Cercano Management LLC Makes New $2.77 Million Investment in Sandstorm Gold Ltd. (NYSE:SAND)

Cercano Management LLC purchased a new position in Sandstorm Gold Ltd. (NYSE:SAND - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 496,030 shares of the company's stock, valued at approximately $2,773,000. Cercano Management LLC owned approximately 0.17% of Sandstorm Gold as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Cantor Fitzgerald L. P. acquired a new position in shares of Sandstorm Gold during the fourth quarter worth about $56,000. Captrust Financial Advisors bought a new position in shares of Sandstorm Gold during the fourth quarter worth approximately $153,000. Ancora Advisors LLC lifted its position in Sandstorm Gold by 0.9% during the fourth quarter. Ancora Advisors LLC now owns 399,540 shares of the company's stock worth $2,229,000 after purchasing an additional 3,640 shares during the period. Parvin Asset Management LLC bought a new position in shares of Sandstorm Gold in the 4th quarter valued at $489,000. Finally, The Manufacturers Life Insurance Company increased its position in Sandstorm Gold by 2.0% during the 4th quarter. The Manufacturers Life Insurance Company now owns 231,650 shares of the company's stock worth $1,297,000 after purchasing an additional 4,548 shares in the last quarter. Institutional investors and hedge funds own 51.97% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on SAND. StockNews.com upgraded shares of Sandstorm Gold from a "hold" rating to a "buy" rating in a research report on Wednesday, February 26th. Royal Bank of Canada upped their target price on Sandstorm Gold from $6.50 to $7.00 and gave the company an "outperform" rating in a report on Friday, April 4th. Scotiabank upped their price target on Sandstorm Gold from $7.25 to $8.25 and gave the company a "sector perform" rating in a research report on Monday, April 14th. HC Wainwright upped their price target on Sandstorm Gold from $11.50 to $11.75 and gave the company a "buy" rating in a research report on Thursday. Finally, Raymond James set a $9.75 target price on shares of Sandstorm Gold and gave the stock an "outperform" rating in a research report on Wednesday. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $9.25.

Sandstorm Gold Stock Up 3.3 %

NYSE SAND traded up $0.28 during trading on Friday, reaching $8.81. 6,579,392 shares of the company's stock traded hands, compared to its average volume of 3,597,253. The firm has a market cap of $2.59 billion, a price-to-earnings ratio of 176.24 and a beta of 0.48. Sandstorm Gold Ltd. has a 12-month low of $4.92 and a 12-month high of $8.91. 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 company's 50 day simple moving average is $7.58 and its two-hundred day simple moving average is $6.45.

Sandstorm Gold (NYSE:SAND - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate 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 net margin of 8.11% and a return on equity of 0.98%. As a group, sell-side analysts forecast that Sandstorm Gold Ltd. will post 0.18 EPS for the current fiscal year.

Sandstorm Gold Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 25th. Shareholders of record on Monday, April 14th were issued a $0.014 dividend. This represents a $0.06 annualized dividend and a yield of 0.63%. The ex-dividend date was Monday, April 14th. Sandstorm Gold's payout ratio is currently 50.00%.

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.