Sandstorm Gold Ltd (NYSE:SAND) Short Interest Up 43.6% in September

Key Points

• Sandstorm Gold Ltd (NYSE:SAND) saw a 43.6% increase in short interest in September, rising to 4.81 million shares from 3.35 million shares.
• The stock recently traded down 5.8% to $12.16, with a trading volume significantly higher than the average at 14.5 million shares.
• The company announced a quarterly dividend of $0.02 per share, with an annualized yield of 0.7% and a payout ratio of 41.67%.

Sandstorm Gold Ltd (NYSE:SAND - Get Free Report) was the target of a large increase in short interest during the month of September. As of September 30th, there was short interest totaling 4,810,000 shares, an increase of 43.6% from the September 15th total of 3,350,000 shares. Based on an average daily volume of 5,860,000 shares, the days-to-cover ratio is presently 0.8 days. Approximately 1.8% of the shares of the stock are short sold. Approximately 1.8% of the shares of the stock are short sold. Based on an average daily volume of 5,860,000 shares, the days-to-cover ratio is presently 0.8 days.

Sandstorm Gold Trading Down 5.8%

Shares of SAND stock traded down $0.75 on Thursday, reaching $12.16. The company had a trading volume of 14,507,623 shares, compared to its average volume of 6,317,968. The stock has a market cap of $3.59 billion, a PE ratio of 101.29 and a beta of 0.51. The company has a current ratio of 2.40, a quick ratio of 2.40 and a debt-to-equity ratio of 0.22. The company has a 50-day moving average of $11.74 and a 200-day moving average of $9.94. Sandstorm Gold has a 12 month low of $5.33 and a 12 month high of $13.09.

Sandstorm Gold (NYSE:SAND - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.05 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 return on equity of 2.38% and a net margin of 17.78%. On average, equities analysts forecast that Sandstorm Gold will post 0.18 earnings per share for the current year.

Sandstorm Gold Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 7th. Investors of record on Friday, September 26th were issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Friday, September 26th. Sandstorm Gold's dividend payout ratio (DPR) is presently 41.67%.

Institutional Investors Weigh In On Sandstorm Gold

Large investors have recently added to or reduced their stakes in the stock. Apollon Wealth Management LLC bought a new stake in Sandstorm Gold during the third quarter worth about $158,000. Precision Wealth Strategies LLC acquired a new stake in Sandstorm Gold in the third quarter valued at approximately $723,000. Blue Trust Inc. acquired a new position in shares of Sandstorm Gold during the third quarter worth $32,000. Sheets Smith Wealth Management bought a new position in shares of Sandstorm Gold in the 3rd quarter valued at $275,000. Finally, Sheets Smith Investment Management bought a new stake in Sandstorm Gold during the 3rd quarter worth $654,000. Institutional investors and hedge funds own 51.97% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on SAND. TD Securities cut Sandstorm Gold from a "buy" rating to a "sell" rating and set a $14.00 price target for the company. in a report on Thursday, July 10th. Weiss Ratings reiterated a "hold (c+)" rating on shares of Sandstorm Gold in a research report on Tuesday, October 14th. Finally, Stifel Canada lowered Sandstorm Gold from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 21st. Four investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Sandstorm Gold has an average 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.

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.