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Sailfish Royalty Corp (TSE:FISH)
:FISH

Sailfish Royalty (FISH) AI Stock Analysis

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Sailfish Royalty

(OTC:FISH)

Rating:56Neutral
Price Target:
C$2.50
▲(4.17%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 (FISH) vs. iShares MSCI Canada ETF (EWC)

Sailfish Royalty Business Overview & Revenue Model

Company DescriptionSailfish 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 MoneySailfish 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 mixed financial performance with improved revenue and gross profit margin, but struggles with consistent profitability and cash flow generation. The balance sheet maintains moderate health with low debt levels.
Income Statement
42
Neutral
Sailfish Royalty has shown inconsistent revenue growth with substantial fluctuations in profitability. The gross profit margin has improved from 59.6% in 2023 to 65.7% in 2024, indicating better cost management. However, the net profit margin remains volatile, moving from -47.4% in 2023 to 19.4% in 2024. Despite an increase in total revenue by 21.7% from 2023 to 2024, the company struggles with consistent profitability as reflected in negative EBIT margins.
Balance Sheet
58
Neutral
The company's balance sheet reflects moderate financial health. The debt-to-equity ratio is low at 0.12, indicating modest leverage. The equity ratio is strong at 86.4%, suggesting a solid equity position. However, the return on equity is volatile due to fluctuating net income, with a positive ROE of 1.6% in 2024, which is an improvement from previous years.
Cash Flow
36
Negative
Cash flow performance is weak, with the company generating negative operating cash flow of -$54,567 in 2024, though improved from -$1,138,588 in 2023. Free cash flow remains negative, reflecting ongoing cash flow challenges. The operating cash flow to net income ratio remains unfavorable, underscoring difficulties in converting income into cash.
Breakdown
Dec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income StatementTotal Revenue
2.84M2.33M2.65M1.48M94.66K
Gross Profit
1.87M1.39M1.38M780.98K31.11K
EBIT
-168.91K-1.97M-1.60M3.15M-2.99M
EBITDA
2.00M-403.14K-591.14K3.73M-2.78M
Net Income Common Stockholders
550.03K-1.11M-1.21M3.27M-4.59M
Balance SheetCash, Cash Equivalents and Short-Term Investments
2.15M2.55M1.61M3.68M1.56M
Total Assets
39.09M42.79M42.47M48.45M51.02M
Total Debt
4.00M3.97M16.60K46.28K3.14M
Net Debt
1.85M1.41M-1.59M-3.63M1.58M
Total Liabilities
5.32M5.37M1.19M1.36M3.44M
Stockholders Equity
33.77M37.42M41.28M47.08M47.58M
Cash FlowFree Cash Flow
-54.57K-1.16M-356.11K-1.76M-2.12M
Operating Cash Flow
-54.57K-1.14M-356.11K-1.76M-1.83M
Investing Cash Flow
4.27M1.67M3.68M10.84M706.84K
Financing Cash Flow
-4.61M414.54K-5.39M-6.97M2.41M

Sailfish Royalty Technical Analysis

Technical Analysis Sentiment
Positive
Last Price2.40
Price Trends
50DMA
1.97
Positive
100DMA
1.76
Positive
200DMA
1.56
Positive
Market Momentum
MACD
0.14
Negative
RSI
64.75
Neutral
STOCH
57.01
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 2.4 is above the 20-day moving average (MA) of 2.20, above the 50-day MA of 1.97, and above the 200-day MA of 1.56, indicating a bullish trend. The MACD of 0.14 indicates Negative momentum. The RSI at 64.75 is Neutral, neither overbought nor oversold. The STOCH value of 57.01 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

Overall Rating
UnderperformOutperform
Sector (51)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
56
Neutral
$168.68M405.082.86%2.84%56.49%
51
Neutral
$2.04B-1.15-21.24%3.95%2.91%-30.44%
TRTRX
$93.92M56.42-3.87%
51
Neutral
C$110.31M-23.25%26.82%
TSMAE
48
Neutral
C$117.54M-15.70%-118.75%
TSTUD
39
Underperform
C$138.14M-5.21%36.41%
38
Underperform
C$177.57M-9.41%-64.81%
* Basic Materials Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
TSE:FISH
Sailfish Royalty
2.40
1.29
115.83%
TRX
Tanzanian Royalty Exploration
0.34
-0.07
-17.07%
TSE:MAE
Maritime Resources
0.10
0.04
66.67%
TSE:STLR
Moneta Gold
0.88
-0.33
-27.27%
TSE:NCAU
Newcore Gold
0.68
0.34
100.00%
TSE:TUD
Tudor Gold
0.55
-0.16
-22.54%

Sailfish Royalty Corporate Events

Stock BuybackDividendsBusiness Operations and StrategyFinancial Disclosures
Sailfish Royalty Corp. Reports Strong Q1 2025 Results Despite Net Loss
Positive
May 29, 2025

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.

Business Operations and StrategyFinancial Disclosures
Sailfish Royalty Corp. Reports Promising Drill Results at El Golfo
Positive
May 27, 2025

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.

Private Placements and FinancingBusiness Operations and Strategy
Sailfish Royalty Corp. Poised for Growth with Spring Valley Financing Endorsement
Positive
May 14, 2025

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.

DividendsBusiness Operations and Strategy
Sailfish Royalty Announces Q2 2025 Dividend and Debenture Conversion
Neutral
May 13, 2025

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.

Business Operations and Strategy
Sailfish Royalty Enhances Silver Portfolio and Advances Spring Valley Project
Positive
Apr 29, 2025

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.

DividendsFinancial Disclosures
Sailfish Royalty Corp. Reports Improved 2024 Financial Results and Announces Dividend Plan
Positive
Apr 25, 2025

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.

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.