Analysts Issue Forecasts for Sandstorm Gold FY2024 Earnings

Sandstorm Gold Ltd. (NYSE:SAND) – Research analysts at Scotiabank lowered their FY2024 EPS estimates for Sandstorm Gold in a report released on Wednesday, January 8th. Scotiabank analyst T. Jakusconek now expects that the company will post earnings per share of $0.09 for the year, down from their previous forecast of $0.10. The consensus estimate for Sandstorm Gold’s current full-year earnings is $0.09 per share.

SAND has been the subject of a number of other reports. HC Wainwright boosted their price target on shares of Sandstorm Gold from $11.50 to $12.00 and gave the company a “buy” rating in a research report on Monday, November 11th. StockNews.com cut Sandstorm Gold from a “buy” rating to a “hold” rating in a research report on Thursday, November 14th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Sandstorm Gold presently has an average rating of “Hold” and a consensus target price of $8.50.

Sandstorm Gold Stock Down 0.7 %

Shares of NYSE:SAND opened at $5.65 on Monday. The firm has a 50 day simple moving average of $5.67 and a 200-day simple moving average of $5.73. Sandstorm Gold has a twelve month low of $3.96 and a twelve month high of $6.50. The company has a current ratio of 2.29, a quick ratio of 2.29 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $1.68 billion, a PE ratio of 47.09 and a beta of 1.10.

Sandstorm Gold (NYSE:SAND) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). Sandstorm Gold had a return on equity of 2.44% and a net margin of 20.46%. The business had revenue of $44.70 million for the quarter, compared to analysts’ expectations of $44.70 million.

Sandstorm Gold Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, January 21st will be given a dividend of $0.02 per share. This is a boost from Sandstorm Gold’s previous quarterly dividend of $0.02. The ex-dividend date is Tuesday, January 21st. This represents a $0.08 annualized dividend and a yield of 1.42%. Sandstorm Gold’s payout ratio is presently 41.67%.

Hedge Funds Weigh In On Sandstorm Gold

Institutional investors and hedge funds have recently made changes to their positions in the stock. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in Sandstorm Gold by 2.2% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 3,634,027 shares of the company’s stock worth $19,766,000 after acquiring an additional 78,032 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Sandstorm Gold by 42.2% in the second quarter. Dimensional Fund Advisors LP now owns 3,149,232 shares of the company’s stock worth $17,162,000 after acquiring an additional 935,005 shares during the last quarter. Bank of Montreal Can increased its stake in Sandstorm Gold by 2.7% during the second quarter. Bank of Montreal Can now owns 1,560,657 shares of the company’s stock worth $8,511,000 after acquiring an additional 41,623 shares during the last quarter. Sagil Capital LLP acquired a new stake in Sandstorm Gold during the 2nd quarter worth approximately $8,041,000. Finally, Integrated Wealth Concepts LLC increased its position in shares of Sandstorm Gold by 14.9% in the third quarter. Integrated Wealth Concepts LLC now owns 521,873 shares of the company’s stock worth $3,131,000 after acquiring an additional 67,759 shares in the last quarter. 51.97% of the stock is owned by institutional investors and hedge funds.

Sandstorm Gold Company 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.