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

Key Points

• Sandstorm Gold Ltd. hit a new 52-week high with shares trading at $10.76, reflecting significant investor interest with over 6.75 million shares exchanged.
• The stock received various analyst upgrades, including a raise from "hold" to "buy" by Wall Street Zen and an increased price objective from HC Wainwright to $11.75.
• Sandstorm Gold recently increased its dividend from $0.01 to $0.02 per share, representing an annualized yield of 0.8% and a payout ratio of 50%.

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 $10.76 and last traded at $10.65, with a volume of 6757417 shares changing hands. The stock had previously closed at $10.63.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Wall Street Zen upgraded shares of Sandstorm Gold from a "hold" rating to a "buy" rating in a research report on Wednesday, May 21st. National Bankshares reiterated an "outperform" rating on shares of Sandstorm Gold in a research note on Tuesday, June 24th. TD Securities lowered Sandstorm Gold from a "buy" rating to a "sell" rating and set a $14.00 price target on the stock. 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. Finally, HC Wainwright boosted their target price 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. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $10.15.

Sandstorm Gold Stock Performance

The company has a market capitalization of $3.10 billion, a price-to-earnings ratio of 88.13 and a beta of 0.47. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.40 and a quick ratio of 2.40. The stock has a 50 day moving average price of $9.62 and a two-hundred day moving average price of $8.24.

Sandstorm Gold (NYSE:SAND - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.05 EPS for the quarter, hitting analysts' consensus estimates of $0.05. Sandstorm Gold had a net margin of 17.78% and a return on equity of 2.38%. The firm had revenue of $51.42 million for the quarter, compared to analyst estimates of $68.43 million. On average, analysts predict that Sandstorm Gold Ltd will post 0.18 EPS for the current fiscal year.

Sandstorm Gold Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 25th. Shareholders of record on Tuesday, July 15th were issued a dividend of $0.02 per share. The ex-dividend date of this dividend was Tuesday, July 15th. This represents a $0.08 annualized dividend and a yield of 0.8%. This is a positive change from Sandstorm Gold's previous quarterly dividend of $0.01. Sandstorm Gold's dividend payout ratio (DPR) is currently 50.00%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Farther Finance Advisors LLC boosted its position in Sandstorm Gold by 181.8% during 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 last quarter. Cantor Fitzgerald L. P. bought a new stake in shares of Sandstorm Gold in the 4th quarter valued at about $56,000. Keybank National Association OH bought a new stake in shares of Sandstorm Gold in the 2nd quarter valued at about $102,000. Venture Visionary Partners LLC acquired a new stake in Sandstorm Gold in the 1st quarter valued at about $91,000. Finally, Burford Brothers Inc. bought a new position in shares of Sandstorm Gold during the 2nd quarter worth approximately $117,000. 51.97% of the stock is currently owned by institutional investors.

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.