NewGen Equity Long Short Fund Invests $9.40 Million in Sandstorm Gold Ltd $SAND

NewGen Equity Long Short Fund purchased a new stake in Sandstorm Gold Ltd (NYSE:SAND) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 1,000,000 shares of the company’s stock, valued at approximately $9,401,000. Sandstorm Gold accounts for about 5.5% of NewGen Equity Long Short Fund’s investment portfolio, making the stock its 6th largest holding. NewGen Equity Long Short Fund owned approximately 0.34% of Sandstorm Gold at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of SAND. Bank of New York Mellon Corp raised its holdings in Sandstorm Gold by 43.8% during the 1st quarter. Bank of New York Mellon Corp now owns 19,989 shares of the company’s stock valued at $151,000 after acquiring an additional 6,092 shares during the period. Private Advisor Group LLC grew its position in shares of Sandstorm Gold by 4.0% in the first quarter. Private Advisor Group LLC now owns 253,166 shares of the company’s stock valued at $1,911,000 after purchasing an additional 9,662 shares in the last quarter. Cetera Investment Advisers grew its position in shares of Sandstorm Gold by 140.2% in the first quarter. Cetera Investment Advisers now owns 25,590 shares of the company’s stock valued at $193,000 after purchasing an additional 14,935 shares in the last quarter. TD Asset Management Inc raised its stake in shares of Sandstorm Gold by 4.2% during the 1st quarter. TD Asset Management Inc now owns 717,284 shares of the company’s stock valued at $5,402,000 after purchasing an additional 29,015 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Sandstorm Gold by 26.3% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 80,295 shares of the company’s stock worth $605,000 after purchasing an additional 16,741 shares in the last quarter. 51.97% of the stock is owned by institutional investors.

Sandstorm Gold Trading Down 5.8%

Shares of SAND stock opened at $12.16 on Wednesday. The company has a market capitalization of $3.59 billion, a PE ratio of 101.29 and a beta of 0.51. Sandstorm Gold Ltd has a 52-week low of $5.33 and a 52-week high of $13.09. The business’s fifty day moving average is $12.18 and its 200 day moving average is $10.53. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.40 and a current ratio of 2.40.

Sandstorm Gold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 7th. Stockholders of record on Friday, September 26th were issued a dividend of $0.02 per share. The ex-dividend date of this dividend was Friday, September 26th. This represents a $0.08 annualized dividend and a dividend yield of 0.7%. Sandstorm Gold’s payout ratio is presently 41.67%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Sandstorm Gold in a report on Tuesday, October 14th. Four investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $10.15.

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.