Sandstorm Gold (NYSE:SAND) Reaches New 1-Year High - Here's What Happened

Key Points

• Sandstorm Gold shares reached a new 12-month high, trading as high as $11.31, with a volume of 156,850 shares.
• Several analysts have recently updated their ratings, with four giving a buy recommendation, while two rated it a hold and one a sell.
• The company announced a quarterly dividend increase, which raised the amount from $0.01 to $0.02 per share, reflecting a 0.7% annual yield.

Sandstorm Gold Ltd (NYSE:SAND - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $11.31 and last traded at $11.17, with a volume of 156850 shares trading hands. The stock had previously closed at $11.16.

Wall Street Analyst Weigh In

Several research firms have recently weighed in 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 research note on Thursday, July 10th. Stifel Canada lowered Sandstorm Gold from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 21st. Wall Street Zen upgraded Sandstorm Gold from a "hold" rating to a "buy" rating in a report on Wednesday, May 21st. Finally, National Bankshares reiterated an "outperform" rating on shares of Sandstorm Gold in a report on Tuesday, June 24th. Four investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $10.15.

Sandstorm Gold Stock Up 2.3%

The company has a quick ratio of 2.40, a current ratio of 2.40 and a debt-to-equity ratio of 0.22. The firm has a 50-day moving average of $10.17 and a two-hundred day moving average of $8.69. The company has a market capitalization of $3.37 billion, a PE ratio of 95.68 and a beta of 0.52.

Sandstorm Gold (NYSE:SAND - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.05 earnings per share for the quarter, meeting analysts' consensus estimates of $0.05. Sandstorm Gold had a return on equity of 2.38% and a net margin of 17.78%.The company had revenue of $51.42 million for the quarter, compared to analysts' expectations of $68.43 million. Equities research analysts predict that Sandstorm Gold Ltd will post 0.18 earnings per share for the current fiscal year.

Sandstorm Gold Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 25th. Shareholders of record on Tuesday, July 15th were paid a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Tuesday, July 15th. This is an increase from Sandstorm Gold's previous quarterly dividend of $0.01. Sandstorm Gold's dividend payout ratio is presently 50.00%.

Institutional Investors Weigh In On Sandstorm Gold

A number of institutional investors have recently modified their holdings of the stock. Farther Finance Advisors LLC increased its stake 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 valued at $29,000 after purchasing an additional 2,000 shares during the period. Fiduciary Trust Co bought a new stake in Sandstorm Gold during the fourth quarter worth approximately $86,000. Venture Visionary Partners LLC bought a new stake in Sandstorm Gold during the first quarter worth approximately $91,000. Keybank National Association OH bought a new stake in Sandstorm Gold during the second quarter worth approximately $102,000. Finally, Burford Brothers Inc. bought a new stake in Sandstorm Gold during the second quarter worth approximately $117,000. Institutional investors and hedge funds own 51.97% of the company's stock.

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.