U S Global Investors Inc. raised its stake in shares of Sandstorm Gold Ltd. (NYSE:SAND – Free Report) by 31.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 909,749 shares of the company’s stock after acquiring an additional 216,756 shares during the quarter. U S Global Investors Inc. owned approximately 0.31% of Sandstorm Gold worth $5,076,000 at the end of the most recent quarter.
Several other hedge funds also recently added to or reduced their stakes in the stock. Allworth Financial LP bought a new stake in shares of Sandstorm Gold in the 3rd quarter valued at approximately $60,000. Meixler Investment Management Ltd. bought a new stake in Sandstorm Gold during the fourth quarter valued at $66,000. JTC Employer Solutions Trustee Ltd bought a new position in shares of Sandstorm Gold in the 4th quarter worth about $72,000. Bank of New York Mellon Corp boosted its holdings in shares of Sandstorm Gold by 21.0% in the 4th quarter. Bank of New York Mellon Corp now owns 13,897 shares of the company’s stock valued at $78,000 after buying an additional 2,416 shares during the period. Finally, Walleye Trading LLC bought a new stake in shares of Sandstorm Gold during the 3rd quarter valued at about $85,000. 51.97% of the stock is owned by institutional investors and hedge funds.
Sandstorm Gold Stock Performance
Shares of SAND opened at $6.24 on Friday. The firm’s 50 day moving average is $5.89 and its 200-day moving average is $5.84. Sandstorm Gold Ltd. has a 12-month low of $3.99 and a 12-month high of $6.67. 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 market capitalization of $1.85 billion, a P/E ratio of 124.72 and a beta of 1.10.
Sandstorm Gold Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Tuesday, January 21st were given a dividend of $0.02 per share. The ex-dividend date was Tuesday, January 21st. This is an increase from Sandstorm Gold’s previous quarterly dividend of $0.02. This represents a $0.08 dividend on an annualized basis and a yield of 1.28%. Sandstorm Gold’s dividend payout ratio (DPR) is 100.00%.
Wall Street Analysts Forecast Growth
A number of equities analysts have commented on the company. Scotiabank lifted their target price on Sandstorm Gold from $6.75 to $7.25 and gave the company a “sector perform” rating in a research note on Thursday. StockNews.com raised Sandstorm Gold from a “hold” rating to a “buy” rating in a research report on Wednesday. Finally, HC Wainwright reduced their price target on shares of Sandstorm Gold from $12.00 to $11.50 and set a “buy” rating for the company in a report on Wednesday, February 19th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $8.56.
Check Out Our Latest Analysis on SAND
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.
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