Sandstorm Gold (NYSE:SAND) Sets New 1-Year High – Here’s What Happened

Sandstorm Gold Ltd. (NYSE:SAND) reached a new 52-week high on Tuesday . The stock traded as high as $9.32 and last traded at $9.29, with a volume of 5658267 shares changing hands. The stock had previously closed at $8.84.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on SAND shares. Raymond James set a $9.75 target price on Sandstorm Gold and gave the company an “outperform” rating in a research report on Wednesday, May 7th. Royal Bank of Canada raised their target price on Sandstorm Gold from $6.50 to $7.00 and gave the company an “outperform” rating in a research report on Friday, April 4th. HC Wainwright raised their target price on Sandstorm Gold from $11.50 to $11.75 and gave the company a “buy” rating in a research report on Thursday, May 8th. Scotiabank raised their target price on Sandstorm Gold from $7.25 to $8.25 and gave the company a “sector perform” rating in a research report on Monday, April 14th. Finally, Wall Street Zen upgraded Sandstorm Gold from a “hold” rating to a “buy” rating in a research report on Wednesday, May 21st. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $9.25.

Sandstorm Gold Price Performance

The company has a quick ratio of 2.29, a current ratio of 1.95 and a debt-to-equity ratio of 0.24. The company has a market cap of $2.72 billion, a PE ratio of 185.86 and a beta of 0.48. The stock has a 50-day simple moving average of $8.19 and a 200 day simple moving average of $6.75.

Sandstorm Gold (NYSE:SAND) last posted its earnings results on Tuesday, May 6th. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.01). Sandstorm Gold had a net margin of 8.11% and a return on equity of 0.98%. The business had revenue of $50.10 million during the quarter, compared to analysts’ expectations of $71.61 million. Equities analysts expect that Sandstorm Gold Ltd. will post 0.18 EPS for the current year.

Sandstorm Gold Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 25th. Stockholders of record on Monday, April 14th were paid a $0.014 dividend. The ex-dividend date of this dividend was Monday, April 14th. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.60%. Sandstorm Gold’s payout ratio is presently 50.00%.

Institutional Investors Weigh In On Sandstorm Gold

Institutional investors have recently modified their holdings of the company. Sprott Inc. grew its stake in shares of Sandstorm Gold by 77.9% in the fourth quarter. Sprott Inc. now owns 4,465,843 shares of the company’s stock valued at $24,925,000 after buying an additional 1,955,916 shares in the last quarter. Barclays PLC grew its stake in shares of Sandstorm Gold by 6.4% in the third quarter. Barclays PLC now owns 399,854 shares of the company’s stock valued at $2,400,000 after buying an additional 23,947 shares in the last quarter. Swiss National Bank grew its stake in shares of Sandstorm Gold by 0.6% in the fourth quarter. Swiss National Bank now owns 501,762 shares of the company’s stock valued at $2,805,000 after buying an additional 3,000 shares in the last quarter. Deutsche Bank AG grew its stake in shares of Sandstorm Gold by 4.1% in the fourth quarter. Deutsche Bank AG now owns 552,995 shares of the company’s stock valued at $3,086,000 after buying an additional 21,858 shares in the last quarter. Finally, Louisbourg Investments Inc. grew its stake in shares of Sandstorm Gold by 17.4% in the fourth quarter. Louisbourg Investments Inc. now owns 728,182 shares of the company’s stock valued at $4,071,000 after buying an additional 108,000 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.