Sandstorm Gold (NYSE:SAND) Hits New 52-Week High - Here's What Happened

Sandstorm Gold Ltd (NYSE:SAND - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $9.69 and last traded at $9.59, with a volume of 3088437 shares traded. The stock had previously closed at $9.42.

Analyst Ratings Changes

A number of research analysts recently weighed in on SAND shares. Wall Street Zen raised shares of Sandstorm Gold from a "hold" rating to a "buy" rating in a research report on Wednesday, May 21st. Scotiabank raised 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. National Bankshares reissued an "outperform" rating on shares of Sandstorm Gold in a report on Tuesday, June 24th. HC Wainwright upped their price target on shares of Sandstorm Gold from $11.50 to $11.75 and gave the company a "buy" rating in a research note on Thursday, May 8th. Finally, Raymond James Financial set a $9.75 price target on shares of Sandstorm Gold and gave the company an "outperform" rating in a research report on Wednesday, May 7th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $9.25.

Sandstorm Gold Stock Up 2.5%

The company has a market cap of $2.83 billion, a P/E ratio of 96.61 and a beta of 0.46. The stock has a 50-day moving average of $8.91 and a two-hundred day moving average of $7.34. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.77 and a current ratio of 1.77.

Sandstorm Gold (NYSE:SAND - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.04 earnings per share for the quarter, missing analysts' consensus estimates of $0.05 by ($0.01). The business had revenue of $50.10 million during the quarter, compared to the consensus estimate of $71.61 million. Sandstorm Gold had a return on equity of 2.00% and a net margin of 15.80%. On average, research analysts anticipate that Sandstorm Gold Ltd will post 0.18 EPS for the current fiscal year.

Sandstorm Gold Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Tuesday, July 15th will be given a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.83%. This is a positive change from Sandstorm Gold's previous quarterly dividend of $0.01. The ex-dividend date of this dividend is Tuesday, July 15th. Sandstorm Gold's dividend payout ratio (DPR) is presently 50.00%.

Institutional Trading of Sandstorm Gold

Hedge funds and other institutional investors have recently bought and sold shares of the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Sandstorm Gold by 7.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 339,284 shares of the company's stock worth $2,562,000 after buying an additional 22,677 shares during the period. Goldman Sachs Group Inc. grew its holdings in Sandstorm Gold by 11.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,120,393 shares of the company's stock worth $8,459,000 after acquiring an additional 113,660 shares during the last quarter. Millennium Management LLC grew its holdings in Sandstorm Gold by 731.7% in the 1st quarter. Millennium Management LLC now owns 2,032,823 shares of the company's stock worth $15,348,000 after acquiring an additional 1,788,404 shares during the last quarter. Ancora Advisors LLC increased its position in shares of Sandstorm Gold by 49.5% in the first quarter. Ancora Advisors LLC now owns 597,250 shares of the company's stock valued at $4,509,000 after acquiring an additional 197,710 shares during the period. Finally, Cubist Systematic Strategies LLC bought a new position in shares of Sandstorm Gold during the first quarter valued at about $4,443,000. Institutional investors 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.