Sailfish Royalty (FISH) AI Stock Analysis

• Market Cap: C$171.50M
• Dividend Yield: 2.75%
• Average Volume (3M): 22.92K
• Price to Earnings (P/E): 411.9
• Beta (1Y): 0.42
• Revenue Growth: 56.49%
• EPS Growth: N/A
• Country: CA
• Employees: N/A
• Sector: Basic Materials
• Sector Strength: 65
• Industry: Gold
• EPS (TTM): N/A
• Shares Outstanding: 70,576,460
• 10 Day Avg. Volume: 31,217
• 30 Day Avg. Volume: 22,922
• PEG Ratio: 6.09
• Price to Book (P/B): 2.45
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 2.55K
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: C$2.50
• Price Target Upside: 1.86% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1

• Rating: 56 Neutral
• Price Target: C$2.50 ▲(2.04%Upside)

The overall score is influenced most by the positive corporate events, indicating potential for future growth, and strong technical trends. However, the stock's high valuation and inconsistent financial performance pose significant risks.

Positive Factors

Dividend Yield

Sailfish Royalty continues to offer the leading dividend yield amongst its peers.

Revenue Growth

Despite missing expectations, Sailfish Royalty posted 76% revenue growth and breakeven EBITDA for Q3.

Share Buybacks

FISH has repurchased 1.6M shares over the last nine months, decreasing its share count by 1%.

Negative Factors

Financial Performance

Sailfish Royalty reported Q3 financial results that missed estimates due to decreased production from Mako Mining.

Market Valuation

The company is considered cheap on a P/NAV basis, trading at 0.5x P/NAV compared to small/mid-cap peers at 0.7x and large-cap peers at 1.4x, making it an attractive takeout candidate for major firms.

Production Issues

Production is expected to return to normal levels in Q4 according to Mako management.

Sailfish Royalty Business Overview & Revenue Model

Company Description

Sailfish Royalty Corp. operates as a precious metals royalty and streaming company in the Americas. The company also explores for gold and silver deposits. It holds a 3% net smelter return (NSR) on the San Albino gold project and a 2% NSR on the rest of the area surrounding San Albino in northern Nicaragua, as well as an up to 3% NSR on the Spring Valley gold project in Pershing County, Nevada. The company also holds a 1.5% NSR on El Compas, located in Zacatecas, Mexico; and a 1% NSR on La Cigarra, located in Chihuahua, Mexico, as well as holds a 100% interest in the Gavilanes Property located in Durango, Mexico. Sailfish Royalty Corp. was incorporated in 2014 and is headquartered in Road Town, the British Virgin Islands.

How the Company Makes Money

Sailfish Royalty makes money by acquiring royalty and streaming agreements on mining projects, which entitle it to a percentage of the revenue or production from those projects. The company earns revenue through these agreements by receiving regular payments or metal deliveries based on the output of the mines. Additionally, Sailfish Royalty may engage in strategic partnerships or acquisitions to expand its portfolio, thereby increasing its revenue potential. These activities are crucial for sustaining and enhancing the company's earnings over time.

Sailfish Royalty Financial Statement Overview

Summary

Sailfish Royalty shows a mixed financial performance. Positive net profit margin and a strong balance sheet with low leverage are offset by inconsistent revenue growth and cash flow challenges.

Income Statement

Sailfish Royalty shows mixed results in its income statement. The company achieved a positive net profit margin of 48.0% TTM, indicating profitability, but experienced inconsistent revenue growth, with a 21.2% decline from 2022 to 2023. The gross profit margin decreased slightly from 2022 to 2023 but recovered to 62.5% TTM. However, EBIT and EBITDA margins were negative in 2023, impacting overall profitability.

Balance Sheet

The balance sheet of Sailfish Royalty is relatively strong. The debt-to-equity ratio remains low at 0.12 TTM, indicating low leverage. Although the equity ratio decreased slightly, it remains high at 86.9% TTM, reflecting financial stability. Return on equity improved significantly to 3.9% TTM, showcasing better returns on shareholders' investments.

Cash Flow

Cash flow statements reveal potential challenges. Free cash flow improved slightly but remains low at $33,758 TTM. The operating cash flow to net income ratio is weak, showing limited cash conversion. Despite a positive trend in free cash flow growth, the free cash flow to net income ratio remains low, indicating cash flow constraints.

Breakdown
TTM	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019
Income Statement		Total Revenue
2.83M	2.33M	2.65M	1.48M	94.66K	124.23K
	Gross Profit
1.77M	1.39M	1.38M	780.98K	31.11K	-26.84K
	EBIT
-481.30K	-1.97M	1.60M	3.15M	-2.99M	-3.07M
	EBITDA
730.61K	-403.14K	-591.14K	3.73M	-2.78M	-2.93M
	Net Income Common Stockholders
1.36M	-1.11M	-1.21M	3.27M	-4.59M	-3.43M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
535.17K	2.55M	1.61M	3.68M	1.56M	274.39K
	Total Assets
13.74M	42.79M	42.47M	48.45M	51.02M	50.30M
	Total Debt
0.00	3.97M	16.60K	46.28K	3.14M	11.30M
	Net Debt
-535.17K	1.41M	-1.59M	-3.63M	1.58M	11.02M
	Total Liabilities
221.77K	5.37M	1.19M	1.36M	3.44M	11.69M
	Stockholders Equity
13.52M	37.42M	41.28M	47.08M	47.58M	38.61M
Cash Flow		Free Cash Flow
33.76K	-1.16M	-356.11K	-1.76M	-2.12M	-1.65M
	Operating Cash Flow
33.76K	-1.14M	-356.11K	-1.76M	-1.83M	-1.65M
	Investing Cash Flow
5.12M	1.67M	3.68M	10.84M	706.84K	4.39M
	Financing Cash Flow
-4.54M	414.54K	-5.39M	-6.97M	2.41M	-2.56M

Sailfish Royalty Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 2.45
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:FISH, the sentiment is Positive. The current price of 2.45 is above the 20-day moving average (MA) of 2.16, above the 50-day MA of 1.94, and above the 200-day MA of 1.54, indicating a bullish trend. The MACD of 0.15 indicates Negative momentum. The RSI at 69.20 is Neutral, neither overbought nor oversold. The STOCH value of 71.08 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:FISH.

