Sandstorm Gold (NYSE:SAND) Reaches New 52-Week High - Should You Buy?

Key Points

• Sandstorm Gold Ltd shares hit a new 52-week high of $10.46 during trading, closing at $10.39 with a trading volume of 1,111,950 shares.
• Analysts have provided mixed ratings for Sandstorm Gold, with an average rating of "Moderate Buy" and a target price of $10.15, reflecting a range of price objectives from $7.25 to $11.75.
• The company announced a dividend increase, raising the quarterly dividend from $0.01 to $0.02 per share, representing a current yield of 0.8% and a payout ratio of 60%.

Shares of Sandstorm Gold Ltd (NYSE:SAND - Get Free Report) hit a new 52-week high during trading on Friday . The company traded as high as $10.46 and last traded at $10.39, with a volume of 1111950 shares changing hands. The stock had previously closed at $10.16.

Analyst Ratings Changes

Several research analysts have commented on SAND shares. Raymond James Financial set a $9.75 price objective on shares of Sandstorm Gold and gave the company an "outperform" rating in a report on Wednesday, May 7th. Wall Street Zen raised shares of Sandstorm Gold from a "hold" rating to a "buy" rating in a research note on Wednesday, May 21st. Scotiabank lifted their price objective on shares of Sandstorm Gold from $7.25 to $8.25 and gave the stock a "sector perform" rating in a research report on Monday, April 14th. Stifel Canada lowered shares of Sandstorm Gold from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 21st. Finally, HC Wainwright increased their price objective on shares of Sandstorm Gold from $11.50 to $11.75 and gave the stock a "buy" rating in a research note on Thursday, May 8th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $10.15.

Sandstorm Gold Stock Performance

The stock has a market cap of $3.09 billion, a price-to-earnings ratio of 105.56 and a beta of 0.47. The firm's 50-day moving average is $9.47 and its two-hundred day moving average is $8.01. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.24.

Sandstorm Gold (NYSE:SAND - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $0.05 earnings per share for the quarter, meeting the consensus estimate of $0.05. Sandstorm Gold had a return on equity of 2.00% and a net margin of 15.80%. The business had revenue of $51.42 million for the quarter, compared to the consensus estimate of $68.43 million. As a group, sell-side analysts expect that Sandstorm Gold Ltd will post 0.18 earnings per share for the current year.

Sandstorm Gold Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 25th. Investors of record on Tuesday, July 15th were given a dividend of $0.02 per share. The ex-dividend date was Tuesday, July 15th. This is a boost from Sandstorm Gold's previous quarterly dividend of $0.01. This represents a $0.08 dividend on an annualized basis and a yield of 0.8%. Sandstorm Gold's dividend payout ratio (DPR) is presently 60.00%.

Institutional Trading of Sandstorm Gold

Hedge funds have recently bought and sold shares of the business. Commonwealth Equity Services LLC increased its position in Sandstorm Gold by 28.5% during the fourth quarter. Commonwealth Equity Services LLC now owns 21,736 shares of the company's stock worth $121,000 after purchasing an additional 4,817 shares during the last quarter. American Century Companies Inc. raised its position in Sandstorm Gold by 16.9% in the fourth quarter. American Century Companies Inc. now owns 166,468 shares of the company's stock valued at $931,000 after purchasing an additional 24,056 shares during the period. Geode Capital Management LLC lifted its stake in shares of Sandstorm Gold by 3.2% in the 4th quarter. Geode Capital Management LLC now owns 129,749 shares of the company's stock valued at $731,000 after purchasing an additional 4,068 shares during the last quarter. Russell Investments Group Ltd. increased its position in shares of Sandstorm Gold by 13.0% during the 4th quarter. Russell Investments Group Ltd. now owns 417,492 shares of the company's stock worth $2,330,000 after purchasing an additional 48,108 shares during the last quarter. Finally, Bank of Montreal Can lifted its position in Sandstorm Gold by 68.0% in the fourth quarter. Bank of Montreal Can now owns 2,359,258 shares of the company's stock valued at $13,179,000 after buying an additional 954,564 shares during the last quarter. 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.

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.