Sandstorm Gold (NYSE:SAND) Sets New 12-Month High at $6.32

Sandstorm Gold Ltd. (NYSE:SAND)’s stock price hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $6.32 and last traded at $6.26, with a volume of 1291837 shares changing hands. The stock had previously closed at $6.03.

Analyst Ratings Changes

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

Sandstorm Gold Trading Up 3.2 %

The firm has a 50-day moving average of $5.62 and a two-hundred day moving average of $5.48. The firm has a market capitalization of $1.85 billion, a P/E ratio of 76.63 and a beta of 1.14. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 0.27.

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

Sandstorm Gold Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 26th. Stockholders 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 0.94%. The ex-dividend date was Tuesday, July 16th. Sandstorm Gold’s dividend payout ratio (DPR) is presently 75.01%.

Hedge Funds Weigh In On Sandstorm Gold

Several institutional investors have recently added to or reduced their stakes in SAND. Sprott Inc. boosted its stake in shares of Sandstorm Gold by 6.4% in the 4th quarter. Sprott Inc. now owns 4,048,355 shares of the company’s stock worth $20,365,000 after buying an additional 242,554 shares during the last quarter. Boston Partners bought a new stake in Sandstorm Gold during the first quarter worth $1,902,000. Clearbridge Investments LLC boosted its position in Sandstorm Gold by 48.1% in the first quarter. Clearbridge Investments LLC now owns 384,921 shares of the company’s stock worth $2,021,000 after purchasing an additional 125,096 shares during the last quarter. Helikon Investments Ltd bought a new position in Sandstorm Gold in the 1st quarter valued at $6,771,000. Finally, Sagil Capital LLP purchased a new stake in shares of Sandstorm Gold during the 2nd quarter valued at $8,041,000. 51.97% of the stock is owned by institutional investors and hedge funds.

About Sandstorm Gold

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.