Cubist Systematic Strategies LLC Buys New Position in Sandstorm Gold Ltd $SAND

Key Points

• Cubist Systematic Strategies LLC acquired 588,398 shares of Sandstorm Gold Ltd for approximately $4.44 million, representing about 0.20% of the company's stock.
• The company increased its quarterly dividend from $0.01 to $0.02, reflecting an annual yield of 0.7% with a payout ratio of 50%.
• Sandstorm Gold's stock has shown a significant range over the past year, with a low of $5.33 and a high of $11.51, and it recently opened at $11.23.

Cubist Systematic Strategies LLC purchased a new stake in shares of Sandstorm Gold Ltd (NYSE:SAND - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 588,398 shares of the company's stock, valued at approximately $4,443,000. Cubist Systematic Strategies LLC owned about 0.20% of Sandstorm Gold at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in SAND. Fiduciary Trust Co purchased a new stake in shares of Sandstorm Gold during the fourth quarter worth $86,000. Venture Visionary Partners LLC purchased a new stake in Sandstorm Gold in the first quarter valued at approximately $91,000. United Advisor Group LLC bought a new stake in shares of Sandstorm Gold during the 1st quarter worth $118,000. FORA Capital LLC purchased a new position in shares of Sandstorm Gold in the 1st quarter worth about $121,000. Finally, Bank of New York Mellon Corp grew its position in Sandstorm Gold by 43.8% during the first quarter. Bank of New York Mellon Corp now owns 19,989 shares of the company's stock valued at $151,000 after acquiring an additional 6,092 shares during the last quarter. Institutional investors own 51.97% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have commented on the company. TD Securities cut Sandstorm Gold from a "buy" rating to a "sell" rating and set a $14.00 price target on the stock. in a research note on Thursday, July 10th. National Bankshares reaffirmed an "outperform" rating on shares of Sandstorm Gold in a research report on Tuesday, June 24th. Wall Street Zen upgraded shares of Sandstorm Gold from a "hold" rating to a "buy" rating in a research note on Wednesday, May 21st. Finally, Stifel Canada cut Sandstorm Gold from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 21st. Four analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Sandstorm Gold presently has a consensus rating of "Hold" and a consensus price target of $10.15.

Sandstorm Gold Stock Performance

Shares of SAND stock traded up $0.13 during trading hours on Wednesday, reaching $11.62. The company had a trading volume of 3,442,546 shares, compared to its average volume of 4,259,509. The firm has a market cap of $3.41 billion, a PE ratio of 96.79 and a beta of 0.52. The business has a fifty day moving average price of $10.30 and a 200-day moving average price of $8.81. Sandstorm Gold Ltd has a one year low of $5.33 and a one year high of $11.74. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.40 and a current ratio of 2.40.

Sandstorm Gold (NYSE:SAND - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported $0.05 EPS for the quarter, hitting analysts' consensus estimates of $0.05. The business had revenue of $51.42 million during the quarter, compared to the consensus estimate of $68.43 million. Sandstorm Gold had a net margin of 17.78% and a return on equity of 2.38%. Sell-side analysts predict that Sandstorm Gold Ltd will post 0.18 earnings per share for the current fiscal year.

Sandstorm Gold Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 25th. Shareholders of record on Tuesday, July 15th were issued a $0.02 dividend. This is a positive change from Sandstorm Gold's previous quarterly dividend of $0.01. This represents a $0.08 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Tuesday, July 15th. Sandstorm Gold's dividend 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.