05:11 PM EST, 11/07/2024 (MT Newswires) -- Sandstorm Gold ( SAND ) edged lower in New York after-hours trading after the company on Thursday said its third-quarter profit and revenue rose year-over-year.

The royalty and streaming company said it earned US$5.8 million, up from US$10,000 in the year-prior quarter. Per share amounts were not disclosed.

Revenue rose to US$44.7 million from US$41.3 million a year earlier. About 70% of this revenue came from precious metals, 22% from copper, and 8% from other commodities, the company said.

The company had cash operating margins of $2,215 per gold-equivalent ounce, up from $1,699 per ounce in the same period in 2023. This marks the second consecutive quarter of record operating margins.

Sandstorm said it expects to produce between 70,000 and 75,000 attributable gold-equivalent ounces in 2024, based on its existing streams and royalties, and the performance of gold prices this year. Over the next five years, it forecasts production to reach about 125,000 attributable gold-equivalent ounces, based on its current streams and royalties.

The company's shares were last seen down US$0.03 to US$6.30 after hours. They closed up $0.18 to $8.77 on the Toronto Stock Exchange.