SAND vs. BTG

Last updated Apr 1, 2026

Compare and contrast key facts about Sandstorm Gold Ltd. (SAND) and B2Gold Corp. (BTG).

Performance

SAND vs. BTG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Sandstorm Gold Ltd. (SAND) and B2Gold Corp. (BTG). The values are adjusted to include any dividend payments, if applicable.

SAND vs. BTG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SAND Sandstorm Gold Ltd.	0.00%	118.72%	12.15%	-3.32%	-14.29%	-13.53%	-3.76%	61.61%	-7.62%	27.95%
BTG B2Gold Corp.	0.83%	88.95%	-18.07%	-7.22%	-5.13%	-26.97%	42.35%	37.72%	-5.81%	30.80%

Fundamentals

Market Cap SAND : $3.64B BTG : $7.32B
EPS SAND : $0.11 BTG : $0.27
PE Ratio SAND : 105.77 BTG : 17.09
PEG Ratio SAND : 4.56 BTG : 0.02
PS Ratio SAND : 18.81 BTG : 2.25
PB Ratio SAND : 2.55 BTG : 2.04
Total Revenue (TTM) SAND : $193.59M BTG : $3.07B
Gross Profit (TTM) SAND : $114.43M BTG : $1.53B
EBITDA (TTM) SAND : $144.88M BTG : $1.60B

Returns By Period

SAND

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

BTG

• 1D: 7.35%
• 1M: -26.18%
• YTD: 0.83%
• 6M: -7.73%
• 1Y: 61.92%
• 3Y*: 9.06%
• 5Y*: 4.36%
• 10Y*: 12.95%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Return for Risk

SAND vs. BTG — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BTG

BTG Risk / Return Rank: 74
BTG Sharpe Ratio Rank: 78
BTG Sortino Ratio Rank: 72
BTG Omega Ratio Rank: 71
BTG Calmar Ratio Rank: 74
BTG Martin Ratio Rank: 73

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

SAND vs. BTG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Sandstorm Gold Ltd. (SAND) and B2Gold Corp. (BTG). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	SAND	BTG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.15	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.10	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.27	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	0.14	—

Correlation

The correlation between SAND and BTG is 0.60, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

SAND vs. BTG - Dividend Comparison

SAND's dividend yield for the trailing twelve months is around 0.36%, less than BTG's 1.77% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019
SAND Sandstorm Gold Ltd.	0.36%	0.47%	1.06%	1.19%	1.17%	0.00%	0.00%	0.00%
BTG B2Gold Corp.	1.77%	1.77%	6.56%	5.06%	4.48%	4.07%	1.96%	0.25%

Drawdowns

Drawdown Indicators

	SAND	BTG	Difference
Max Drawdown Largest peak-to-trough decline	—	-85.97%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-36.63%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-50.61%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-63.35%	—
Current Drawdown Current decline from peak	—	-26.77%	—
Average Drawdown Average peak-to-trough decline	—	-38.52%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	15.36%	—

Volatility

Volatility by Period

	SAND	BTG	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	19.56%	—
Volatility (6M) Calculated over the trailing 6-month period	—	45.03%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	54.19%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	43.95%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	48.61%	—

Financials

SAND vs. BTG - Profitability Comparison

The chart below illustrates the profitability comparison between Sandstorm Gold Ltd. and B2Gold Corp. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

SAND - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Sandstorm Gold Ltd. reported a gross profit of 33.10M and revenue of 51.42M. Therefore, the gross margin over that period was 64.4%.

BTG - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, B2Gold Corp. reported a gross profit of 559.72M and revenue of 1.07B. Therefore, the gross margin over that period was 52.3%.

SAND - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Sandstorm Gold Ltd. reported an operating income of 26.02M and revenue of 51.42M, resulting in an operating margin of 50.6%.

BTG - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, B2Gold Corp. reported an operating income of 529.36M and revenue of 1.07B, resulting in an operating margin of 49.5%.

SAND - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Sandstorm Gold Ltd. reported a net income of 15.46M and revenue of 51.42M, resulting in a net margin of 30.1%.

BTG - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, B2Gold Corp. reported a net income of 173.21M and revenue of 1.07B, resulting in a net margin of 16.2%.