Wellington Management Group LLP Purchases New Position in Sandstorm Gold Ltd $SAND

Key Points

• Wellington Management Group LLP has invested approximately $15.6 million in Sandstorm Gold Ltd, acquiring 2,072,727 shares in the first quarter.
• Sandstorm Gold recently increased its quarterly dividend from $0.01 to $0.02 per share, marking an annualized yield of 0.7%.
• Institutional investors currently own 51.97% of Sandstorm Gold's stock, indicating significant interest from financial institutions.

Wellington Management Group LLP bought a new position in Sandstorm Gold Ltd (NYSE:SAND - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 2,072,727 shares of the company's stock, valued at approximately $15,617,000. Wellington Management Group LLP owned 0.71% of Sandstorm Gold as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Northwest & Ethical Investments L.P. increased its stake in Sandstorm Gold by 175.3% in the 1st quarter. Northwest & Ethical Investments L.P. now owns 21,074 shares of the company's stock worth $159,000 after purchasing an additional 13,420 shares during the period. American Century Companies Inc. boosted its position in shares of Sandstorm Gold by 2.4% during the first quarter. American Century Companies Inc. now owns 170,389 shares of the company's stock valued at $1,283,000 after purchasing an additional 3,921 shares in the last quarter. Boston Partners raised its stake in Sandstorm Gold by 15.9% during the first quarter. Boston Partners now owns 11,374,157 shares of the company's stock valued at $85,875,000 after buying an additional 1,562,142 shares during the last quarter. Zazove Associates LLC purchased a new position in Sandstorm Gold during the first quarter valued at $566,000. Finally, Russell Investments Group Ltd. raised its stake in shares of Sandstorm Gold by 4.8% in the first quarter. Russell Investments Group Ltd. now owns 437,521 shares of the company's stock worth $3,303,000 after purchasing an additional 20,029 shares during the last quarter. Hedge funds and other institutional investors own 51.97% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on SAND. Stifel Canada cut Sandstorm Gold from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 21st. Raymond James Financial set a $9.75 price objective on Sandstorm Gold and gave the stock an "outperform" rating in a research note on Wednesday, May 7th. Wall Street Zen raised Sandstorm Gold from a "hold" rating to a "buy" rating in a research note on Wednesday, May 21st. National Bankshares restated an "outperform" rating on shares of Sandstorm Gold in a research report on Tuesday, June 24th. Finally, HC Wainwright raised their price objective on Sandstorm Gold from $11.50 to $11.75 and gave the stock a "buy" rating in a report on Thursday, May 8th. Four investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Sandstorm Gold has a consensus rating of "Hold" and a consensus target price of $10.15.

Sandstorm Gold Stock Up 1.9%

Sandstorm Gold stock traded up $0.21 during midday trading on Friday, reaching $11.18. The company's stock had a trading volume of 4,425,389 shares, compared to its average volume of 5,577,941. The business has a 50-day simple moving average of $9.96 and a 200-day simple moving average of $8.53. The company has a market cap of $3.28 billion, a P/E ratio of 93.13 and a beta of 0.47. Sandstorm Gold Ltd has a fifty-two week low of $5.33 and a fifty-two week high of $11.21. 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 released its quarterly earnings results on Thursday, August 7th. The company reported $0.05 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.05. The firm had revenue of $51.42 million for the quarter, compared to analyst estimates of $68.43 million. Sandstorm Gold had a return on equity of 2.38% and a net margin of 17.78%. On average, research analysts expect that Sandstorm Gold Ltd will post 0.18 earnings per share for the current fiscal year.

Sandstorm Gold Increases Dividend

The firm also recently declared 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 boost from Sandstorm Gold's previous quarterly dividend of $0.01. The ex-dividend date was Tuesday, July 15th. This represents a $0.08 annualized dividend and a yield of 0.7%. Sandstorm Gold's payout ratio is presently 50.00%.

Sandstorm Gold 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.