Sailfish Royalty (FISH) AI Stock Analysis

• Market Cap: $168.68M
• Dividend Yield: 2.84%
• Average Volume (3M): 22.80K
• Price to Earnings (P/E): 405.1
• Beta (1Y): 0.42
• Revenue Growth: 56.49%
• EPS Growth: N/A
• Country: CA
• Employees: N/A
• Sector: Basic Materials
• Sector Strength: 68
• Industry: Gold
• EPS (TTM): N/A
• Shares Outstanding: 70,576,460
• 10 Day Avg. Volume: 31,729
• 30 Day Avg. Volume: 22,802
• PEG Ratio: 0.34
• Price to Book (P/B): 1.42
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -164.08
• Enterprise Value/Market Cap: 0.34
• Enterprise Value/Revenue: 5.58
• Enterprise Value/Gross Profit: 30.45
• Enterprise Value/Ebitda: 31.60
• 1Y Price Target: $2.50
• Price Target Upside: 4.21% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1

• Rating: 56 Neutral
• 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 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 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

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

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

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 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement		Total Revenue
2.84M	2.33M	2.65M	1.48M	94.66K
	Gross Profit
1.87M	1.39M	1.38M	780.98K	31.11K
	EBIT
-168.91K	-1.97M	-1.60M	3.15M	-2.99M
	EBITDA
2.00M	-403.14K	-591.14K	3.73M	-2.78M
	Net Income Common Stockholders
550.03K	-1.11M	-1.21M	3.27M	-4.59M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
2.15M	2.55M	1.61M	3.68M	1.56M
	Total Assets
39.09M	42.79M	42.47M	48.45M	51.02M
	Total Debt
4.00M	3.97M	16.60K	46.28K	3.14M
	Net Debt
1.85M	1.41M	-1.59M	-3.63M	1.58M
	Total Liabilities
5.32M	5.37M	1.19M	1.36M	3.44M
	Stockholders Equity
33.77M	37.42M	41.28M	47.08M	47.58M
Cash Flow		Free 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
4.27M	1.67M	3.68M	10.84M	706.84K
	Financing Cash Flow
-4.61M	414.54K	-5.39M	-6.97M	2.41M

Sailfish Royalty Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 2.40
• 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 2.4 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

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
FISH	56 Neutral	$168.68M	405.08	2.86%	2.84%	56.49%	―
Sector *	51 Neutral	$2.04B	-1.15	-21.24%	3.95%	2.91%	-30.44%
TRX		$93.92M	56.42	-3.87%	―	―	―
STLR	51 Neutral	C$110.31M	―	-23.25%	―	―	26.82%
MAE	48 Neutral	C$117.54M	―	-15.70%	―	―	-118.75%
TUD	39 Underperform	C$138.14M	―	-5.21%	―	―	36.41%
NCAU	38 Underperform	C$177.57M	―	-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.