Moors & Cabot Inc. Acquires 17,800 Shares of Sandstorm Gold Ltd. (NYSE:SAND)

Moors & Cabot Inc. increased its stake in Sandstorm Gold Ltd. (NYSE:SAND) by 8.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 216,950 shares of the company’s stock after purchasing an additional 17,800 shares during the period. Moors & Cabot Inc. owned approximately 0.07% of Sandstorm Gold worth $1,180,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Sprott Inc. lifted its stake in Sandstorm Gold by 6.4% during the fourth quarter. Sprott Inc. now owns 4,048,355 shares of the company’s stock worth $20,365,000 after purchasing an additional 242,554 shares during the last quarter. Boston Partners purchased a new stake in Sandstorm Gold in the first quarter worth approximately $1,902,000. Clearbridge Investments LLC grew its position in Sandstorm Gold by 48.1% during the first quarter. Clearbridge Investments LLC now owns 384,921 shares of the company’s stock valued at $2,021,000 after acquiring an additional 125,096 shares during the last quarter. Helikon Investments Ltd purchased a new position in shares of Sandstorm Gold during the first quarter worth approximately $6,771,000. Finally, Simplicity Wealth LLC bought a new stake in shares of Sandstorm Gold in the 1st quarter worth approximately $158,000. 51.97% of the stock is owned by hedge funds and other institutional investors.

Sandstorm Gold Trading Down 2.4 %

NYSE SAND opened at $6.01 on Thursday. The stock has a market cap of $1.79 billion, a P/E ratio of 75.06 and a beta of 1.14. Sandstorm Gold Ltd. has a fifty-two week low of $3.96 and a fifty-two week high of $6.29. The stock has a 50 day simple moving average of $5.62 and a two-hundred day simple moving average of $5.48. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.99 and a current ratio of 1.99.

Sandstorm Gold (NYSE:SAND) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.03 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.01. Sandstorm Gold had a net margin of 17.55% and a return on equity of 2.06%. The business had revenue of $41.37 million for the quarter, compared to analysts’ expectations of $40.50 million. During the same quarter in the previous year, the business posted $0.01 earnings per share. On average, analysts forecast that Sandstorm Gold Ltd. will post 0.09 earnings per share for the current year.

Sandstorm Gold Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 26th. Investors of record on Tuesday, July 16th were given a dividend of $0.0146 per share. This represents a $0.06 annualized dividend and a dividend yield of 0.97%. The ex-dividend date was Tuesday, July 16th. Sandstorm Gold’s dividend payout ratio is currently 62.50%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on SAND shares. CIBC lifted their target price on shares of Sandstorm Gold from $9.00 to $9.50 and gave the stock a “neutral” rating in a research report on Wednesday, July 10th. Royal Bank of Canada lowered their target price on Sandstorm Gold from $6.50 to $6.00 and set an “outperform” rating for the company in a research note on Tuesday, September 10th. Scotiabank raised their price target on Sandstorm Gold from $6.25 to $6.50 and gave the stock a “sector perform” rating in a research report on Thursday, May 23rd. StockNews.com upgraded Sandstorm Gold from a “hold” rating to a “buy” rating in a research report on Tuesday. Finally, HC Wainwright raised their target price on shares of Sandstorm Gold from $11.00 to $11.50 and gave the stock a “buy” rating in a report on Monday, August 5th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $8.38.

Sandstorm Gold Profile

Sandstorm Gold Ltd. operates as a gold royalty company. The company focuses on acquiring royalties and gold and other metals purchase agreements from companies that have advanced stage operating mines. It offers upfront payments for companies to acquire a stream and receives the right to purchase a percentage of a mine's production for the life of the mine.