Connor Clark & Lunn Investment Management Ltd. Buys New Position in Sandstorm Gold Ltd (NYSE:SAND)

Key Points

• Connor Clark & Lunn Investment Management Ltd. has acquired a new stake in Sandstorm Gold Ltd, purchasing 1,153,679 shares valued at approximately $8.69 million, representing about 0.39% of the company.
• Sandstorm Gold recently increased its quarterly dividend from $0.01 to $0.02 per share, reflecting positive changes for investors and a payout ratio of 50%.
• Analysts have mixed opinions on Sandstorm Gold's prospects, with one firm boosting the target price to $8.25 while another downgraded the stock to a "sell" rating with a target of $14.00.

Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Sandstorm Gold Ltd (NYSE:SAND - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,153,679 shares of the company's stock, valued at approximately $8,692,000. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.39% of Sandstorm Gold at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the company. Cantor Fitzgerald L. P. acquired a new stake in Sandstorm Gold in the fourth quarter valued at $56,000. Fiduciary Trust Co acquired a new stake in Sandstorm Gold in the fourth quarter valued at $86,000. United Advisor Group LLC acquired a new stake in Sandstorm Gold in the first quarter valued at $118,000. Bank of New York Mellon Corp raised its holdings in Sandstorm Gold by 43.8% in 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 in the last quarter. Finally, Rossby Financial LCC acquired a new stake in Sandstorm Gold in the fourth quarter valued at $112,000. 51.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. National Bankshares reaffirmed an "outperform" rating on shares of Sandstorm Gold in a report on Tuesday, June 24th. TD Securities lowered shares of Sandstorm Gold from a "buy" rating to a "sell" rating and set a $14.00 target price for the company. in a research note on Thursday, July 10th. HC Wainwright boosted their target price on shares of Sandstorm Gold from $11.50 to $11.75 and gave the company a "buy" rating in a research note on Thursday, May 8th. 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, Raymond James Financial set a $9.75 target price on shares of Sandstorm Gold and gave the company an "outperform" rating in a research note on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Sandstorm Gold has a consensus rating of "Moderate Buy" and an average target price of $10.15.

Sandstorm Gold Stock Performance

Shares of SAND stock traded up $0.13 during trading hours on Friday, reaching $10.61. The stock had a trading volume of 3,812,812 shares, compared to its average volume of 6,823,976. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.40 and a quick ratio of 2.40. Sandstorm Gold Ltd has a twelve month low of $5.33 and a twelve month high of $10.76. The firm has a 50-day simple moving average of $9.62 and a 200-day simple moving average of $8.21. The firm has a market capitalization of $3.11 billion, a PE ratio of 88.42 and a beta of 0.47.

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

Sandstorm Gold Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 25th. Investors of record on Tuesday, July 15th were given a $0.02 dividend. The ex-dividend date was Tuesday, July 15th. This represents a $0.08 dividend on an annualized basis and a yield of 0.8%. This is a boost from Sandstorm Gold's previous quarterly dividend of $0.01. Sandstorm Gold's payout ratio is currently 50.00%.

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.