Sandstorm Gold (NYSE:SAND) Hits New 12-Month High – Here’s Why

Sandstorm Gold Ltd (NYSE:SAND) shares hit a new 52-week high on Tuesday . The stock traded as high as $11.31 and last traded at $11.17, with a volume of 156850 shares. The stock had previously closed at $11.16.

Analysts Set New Price Targets

Several research firms recently issued reports on SAND. HC Wainwright lifted their price target on shares of Sandstorm Gold from $11.50 to $11.75 and gave the stock a “buy” rating in a research note on Thursday, May 8th. TD Securities lowered shares of Sandstorm Gold from a “buy” rating to a “sell” rating and set a $14.00 price target for the company. in a research report on Thursday, July 10th. Raymond James Financial set a $9.75 price objective on shares of Sandstorm Gold and gave the company an “outperform” rating in a research note on Wednesday, May 7th. Wall Street Zen raised Sandstorm Gold from a “hold” rating to a “buy” rating in a report on Wednesday, May 21st. Finally, National Bankshares reiterated an “outperform” rating on shares of Sandstorm Gold in a report on Tuesday, June 24th. Four analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $10.15.

Sandstorm Gold Trading Up 2.0%

The company has a quick ratio of 2.40, a current ratio of 2.40 and a debt-to-equity ratio of 0.22. The company has a market cap of $3.34 billion, a P/E ratio of 94.88 and a beta of 0.52. The business has a 50-day moving average price of $9.99 and a two-hundred day moving average price of $8.59.

Sandstorm Gold (NYSE:SAND) last released its earnings results on Thursday, August 7th. The company reported $0.05 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.05. Sandstorm Gold had a net margin of 17.78% and a return on equity of 2.38%. The business had revenue of $51.42 million during the quarter, compared to the consensus estimate of $68.43 million. On average, analysts predict that Sandstorm Gold Ltd will post 0.18 EPS for the current year.

Sandstorm Gold Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 25th. Investors of record on Tuesday, July 15th were given a dividend of $0.02 per share. The ex-dividend date was Tuesday, July 15th. This represents a $0.08 dividend on an annualized basis and a yield of 0.7%. This is an increase from Sandstorm Gold’s previous quarterly dividend of $0.01. Sandstorm Gold’s dividend payout ratio is presently 50.00%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of SAND. Arrowstreet Capital Limited Partnership increased its position in shares of Sandstorm Gold by 779.5% during the second quarter. Arrowstreet Capital Limited Partnership now owns 4,686,377 shares of the company’s stock valued at $44,070,000 after buying an additional 4,153,559 shares during the period. Invesco Ltd. grew its stake in shares of Sandstorm Gold by 44.1% in the second quarter. Invesco Ltd. now owns 9,740,857 shares of the company’s stock worth $91,564,000 after purchasing an additional 2,980,656 shares during the last quarter. Hillsdale Investment Management Inc. bought a new position in Sandstorm Gold in the second quarter worth about $20,063,000. Wellington Management Group LLP bought a new stake in Sandstorm Gold during the first quarter worth about $15,617,000. Finally, Two Sigma Advisers LP boosted its stake in Sandstorm Gold by 580.6% during the fourth quarter. Two Sigma Advisers LP now owns 2,314,684 shares of the company’s stock worth $12,916,000 after acquiring an additional 1,974,600 shares in the last quarter. Institutional investors own 51.97% of the company’s stock.

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.