Gold Streaming & Royalty, Industry - Big Players February 2024 Edition
Introduction
The gold streaming and royalty industry is a lucrative sector that involves the acquisition and management of precious metal streams, royalties, and similar production-based interests. Companies in this industry are responsible for generating revenue from mining operations by providing a share of the profits to the owners of the streams or royalties. This industry has experienced significant growth in recent years, driven by the rising demand for precious metals and the increasing number of mining projects around the world.
Royal Gold, Inc.
Royal Gold, Inc. (NASDAQ: RGLD) is a precious metals stream and royalty company that operates in the gold streaming and royalty industry. The company is publicly traded on the Nasdaq Global Select Market under the symbol “RGLD.” As of December 31, 2023, Royal Gold owned interests on 178 properties on five continents, including interests on 37 producing mines and 22 development stage projects.
In February 2024, Royal Gold will present at the BMO 33rd Global Metals, Mining and Critical Minerals Conference in Hollywood, Florida. Bill Heissenbuttel, President and Chief Executive Officer, will address conference participants on Tuesday, February 27, at 9:00 a.m. EST (7:00 a.m. MST) in a presentation lasting 30 minutes. The presentation will be webcast live and will be available for on-demand viewing for three months on the Investors/Events and Presentations page on the company's website.
Sandstorm Gold Ltd.
Sandstorm Gold Ltd. is a gold streaming and royalty company that operates in the gold streaming and royalty industry. The company had record attributable gold equivalent ounces of 97,245 ounces, record revenue of $179.6 million, record total sales, royalties, and income from other interests of $191.4 million, record cash flows from operating activities, excluding changes in non-cash working capital of $151.1 million, net income of $42.7 million, and average cash cost per attributable gold equivalent ounce of $223 resulting in cash operating margins of $1,706 per ounce.
Sandstorm is undergoing a process to monetize between $40–$100 million of non-core assets by the end of 2024, and anticipates that consideration from future monetization efforts will consist entirely of cash. The company's financial position continues to strengthen, with current available capital totaling over $200 million. Sandstorm's attributable gold equivalent ounces for 2024 are forecasted to be between 75,000 and 90,000 ounces, and its production forecast is expected to reach approximately 125,000 attributable gold equivalent ounces within the next five years.
Osisko Gold Royalties Ltd
Osisko Gold Royalties Ltd (TSE:OR) is a gold streaming and royalty company that operates in the gold streaming and royalty industry. Investment analysts at Cormark issued their Q4 2023 earnings per share (EPS) estimates for Osisko Gold Royalties in a research note issued on Tuesday, February 13th. Cormark analyst N. Dion expects that the company will earn $0.15 per share for the quarter. The consensus estimate for Osisko Gold Royalties' current full-year earnings is $0.62 per share.
Osisko has been the topic of a number of other research reports. Scotiabank lowered their price objective on Osisko Gold Royalties from C$23.00 to C$22.00 and set a "sector perform" rating on the stock in a report on Friday, December 15th. CIBC raised their target price on Osisko Gold Royalties from C$27.00 to C$28.50 and gave the stock an "outperform" rating in a research report on Wednesday, February 7th. Canaccord Genuity Group dropped their price target on Osisko Gold Royalties from C$25.00 to C$24.50 and set a "buy" rating for the company in a report on Monday, November 20th. BMO Capital Markets raised their price target on Osisko Gold Royalties from C$23.00 to C$24.00 in a report on Wednesday, December 13th. National Bankshares lifted their target price on Osisko Gold Royalties from C$24.00 to C$25.00 and gave the company an "outperform" rating in a research note on Monday, January 15th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, Osisko Gold Royalties presently has a consensus rating of "Moderate Buy" and an average price target of C$25.15.
Conclusion
The gold streaming and royalty industry is a lucrative sector that involves the acquisition and management of precious metal streams, royalties, and similar production-based interests. Companies in this industry are responsible for generating revenue from mining operations by providing a share of the profits to the owners of the streams or royalties. Royal Gold, Inc. and Sandstorm Gold Ltd. are two companies in this industry that have experienced significant growth in recent years, driven by the rising demand for precious metals and the increasing number of mining projects around the world. Osisko Gold Royalties Ltd is another company in this industry that has been the topic of a number of other research reports.
gold streaming and royaltylucrative sectorprecious metal streamsroyaltiesproduction-based interestsrevenue generationmining operationsrise in demandincrease in mining projectsRoyal Gold IncRGLD NASDAQBMO 33rd Global Metals Mining and Critical Minerals ConferenceHollywood FloridaBill Heissenbuttel President and Chief Executive Officerwebcast liveon-demand viewing