Sandstorm Gold (NYSE:SAND) Hits New 52-Week High - Time to Buy?

Sandstorm Gold Ltd. (NYSE:SAND - Get Free Report) reached a new 52-week high during trading on Wednesday . The stock traded as high as $8.94 and last traded at $8.93, with a volume of 5693407 shares trading hands. The stock had previously closed at $8.77.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on SAND shares. Royal Bank of Canada upped their price target on shares of Sandstorm Gold from $6.50 to $7.00 and gave the company an "outperform" rating in a research report on Friday, April 4th. Scotiabank upped their price target on shares of Sandstorm Gold from $7.25 to $8.25 and gave the company a "sector perform" rating in a research report on Monday, April 14th. Raymond James 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. 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 report on Thursday, May 8th. Finally, Wall Street Zen raised shares of Sandstorm Gold from a "hold" rating to a "buy" rating in a research report on Wednesday, May 21st. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $9.25.

Sandstorm Gold Stock Down 0.6%

The company's fifty day moving average is $8.15 and its 200-day moving average is $6.70. The company has a market capitalization of $2.59 billion, a PE ratio of 176.84 and a beta of 0.48. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.29 and a current ratio of 1.95.

Sandstorm Gold (NYSE:SAND - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.01). The firm had revenue of $50.10 million during the quarter, compared to analysts' expectations of $71.61 million. Sandstorm Gold had a return on equity of 0.98% and a net margin of 8.11%. As a group, analysts predict that Sandstorm Gold Ltd. will post 0.18 EPS for the current fiscal year.

Sandstorm Gold Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 25th. Shareholders of record on Monday, April 14th were issued a dividend of $0.014 per share. This represents a $0.06 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date of this dividend was Monday, April 14th. Sandstorm Gold's dividend payout ratio (DPR) is currently 50.00%.

Institutional Investors Weigh In On Sandstorm Gold

Institutional investors have recently added to or reduced their stakes in the stock. Cantor Fitzgerald L. P. bought a new stake in Sandstorm Gold in the fourth quarter worth $56,000. Lifeworks Advisors LLC bought a new stake in Sandstorm Gold in the fourth quarter worth $57,000. Meixler Investment Management Ltd. bought a new stake in shares of Sandstorm Gold during the fourth quarter worth $66,000. Bank of New York Mellon Corp lifted its position in shares of Sandstorm Gold by 21.0% during the fourth quarter. Bank of New York Mellon Corp now owns 13,897 shares of the company's stock worth $78,000 after purchasing an additional 2,416 shares during the last quarter. Finally, Fiduciary Trust Co bought a new stake in shares of Sandstorm Gold during the fourth quarter worth $86,000. 51.97% of the stock is owned by hedge funds and other institutional investors.

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.