Sandstorm Gold (NYSE:SAND) Sets New 12-Month High – What’s Next?

Sandstorm Gold Ltd. (NYSE:SAND) shares hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $8.94 and last traded at $8.93, with a volume of 5693407 shares. The stock had previously closed at $8.77.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on SAND shares. HC Wainwright raised their target price on Sandstorm Gold from $11.50 to $11.75 and gave the stock a “buy” rating in a research note on Thursday, May 8th. Raymond James set a $9.75 target price on Sandstorm Gold and gave the stock 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 research note on Wednesday, May 21st. Royal Bank of Canada raised their target price on Sandstorm Gold from $6.50 to $7.00 and gave the stock an “outperform” rating in a research note on Friday, April 4th. Finally, Scotiabank raised their target price on Sandstorm Gold from $7.25 to $8.25 and gave the stock a “sector perform” rating in a research note on Monday, April 14th. 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 MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $9.25.

Sandstorm Gold Stock Up 1.8%

The business has a 50-day moving average of $8.04 and a 200-day moving average of $6.64. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.29 and a current ratio of 1.95. The stock has a market capitalization of $2.62 billion, a price-to-earnings ratio of 178.64 and a beta of 0.48.

Sandstorm Gold (NYSE:SAND) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.01). The business had revenue of $50.10 million for the quarter, compared to analyst estimates of $71.61 million. Sandstorm Gold had a return on equity of 0.98% and a net margin of 8.11%. On average, sell-side analysts expect that Sandstorm Gold Ltd. will post 0.18 EPS for the current year.

Sandstorm Gold Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 25th. Investors of record on Monday, April 14th were given a dividend of $0.014 per share. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date of this dividend was Monday, April 14th. Sandstorm Gold’s payout ratio is 50.00%.

Institutional Trading of Sandstorm Gold

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Barclays PLC grew its position in Sandstorm Gold by 6.4% in the 3rd quarter. Barclays PLC now owns 399,854 shares of the company’s stock valued at $2,400,000 after acquiring an additional 23,947 shares in the last quarter. Money Concepts Capital Corp grew its position in Sandstorm Gold by 3.1% in the 4th quarter. Money Concepts Capital Corp now owns 177,499 shares of the company’s stock valued at $990,000 after acquiring an additional 5,393 shares in the last quarter. Louisbourg Investments Inc. grew its position in Sandstorm Gold by 17.4% in the 4th quarter. Louisbourg Investments Inc. now owns 728,182 shares of the company’s stock valued at $4,071,000 after acquiring an additional 108,000 shares in the last quarter. Meixler Investment Management Ltd. acquired a new position in Sandstorm Gold in the 4th quarter valued at about $66,000. Finally, Olympiad Research LP acquired a new position in Sandstorm Gold in the 4th quarter valued at about $133,000. 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.