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Sailfish Royalty
(FISH)
Select Model
Select Model
Rating:74Outperform
Price Target:
C$9.00
▲(56.79% Upside)
Action:Upgraded
Date:09/19/26
The score is driven by strong technical uptrend and very attractive valuation (low P/E with a dividend). These positives are tempered by the biggest risk: weak and inconsistent cash generation (negative TTM operating and free cash flow) despite strong reported profitability, which lowers confidence in earnings quality.
Positive Factors
Asset-light royalty model
The royalty and streaming structure can provide exposure to precious-metals production without the operating and sustaining capital burden of mine ownership. This asset-light model may support attractive margins and allow Sailfish to build a diversified portfolio through financing and investment activity.
Negative Factors
Unreliable cash conversion
Negative operating and free cash flow show that reported profitability is not currently converting consistently into cash. If this pattern persists, Sailfish may have less internally generated funding for acquisitions, distributions, or portfolio support, weakening the durability of its earnings profile.
Read all positive and negative factors
Positive Factors
Negative Factors
Asset-light royalty model
The royalty and streaming structure can provide exposure to precious-metals production without the operating and sustaining capital burden of mine ownership. This asset-light model may support attractive margins and allow Sailfish to build a diversified portfolio through financing and investment activity.
Read all positive factors
Sailfish Royalty (FISH) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$530.00M
Dividend Yield2.61%
Average Volume (3M)11.37K
Price to Earnings (P/E)2.7
Beta (1Y)0.80
Revenue Growth87.76%
EPS GrowthN/A
CountryCA
EmployeesN/A
SectorBasic Materials
Sector Strength58
IndustryGold
Share Statistics
EPS (TTM)1.79
Shares Outstanding78,869,750
10 Day Avg. Volume8,564
30 Day Avg. Volume11,368
Financial Highlights & Ratios
PEG Ratio3.28
Price to Book (P/B)4.63
Price to Sales (P/S)53.08
P/FCF Ratio118.87
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)1.84
Revenue Forecast (FY)C$6.00M
Sailfish Royalty Business Overview & Revenue Model
Company Description
Sailfish Royalty Corp. is a precious metals royalty and streaming company primarily active in the Americas, which also undertakes exploration for gold and silver deposits. Its asset portfolio includes a 3% net smelter return (NSR) on the San Albin...
How the Company Makes Money
Sailfish Royalty makes money by acquiring mineral royalty and streaming interests that generate cash flow when the underlying mines produce and sell metals. Key revenue/cash-flow sources typically include: (1) Royalty revenue: Sailfish receives a ...
Sailfish Royalty Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
60
Neutral
Cash Flow
33
Negative
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 5.22M | 3.38M | 2.84M | 2.33M | 2.65M | 1.48M |
| Gross Profit | 4.90M | 3.14M | 1.87M | 1.39M | 1.38M | 780.98K |
| EBITDA | 139.68M | 2.05M | 2.00M | -394.92K | -593.19K | 3.72M |
| Net Income | 139.22M | 1.71M | 550.03K | -1.11M | -1.21M | 3.27M |
Balance Sheet | ||||||
| Total Assets | 177.38M | 81.07M | 39.09M | 42.79M | 42.47M | 48.45M |
| Cash, Cash Equivalents and Short-Term Investments | 130.58M | 3.21M | 2.15M | 2.55M | 1.61M | 3.68M |
| Total Debt | 0.00 | 40.46M | 4.00M | 3.97M | 16.60K | 46.28K |
| Total Liabilities | 7.30M | 42.34M | 5.32M | 5.37M | 1.19M | 1.36M |
| Stockholders Equity | 170.08M | 38.73M | 33.77M | 37.42M | 41.28M | 47.08M |
Cash Flow | ||||||
| Free Cash Flow | -867.65K | 1.51M | -54.57K | -1.16M | -356.11K | -1.76M |
| Operating Cash Flow | -126.58K | 1.51M | -54.57K | -1.14M | -356.11K | -1.76M |
| Investing Cash Flow | 108.54M | -40.58M | 4.27M | 1.67M | 3.68M | 10.84M |
| Financing Cash Flow | 1.06M | 38.44M | -4.61M | 414.54K | -5.39M | -6.97M |
Sailfish Royalty Technical Analysis
Neutral
5.74
Price Trends
6.86
Negative
5.82
Positive
4.78
Positive
Market Momentum
0.05
Positive
36.91
Neutral
3.62
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:FISH, the sentiment is Neutral. The current price of 5.74 is below the 20-day moving average (MA) of 7.75, below the 50-day MA of 6.86, and above the 200-day MA of 4.78, indicating a neutral trend. The MACD of 0.05 indicates Positive momentum. The RSI at 36.91 is Neutral, neither overbought nor oversold. The STOCH value of 3.62 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for TSE:FISH.
Sailfish Royalty Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | C$530.00M | 2.67 | 197.04% | 2.61% | 87.76% | ― | |
70 Outperform | C$476.07M | -15.81 | -26.91% | ― | 139.67% | -6769.23% | |
69 Neutral | C$236.26M | 18.05 | 29.83% | 200.50% | 58.33% | ― | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
45 Neutral | C$228.00M | -6.92 | -49.51% | ― | ― | -157.79% |
* Basic Materials Sector Average
TSE:FISH
Sailfish Royalty
6.72
4.17
163.43%
TSE:TRX
TRX Gold Corporation
1.45
0.50
52.63%
TSE:OGN
Orogen Royalties
3.98
1.89
90.43%
TSE:RVG
Revival Gold
0.71
0.05
7.58%
Sailfish Royalty Corporate Events
Business Operations and StrategyDividends
Sailfish Royalty Declares Q3 2026 Dividend, Keeps Future Payouts Under Review
Neutral
Sep 3, 2026
Sailfish Royalty Corp. has declared its third quarterly cash dividend for 2026 of US$0.0375 per common share, payable on October 15 to shareholders of record at the end of September, underscoring its strategy of returning capital to investors. The...
Business Operations and StrategyStock BuybackDividendsFinancial DisclosuresM&A Transactions
Sailfish Royalty Posts Record Q2 2026 on Terraco Sale and Strong Streaming Revenue
Positive
Aug 26, 2026
Sailfish Royalty reported record second-quarter 2026 results, driven primarily by the $168 million after-tax cash proceeds from the sale of its Terraco Gold subsidiary to OR Royalties Inc. and stronger royalty and streaming performance. Revenue ne...
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.