 3.29% copper and 2.08 g/t gold. Awalé Resources reported strong drilling results at Odienné, with intercepts up to 12.0 g/t gold over 26.0m. Omai Gold Mines encountered significant mineralization including 28.04 g/t gold over 9.3m at Wenot. Troilus Gold's 2025 campaign revealed notable intercepts including 56m of 2.03 g/t gold at its Quebec project.

Sandstorm Gold Royalties (NYSE: SAND) held its Annual General and Special Meeting on May 30, 2025, in Vancouver, with 70% shareholder participation. All proposed resolutions were approved, including the re-election of eight director nominees. Nolan Watson received the highest approval rate at 99.26%, followed by David Awram at 98.43% and Vera Kobalia at 98.07%. Mary L. Little and Elif Levesque received lower approval rates at 79.53% and 82.78% respectively, while John P.A. Budreski secured 87.85% of votes. The voting results demonstrate strong shareholder support for most board members, though with notable variation in approval rates.

Sandstorm Gold Royalties (NYSE: SAND) has announced clarifying amendments to its share-based compensation program following incorrect calculations by ISS in their voting recommendations. The company is implementing a simplified Global Combined Maximum Limit of 6.0% for the total number of common shares issuable under their Share Plans, effective January 1, 2025. This replaces the previously proposed declining rate structure from 6.0% in 2025 to 5.0% in 2027, which ISS had misinterpreted as cumulative rather than declining. Glass, Lewis & Co. LLC has recommended shareholders vote FOR the management proposals. The Toronto Stock Exchange has conditionally approved these amendments, which the company considers housekeeping in nature and will not require additional shareholder approval at the May 30, 2025 Annual Meeting.

Sandstorm Gold Royalties (NYSE: SAND) reported record Q1 2025 financial results, with revenue reaching $50.1 million, up from $42.8 million in Q1 2024. The company achieved record operating margins of $2,509 per gold equivalent ounce and net income of $11.3 million. Production was 18,492 attributable gold equivalent ounces, with 73% from precious metals. The company continued its shareholder-friendly initiatives by purchasing 3.1 million shares for $19.1 million and reducing debt by $15 million. Key developments include the Hod Maden joint venture's approval of $60-$100 million in early-works capital, Glencore's planned RIGI application for the MARA project, and the Greenstone mine's ongoing ramp-up. Sandstorm forecasts 2025 production between 65,000-80,000 gold equivalent ounces, with a long-term target of 150,000 ounces by 2030.

Sandstorm Gold Royalties (NYSE: SAND) has reported strong preliminary results for Q1 2025, achieving record revenue of $50.1 million from approximately 18,500 attributable gold equivalent ounces sold. This represents an increase from $42.8 million in revenue and 20,316 ounces in Q1 2024.

The company achieved record preliminary total sales, royalties, and income of $54.1 million, with record cash operating margins of $2,507 per attributable gold equivalent ounce. Cost of sales, excluding depletion, was $6.9 million for the quarter.

In a significant capital allocation move, Sandstorm repurchased and cancelled approximately 3.1 million common shares for $19.0 million during Q1 2025. The company maintains a revolving credit facility with an outstanding balance of $340 million and an available balance of $285 million. Full Q1 2025 results will be released on May 6, 2025.

Sandstorm Gold Royalties (NYSE: SAND) announces significant developments for the Hod Maden gold-copper project in Türkiye. The joint venture has approved early-works capital investments of US$60-$100 million for 2025, supplementing the US$42 million development costs from 2024. The project's critical path items, focusing on road and tunnel construction, will be prioritized.

Technical work and infill drilling continue to validate previous due diligence outcomes, with SSR Mining planning an initial exploration program for deposit extension. The company maintains its forecast for first production in 2028. Sandstorm holds a 2.0% net smelter returns royalty and a gold stream agreement, allowing purchase of 20% of all gold produced at 50% of spot price until 405,000 ounces, followed by 12% of gold at 60% of spot price for the mine's lifetime.