Sandstorm Gold (TSE:SSL) Hits New 1-Year High Following Dividend Announcement

Key Points

• Sandstorm Gold Ltd. shares reached a new 52-week high of C$17.44 following the announcement of a $0.02 per share dividend, set to be paid on October 7th.
• The company has recently seen a mix of analyst ratings, with significant downgrades by TD Securities and Stifel Canada, while CIBC and Canaccord Genuity have raised their price targets for the stock.
• Sandstorm Gold's market capitalization is approximately C$5.08 billion, and it has a current ratio of 2.29, indicating healthy liquidity.

Sandstorm Gold Ltd. (TSE:SSL - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Monday after the company announced a dividend. The stock traded as high as C$17.44 and last traded at C$17.32, with a volume of 50229 shares. The stock had previously closed at C$17.10.The newly announced dividend which will be paid on Tuesday, October 7th. Stockholders of record on Tuesday, October 7th will be paid a dividend of $0.02 per share. The ex-dividend date of this dividend is Friday, September 26th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.5%. Sandstorm Gold's dividend payout ratio (DPR) is 47.57%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on SSL. TD Securities lowered Sandstorm Gold from a "strong-buy" rating to a "strong sell" rating and set a C$14.00 price objective on the stock. in a report 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. CIBC downgraded Sandstorm Gold from a "neutral" rating to a "tender" rating and lifted their price objective for the company from C$13.50 to C$16.50 in a research report on Monday, September 15th. Finally, Canaccord Genuity Group lifted their price objective on Sandstorm Gold from C$15.75 to C$17.00 in a research report on Tuesday, June 10th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Sandstorm Gold presently has a consensus rating of "Hold" and an average price target of C$13.75.

Sandstorm Gold Stock Up 1.3%

The company has a debt-to-equity ratio of 26.44, a current ratio of 2.29 and a quick ratio of 1.17. The company has a market capitalization of C$5.08 billion, a price-to-earnings ratio of 144.33, a PEG ratio of 0.90 and a beta of 0.66. The firm has a 50-day moving average price of C$14.91 and a two-hundred day moving average price of C$12.89.

About Sandstorm Gold

Sandstorm Gold Ltd provides financing to companies engaged in gold mining through gold stream and royalty. Geographically, the company has operational footprints in North America, South & Central America, Africa, and Asia & Australia. The firm's royalties include Hod Maden, Santa Elena, Chapada, and Cerro Moro.

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