Sailfish Royalty Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
FISH	56 Neutral	C$171.50M	411.86	2.86%	2.75%	56.49%	―
STLR	51 Neutral	C$110.31M	―	-23.25%	―	―	26.82%
Sector *	51 Neutral	$2.04B	-1.15	-21.37%	3.64%	2.88%	-30.57%
MAE	48 Neutral	C$117.54M	―	-15.70%	―	―	-118.75%
TUD	39 Underperform	C$138.14M	―	-5.21%	―	―	36.41%
NCAU	38 Underperform	C$175.04M	―	-9.41%	―	―	-64.81%

Sailfish Royalty Corporate Events

Sailfish Royalty Corp. Reports Strong Q1 2025 Results Despite Net Loss

Sailfish Royalty Corp. reported its Q1 2025 financial results, highlighting a significant increase in royalty revenue and gross profit compared to the previous year, despite a net loss. The company repurchased and cancelled a substantial number of common shares and declared a quarterly dividend. Additionally, Sailfish exercised its option to purchase remaining silver production from Mako Mining Corp.’s San Albino mine, which may enhance its future revenue streams and strengthen its position in the precious metals market.

The most recent analyst rating on (TSE:FISH) stock is a Buy with a C$2.00 price target. To see the full list of analyst forecasts on Sailfish Royalty stock, see the TSE:FISH Stock Forecast page.

Sailfish Royalty Corp. Reports Promising Drill Results at El Golfo

Sailfish Royalty Corp. has announced promising initial results from Mako Mining Corp.’s 2025 reverse circulation drill program at the El Golfo area, where Sailfish holds a 2% net smelter return royalty. The drilling revealed significant gold and silver mineralization, with a notable intersection of 39.15 g/t gold and 27.8 g/t silver over 8.0 meters. These findings, along with other ongoing exploration efforts, suggest potential for resource expansion and extended cash flow duration, benefiting Sailfish’s royalty interests. Additionally, Sailfish has received approval from the TSX Venture Exchange to settle outstanding interest through the issuance of common shares, further strengthening its financial position.

The most recent analyst rating on (TSE:FISH) stock is a Buy with a C$2.00 price target. To see the full list of analyst forecasts on Sailfish Royalty stock, see the TSE:FISH Stock Forecast page.

Sailfish Royalty Corp. Poised for Growth with Spring Valley Financing Endorsement

Sailfish Royalty Corp. announced that Solidus Resources, LLC received a Letter of Interest from the Export-Import Bank of the United States for potential financing of up to US$835 million for the Spring Valley Gold Project in Nevada. This endorsement is significant as it aligns with the U.S. government’s initiatives and supports the Bureau of Land Management’s timeline for project permits, with expected gold production by 2028. Sailfish, holding significant royalty claims on the project, anticipates a substantial increase in cash flow, enhancing shareholder value.

The most recent analyst rating on (TSE:FISH) stock is a Buy with a C$2.00 price target. To see the full list of analyst forecasts on Sailfish Royalty stock, see the TSE:FISH Stock Forecast page.

Sailfish Royalty Announces Q2 2025 Dividend and Debenture Conversion

Sailfish Royalty Corp. has announced its second quarterly cash dividend for 2025, amounting to US$0.0125 per common share, payable on July 15, 2025. Additionally, the company has opted to convert outstanding convertible debentures into common shares, issuing over 4 million shares to debenture holders and settling accrued interest through additional share issuance. This move is part of a related party transaction, exempt from certain regulatory requirements, and reflects Sailfish’s strategic financial management and capital allocation decisions.

The most recent analyst rating on (TSE:FISH) stock is a Buy with a C$2.00 price target. To see the full list of analyst forecasts on Sailfish Royalty stock, see the TSE:FISH Stock Forecast page.

Sailfish Royalty Enhances Silver Portfolio and Advances Spring Valley Project

Sailfish Royalty Corp. has exercised its option to purchase all remaining silver production from Mako Mining Corp’s San Albino mine for $1 million, enhancing its silver exposure. Additionally, the Bureau of Land Management is expected to release a Final Environmental Impact Statement for the Spring Valley Mine Project by July 2025, with a Record of Decision anticipated by August 2025, potentially allowing construction to begin in the third quarter. These developments are expected to positively impact Sailfish’s operations and shareholder value.

Sailfish Royalty Corp. Reports Improved 2024 Financial Results and Announces Dividend Plan

Sailfish Royalty Corp. reported its financial results for 2024, showing a significant improvement with a net income of $550,033 compared to a net loss in 2023. The company saw increased revenues and gross profits, driven by higher royalty revenues and silver sales. Despite a net loss in the fourth quarter, Sailfish declared quarterly dividends throughout 2024 and initiated a dividend reinvestment plan in 2025, reflecting a positive outlook for stakeholders.