Millennium Management LLC Sells 491,064 Shares of Sandstorm Gold Ltd. (NYSE:SAND)

Millennium Management LLC lessened its position in shares of Sandstorm Gold Ltd. (NYSE:SAND - Free Report) by 66.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 244,419 shares of the company's stock after selling 491,064 shares during the quarter. Millennium Management LLC owned about 0.08% of Sandstorm Gold worth $1,364,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in SAND. Boston Partners boosted its holdings in shares of Sandstorm Gold by 39,289.9% in the 4th quarter. Boston Partners now owns 9,812,015 shares of the company's stock worth $54,751,000 after purchasing an additional 9,787,105 shares during the period. Sprott Inc. boosted its holdings in Sandstorm Gold by 77.9% during the 4th quarter. Sprott Inc. now owns 4,465,843 shares of the company's stock valued at $24,925,000 after acquiring an additional 1,955,916 shares during the period. Invesco Ltd. boosted its holdings in Sandstorm Gold by 35.0% during the 4th quarter. Invesco Ltd. now owns 6,522,246 shares of the company's stock valued at $36,394,000 after acquiring an additional 1,691,296 shares during the period. Amundi boosted its holdings in Sandstorm Gold by 74.9% during the 4th quarter. Amundi now owns 2,890,535 shares of the company's stock valued at $16,447,000 after acquiring an additional 1,238,050 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in Sandstorm Gold by 935.5% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,330,652 shares of the company's stock valued at $7,432,000 after acquiring an additional 1,202,144 shares during the period. Hedge funds and other institutional investors own 51.97% of the company's stock.

Sandstorm Gold Stock Down 3.6%

Shares of NYSE:SAND traded down $0.34 during trading hours on Friday, hitting $9.19. The company's stock had a trading volume of 6,960,721 shares, compared to its average volume of 3,828,913. Sandstorm Gold Ltd. has a 52 week low of $4.92 and a 52 week high of $9.68. 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 has a market capitalization of $2.69 billion, a price-to-earnings ratio of 183.84 and a beta of 0.46. The firm's fifty day moving average price is $8.33 and its 200 day moving average price is $6.84.

Sandstorm Gold (NYSE:SAND - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.05 by ($0.01). Sandstorm Gold had a net margin of 8.11% and a return on equity of 0.98%. The business had revenue of $50.10 million during the quarter, compared to the consensus estimate of $71.61 million. As a group, research analysts expect that Sandstorm Gold Ltd. will post 0.18 EPS for the current year.

Sandstorm Gold Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 25th. Investors of record on Monday, April 14th were paid a dividend of $0.014 per share. The ex-dividend date of this dividend was Monday, April 14th. This represents a $0.06 annualized dividend and a dividend yield of 0.61%. Sandstorm Gold's dividend payout ratio (DPR) is presently 50.00%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on SAND. Wall Street Zen upgraded Sandstorm Gold from a "hold" rating to a "buy" rating in a report on Wednesday, May 21st. HC Wainwright lifted their target price on Sandstorm Gold from $11.50 to $11.75 and gave the company a "buy" rating in a research report on Thursday, May 8th. Raymond James set a $9.75 target price on Sandstorm Gold and gave the company an "outperform" rating in a research report on Wednesday, May 7th. Royal Bank of Canada lifted their target price on Sandstorm Gold from $6.50 to $7.00 and gave the company an "outperform" rating in a research report on Friday, April 4th. Finally, Scotiabank lifted their target price 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. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $9.25.

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.