Trump to visit Fed on Thursday amid Powell feud, renovation probe
VANCOUVER - Sandstorm Gold Ltd. (NYSE: SAND) (TSX: SSL), a precious metals royalty company with a market capitalization of $1.66 billion, announced today the results of its Annual General and Special Meeting of Shareholders. The meeting saw a 70% turnout of the issued common shares, and all resolutions on the agenda were passed, including the re-election of the full slate of director nominees. According to InvestingPro data, the company trades at attractive valuation multiples, suggesting potential value opportunity for investors.
The directors re-elected are Nolan Watson, David Awram, David E. De Witt, Andrew T. Swarthout, John P.A. Budreski, Mary L. Little, Vera Kobalia, and Elif Levesque. Nolan Watson received the highest approval with 99.26% of the votes cast in his favor, while Mary L. Little had the lowest at 79.53%. The detailed voting results will be available on the SEDAR+ and EDGAR websites. The company maintains strong financial health with a current ratio of 1.84, indicating solid liquidity management.
Sandstorm Gold Royalties, headquartered in Vancouver, British Columbia, operates by providing upfront financing to mining companies in exchange for a percentage of mine production. The company currently holds a portfolio of approximately 230 royalties, with 40 of the underlying mines in production. Sandstorm aims to continue growing its low-cost production profile through the acquisition of additional gold royalties, supported by impressive gross profit margins of 44%. For deeper insights into Sandstorm’s financial metrics and growth potential, investors can access comprehensive analysis through InvestingPro’s detailed research reports.
The company’s approach allows it to benefit from the production of precious metals without bearing the direct cost of mining operations. This news may interest investors as it indicates stability and confidence in the company’s leadership, potentially impacting Sandstorm’s market performance. Currently trading at $4.44, InvestingPro analysis suggests the stock is trading below its Fair Value, presenting a potential opportunity for value investors.
The information for this report is based on a press release statement from Sandstorm Gold Ltd.
In other recent news, Sasol Limited has seen its outlook downgraded from stable to negative by Moody’s Ratings, although its Ba1 long-term corporate family rating has been affirmed. This change is attributed to Sasol’s deteriorating operating performance, primarily due to weak demand in the chemicals market and low oil prices. These factors have led to increased leverage and a decline in the company’s EBITDA margin. Additionally, Sasol’s CEO, S Baloyi, and a prescribed officer, V Bester, executed transactions involving the company’s shares as part of a long-term incentive plan. These transactions were reported to the U.S. Securities and Exchange Commission. Moody’s noted that Sasol’s liquidity remains strong, with substantial cash reserves and bank facilities. However, the company faces challenges related to the economic environment in South Africa and ongoing carbon transition risks. Sasol’s commitment to reducing capital investments and not paying dividends until net debt decreases is part of its strategy to strengthen its financial position.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.