Sandstorm Gold (TSE:SSL) Hits New 52-Week High - Time to Buy?

Key Points

• Sandstorm Gold Ltd.'s stock reached a new 52-week high of C$15.45 and had a trading volume of over 3.5 million shares.
• Several analysts have downgraded the stock, with Stifel Canada changing its rating from "strong-buy" to "hold" and TD Securities moving it to "strong sell" with a price target of C$14.00.
• The company announced a quarterly dividend of $0.02, representing an annual yield of 0.5%.

Sandstorm Gold Ltd. (TSE:SSL - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as C$15.45 and last traded at C$15.45, with a volume of 3515926 shares trading hands. The stock had previously closed at C$15.03.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on SSL. TD Securities cut Sandstorm Gold from a "strong-buy" rating to a "strong sell" rating and set a C$14.00 target price for the company. in a report on Thursday, July 10th. Canaccord Genuity Group upped their target price on Sandstorm Gold from C$15.75 to C$17.00 in a report on Tuesday, June 10th. Finally, Stifel Canada cut Sandstorm Gold from a "strong-buy" rating to a "hold" rating in a report on Monday, July 21st. Two research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of C$12.70.

Sandstorm Gold Trading Up 1.7%

The company has a 50 day moving average of C$13.67 and a 200-day moving average of C$11.86. The company has a debt-to-equity ratio of 26.44, a quick ratio of 1.17 and a current ratio of 2.29. The stock has a market cap of C$4.50 billion, a price-to-earnings ratio of 127.83, a price-to-earnings-growth ratio of 0.90 and a beta of 0.57.

Sandstorm Gold Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 25th. Stockholders of record on Friday, July 25th were issued a $0.02 dividend. The ex-dividend date was Tuesday, July 15th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.5%. Sandstorm Gold's dividend payout ratio is presently 47.57%.

Sandstorm Gold Company Profile

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.