Sandstorm Gold beats revenue estimates, trades up
Sandstorm Gold was up 4% to $9.52 a share.
The company said it sold 16,113 attributable gold ounces versus 14,182 ounces it sold a year ago.
Net income was up at $5.3 million compared to $2.7 million a year ago.
Full-year production was 63,829 ounces. Outlook for 2020 is about the same, between 60,000 and 70,000 ounces. The company is forecasting attributable gold equivalent production of 125,000 ounces in 2024.
Contributions from the Yamana silver stream was the main driver of the growth in gold equivalent ounces, as Sandstorm received its first silver delivery from the Cerro Moro mine in the second quarter of 2019.
Sandstorm received uplisting approval from the NYSE. The company will transfer the listing of its common shares from the NYSE American to the NYSE. Trading starts Feb. 21.