Sandstorm Gold Ltd $SAND Shares Sold by Louisbourg Investments Inc.

Key Points

• Louisbourg Investments Inc. reduced its stake in Sandstorm Gold Ltd by 29.7%, selling 178,000 shares, bringing its total holdings to 421,282 shares valued at approximately $3.96 million.
• Despite this sell-off, other hedge funds, including Farther Finance Advisors LLC, significantly increased their positions, indicating a mixed sentiment among institutional investors.
• Recent analyst ratings provide a consensus "Hold" for Sandstorm Gold, with a range of recommendations from "Buy" to "Sell," and an average price target set at $10.15.

Louisbourg Investments Inc. cut its stake in Sandstorm Gold Ltd (NYSE:SAND - Free Report) by 29.7% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 421,282 shares of the company's stock after selling 178,000 shares during the period. Louisbourg Investments Inc. owned approximately 0.14% of Sandstorm Gold worth $3,956,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of SAND. Farther Finance Advisors LLC boosted its position in shares of Sandstorm Gold by 181.8% in the second quarter. Farther Finance Advisors LLC now owns 3,100 shares of the company's stock worth $29,000 after acquiring an additional 2,000 shares during the last quarter. Venture Visionary Partners LLC acquired a new stake in shares of Sandstorm Gold in the first quarter worth approximately $91,000. United Advisor Group LLC acquired a new stake in shares of Sandstorm Gold in the first quarter worth approximately $118,000. FORA Capital LLC acquired a new stake in shares of Sandstorm Gold in the first quarter worth approximately $121,000. Finally, Bank of New York Mellon Corp boosted its position in shares of 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 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.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. National Bankshares reissued an "outperform" rating on shares of Sandstorm Gold in a research 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 price target on the stock. in a report on Thursday, July 10th. Weiss Ratings restated a "hold (c)" rating on shares of Sandstorm Gold in a report on Saturday, September 27th. Finally, Stifel Canada lowered shares of Sandstorm Gold from a "strong-buy" rating to a "hold" rating in a report on Monday, July 21st. Four equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Sandstorm Gold presently has a consensus rating of "Hold" and an average price target of $10.15.

Sandstorm Gold Trading Up 0.7%

SAND opened at $12.12 on Friday. The firm has a market capitalization of $3.57 billion, a P/E ratio of 101.00 and a beta of 0.51. The firm's 50 day moving average is $11.39 and its 200-day moving average is $9.67. Sandstorm Gold Ltd has a 52-week low of $5.33 and a 52-week high of $12.90. 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 (NYSE:SAND - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.05 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.05. The company had revenue of $51.42 million for 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%. Analysts expect that Sandstorm Gold Ltd will post 0.18 EPS for the current fiscal year.

Sandstorm Gold Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 7th. Stockholders of record on Friday, September 26th were paid a dividend of $0.02 per share. The ex-dividend date was Friday, September 26th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.7%. Sandstorm Gold's dividend payout ratio (DPR) 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.

Want to see what other hedge funds are holding SAND? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sandstorm Gold Ltd (NYSE:SAND - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.