Sandstorm Gold (NYSE:SAND) Shares Gap Up – Here’s What Happened

by · The Markets Daily

Shares of Sandstorm Gold Ltd. (NYSE:SAND – Get Free Report) gapped up prior to trading on Wednesday . The stock had previously closed at $6.82, but opened at $7.11. Sandstorm Gold shares last traded at $7.05, with a volume of 744,516 shares trading hands.

Wall Street Analyst Weigh In

Several research firms have weighed in on SAND. HC Wainwright dropped their target price on Sandstorm Gold from $12.00 to $11.50 and set a “buy” rating for the company in a research report on Wednesday, February 19th. StockNews.com upgraded shares of Sandstorm Gold from a “hold” rating to a “buy” rating in a report on Wednesday, February 26th. Royal Bank of Canada boosted their price target on shares of Sandstorm Gold from $6.50 to $7.00 and gave the stock an “outperform” rating in a research note on Friday, April 4th. Scotiabank lifted their target price on Sandstorm Gold from $6.75 to $7.25 and gave the company a “sector perform” rating in a report on Thursday, February 27th. Finally, Raymond James restated an “outperform” rating on shares of Sandstorm Gold in a report on Friday, April 4th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Sandstorm Gold presently has a consensus rating of “Moderate Buy” and a consensus target price of $8.81.

Read Our Latest Research Report on Sandstorm Gold

Sandstorm Gold Stock Performance

The company has a market capitalization of $2.34 billion, a price-to-earnings ratio of 158.11 and a beta of 0.90. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.95 and a quick ratio of 2.29. The stock has a 50 day simple moving average of $6.66 and a two-hundred day simple moving average of $6.09.

Sandstorm Gold (NYSE:SAND – Get Free Report) last issued its earnings results on Tuesday, February 18th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.03). The business had revenue of $47.40 million for the quarter, compared to analyst estimates of $67.49 million. Sandstorm Gold had a return on equity of 0.98% and a net margin of 8.11%. During the same period last year, the business posted ($0.04) EPS. As a group, analysts anticipate that Sandstorm Gold Ltd. will post 0.18 earnings per share for the current year.

Sandstorm Gold Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, April 14th will be issued a $0.014 dividend. This represents a $0.06 annualized dividend and a dividend yield of 0.71%. The ex-dividend date is Monday, April 14th. Sandstorm Gold’s payout ratio is 100.00%.

Institutional Investors Weigh In On Sandstorm Gold

Several hedge funds and other institutional investors have recently bought and sold shares of SAND. FMR LLC acquired a new position in Sandstorm Gold in the third quarter valued at $600,000. Point72 Asset Management L.P. purchased a new position in Sandstorm Gold during the 3rd quarter worth approximately $153,000. Public Employees Retirement System of Ohio acquired a new position in Sandstorm Gold during the third quarter worth approximately $464,000. Barclays PLC lifted its stake in 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 during the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Sandstorm Gold by 7.5% during the third quarter. Geode Capital Management LLC now owns 125,681 shares of the company’s stock worth $757,000 after acquiring an additional 8,728 shares during the last quarter. 51.97% of the stock is currently owned by institutional investors and hedge funds.

About Sandstorm Gold

(Get Free Report)

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.

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