Sandstorm Gold (NYSE:SAND) Releases Earnings Results, Hits Expectations

Key Points

• Sandstorm Gold reported earnings of $0.05 per share for the quarter, matching analysts' expectations, but the revenue of $51.42 million fell short of the projected $68.43 million.
• The company has increased its quarterly dividend from $0.01 to $0.02, resulting in an annualized dividend yield of 0.8% with a payout ratio of 60%.
• Analyst ratings for Sandstorm Gold show a shift with one upgrade to "buy," but varying opinions exist, including a cut from "buy" to "sell" by some firms, reflecting mixed outlooks on the stock's future performance.

Sandstorm Gold (NYSE:SAND - Get Free Report) posted its earnings results on Thursday. The company reported $0.05 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.05, Zacks reports. Sandstorm Gold had a return on equity of 2.38% and a net margin of 17.78%. The business had revenue of $51.42 million during the quarter, compared to analyst estimates of $68.43 million.

Sandstorm Gold Price Performance

Sandstorm Gold stock opened at $10.42 on Friday. Sandstorm Gold has a 52-week low of $5.08 and a 52-week high of $10.56. The firm has a market capitalization of $3.05 billion, a price-to-earnings ratio of 86.83 and a beta of 0.47. The company has a fifty day simple moving average of $9.50 and a 200-day simple moving average of $8.04. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.24.

Sandstorm Gold Increases Dividend

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

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Wall Street Zen upgraded Sandstorm Gold from a "hold" rating to a "buy" rating in a report on Wednesday, May 21st. TD Securities cut Sandstorm Gold from a "buy" rating to a "sell" rating and set a $14.00 price objective for the company. in a research report on Thursday, July 10th. Scotiabank lifted their price objective 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. Stifel Canada cut Sandstorm Gold from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 21st. Finally, Raymond James Financial set a $9.75 price objective on Sandstorm Gold and gave the company an "outperform" rating in a research report on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $10.15.

Hedge Funds Weigh In On Sandstorm Gold

Several hedge funds have recently added to or reduced their stakes in the stock. Royal Bank of Canada lifted its stake in shares of Sandstorm Gold by 12.3% in the 1st quarter. Royal Bank of Canada now owns 65,526 shares of the company's stock valued at $494,000 after purchasing an additional 7,189 shares in the last quarter. Millennium Management LLC grew its stake in Sandstorm Gold by 731.7% during the 1st quarter. Millennium Management LLC now owns 2,032,823 shares of the company's stock worth $15,348,000 after buying an additional 1,788,404 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in Sandstorm Gold by 11.3% during 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 period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings 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 valued at $2,562,000 after buying an additional 22,677 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of Sandstorm Gold by 9.2% in the second quarter. Geode Capital Management LLC now owns 152,362 shares of the company's stock valued at $1,436,000 after buying an additional 12,860 shares during the period. 51.97% of the stock is currently owned by hedge funds and other 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.

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