Sandstorm Gold (NYSE:SAND) Shares Gap Up - Still a Buy?

Sandstorm Gold Ltd (NYSE:SAND - Get Free Report) gapped up before the market opened on Monday . The stock had previously closed at $9.63, but opened at $10.16. Sandstorm Gold shares last traded at $10.11, with a volume of 5,008,055 shares traded.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. National Bankshares reissued an "outperform" rating on shares of Sandstorm Gold in a research report on Tuesday, June 24th. HC Wainwright raised their target price on Sandstorm Gold from $11.50 to $11.75 and gave the stock a "buy" rating in a research report on Thursday, May 8th. TD Securities lowered Sandstorm Gold from a "buy" rating to a "sell" rating and set a $14.00 target price on the stock. in a research report on Thursday. Wall Street Zen raised Sandstorm Gold from a "hold" rating to a "buy" rating in a research report on Wednesday, May 21st. Finally, Raymond James Financial set a $9.75 price target on Sandstorm Gold and gave the stock an "outperform" rating in a research report on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $10.04.

Sandstorm Gold Stock Performance

The firm has a market cap of $2.88 billion, a price-to-earnings ratio of 98.36 and a beta of 0.46. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.24. The stock has a fifty day moving average price of $8.99 and a 200-day moving average price of $7.42.

Sandstorm Gold (NYSE:SAND - Get Free Report) last posted its quarterly earnings results 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 analysts' expectations of $71.61 million. Sandstorm Gold had a net margin of 15.80% and a return on equity of 2.00%. On average, analysts expect that Sandstorm Gold Ltd will post 0.18 earnings per share 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. Stockholders of record on Tuesday, July 15th will be issued a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.81%. This is a boost from Sandstorm Gold's previous quarterly dividend of $0.01. The ex-dividend date is Tuesday, July 15th. Sandstorm Gold's payout ratio is 50.00%.

Hedge Funds Weigh In On Sandstorm Gold

Institutional investors have recently made changes to their positions in the stock. Cantor Fitzgerald L. P. acquired a new position in shares of Sandstorm Gold in the fourth quarter worth $56,000. Bank of New York Mellon Corp raised its holdings in shares of Sandstorm Gold by 21.0% in the fourth quarter. Bank of New York Mellon Corp now owns 13,897 shares of the company's stock worth $78,000 after acquiring an additional 2,416 shares during the last quarter. Fiduciary Trust Co acquired a new position in shares of Sandstorm Gold in the fourth quarter worth $86,000. Venture Visionary Partners LLC acquired a new position in shares of Sandstorm Gold in the first quarter worth $91,000. Finally, Rossby Financial LCC acquired a new position in Sandstorm Gold in the fourth quarter valued at $112,000. 51.97% of the stock is owned by institutional investors and hedge funds.

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.