Sandstorm Gold (NYSE:SAND) Reaches New 1-Year High – Here’s What Happened

Sandstorm Gold Ltd. (NYSE:SAND)’s share price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $6.50 and last traded at $6.49, with a volume of 2941188 shares trading hands. The stock had previously closed at $6.28.

Analyst Upgrades and Downgrades

SAND has been the subject of several research reports. HC Wainwright upped their price target on shares of Sandstorm Gold from $11.50 to $12.00 and gave the company a “buy” rating in a research report on Monday, November 11th. StockNews.com upgraded Sandstorm Gold from a “hold” rating to a “buy” rating in a research note on Wednesday, February 5th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Sandstorm Gold currently has a consensus rating of “Moderate Buy” and a consensus target price of $8.50.

Sandstorm Gold Stock Up 2.2 %

The stock has a market capitalization of $1.95 billion, a P/E ratio of 54.84 and a beta of 1.10. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.29 and a current ratio of 2.29. The company’s 50-day moving average price is $5.73 and its 200 day moving average price is $5.77.

Sandstorm Gold Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Tuesday, January 21st were given a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 1.22%. This is an increase from Sandstorm Gold’s previous quarterly dividend of $0.02. The ex-dividend date was Tuesday, January 21st. Sandstorm Gold’s payout ratio is presently 50.00%.

Institutional Trading of Sandstorm Gold

Several institutional investors have recently made changes to their positions in the business. Barclays PLC lifted its stake in Sandstorm Gold by 6.4% in the 3rd quarter. Barclays PLC now owns 399,854 shares of the company’s stock worth $2,400,000 after purchasing an additional 23,947 shares in the last quarter. FMR LLC purchased a new stake in shares of Sandstorm Gold in the third quarter worth about $600,000. Intact Investment Management Inc. boosted its stake in Sandstorm Gold by 195.0% during the third quarter. Intact Investment Management Inc. now owns 130,100 shares of the company’s stock valued at $781,000 after buying an additional 86,000 shares during the last quarter. Geode Capital Management LLC grew its holdings in Sandstorm Gold by 7.5% during the 3rd quarter. Geode Capital Management LLC now owns 125,681 shares of the company’s stock valued at $757,000 after buying an additional 8,728 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd increased its stake in Sandstorm Gold by 219.0% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 47,727 shares of the company’s stock worth $286,000 after acquiring an additional 32,766 shares during the last quarter. Hedge funds and other 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.