BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Sells 2,967,082 Shares of Sandstorm Gold Ltd $SAND

Key Points

• British Columbia Investment Management Corp significantly reduced its stake in Sandstorm Gold by 95.5%, selling 2,967,082 shares and now holding only 138,510 shares worth approximately $1,044,000.
• Several other institutional investors have recently entered or adjusted their positions in Sandstorm Gold, with a notable 43.8% increase in ownership by Bank of New York Mellon Corp.
• Sandstorm Gold has recently increased its quarterly dividend from $0.01 to $0.02, resulting in an annualized yield of 0.7%.

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp cut its holdings in shares of Sandstorm Gold Ltd (NYSE:SAND - Free Report) by 95.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 138,510 shares of the company's stock after selling 2,967,082 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in Sandstorm Gold were worth $1,044,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in SAND. Cantor Fitzgerald L. P. acquired a new position in shares of Sandstorm Gold during the 4th quarter worth approximately $56,000. Fiduciary Trust Co acquired a new position in shares of Sandstorm Gold during the 4th quarter worth approximately $86,000. Venture Visionary Partners LLC acquired a new position in shares of Sandstorm Gold during the 1st quarter worth approximately $91,000. United Advisor Group LLC acquired a new position in shares of Sandstorm Gold during the 1st quarter worth approximately $118,000. Finally, Bank of New York Mellon Corp increased its holdings in shares of Sandstorm Gold by 43.8% during the 1st quarter. Bank of New York Mellon Corp now owns 19,989 shares of the company's stock worth $151,000 after acquiring an additional 6,092 shares during the last quarter. 51.97% of the stock is owned by institutional investors and hedge funds.

Sandstorm Gold Price Performance

Shares of NYSE:SAND traded up $0.21 during trading on Friday, reaching $11.18. 4,425,389 shares of the company traded hands, compared to its average volume of 5,577,941. The company's 50 day moving average is $9.96 and its two-hundred day moving average is $8.53. The firm has a market capitalization of $3.28 billion, a PE ratio of 93.13 and a beta of 0.47. The company has a quick ratio of 2.40, a current ratio of 2.40 and a debt-to-equity ratio of 0.22. Sandstorm Gold Ltd has a 52 week low of $5.33 and a 52 week high of $11.21.

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

Sandstorm Gold Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 25th. Investors of record on Tuesday, July 15th were given a dividend of $0.02 per share. The ex-dividend date was Tuesday, July 15th. This represents a $0.08 annualized dividend and a dividend yield of 0.7%. This is an increase from Sandstorm Gold's previous quarterly dividend of $0.01. Sandstorm Gold's dividend payout ratio is currently 50.00%.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Stifel Canada lowered Sandstorm Gold from a "strong-buy" rating to a "hold" rating in a report on Monday, July 21st. Wall Street Zen raised Sandstorm Gold from a "hold" rating to a "buy" rating in a report on Wednesday, May 21st. Raymond James Financial set a $9.75 price objective on Sandstorm Gold and gave the company an "outperform" rating in a report on Wednesday, May 7th. National Bankshares reaffirmed an "outperform" rating on shares of Sandstorm Gold in a report on Tuesday, June 24th. Finally, TD Securities lowered Sandstorm Gold from a "buy" rating to a "sell" rating and set a $14.00 price objective on the stock. in a report on Thursday, July 10th. Four investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Sandstorm Gold has a consensus rating of "Hold" and a consensus price target of $10.15.

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.