Sandstorm Gold (NYSE:SAND) Given New $9.50 Price Target at CIBC

Sandstorm Gold (NYSE:SAND) had its target price upped by CIBC from $9.00 to $9.50 in a report released on Wednesday morning, Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other brokerages also recently weighed in on SAND. Scotiabank raised their price target on Sandstorm Gold from $6.25 to $6.50 and gave the company a sector perform rating in a report on Thursday, May 23rd. HC Wainwright reaffirmed a buy rating and set a $11.00 price objective on shares of Sandstorm Gold in a research report on Tuesday. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus price target of $9.04.

Sandstorm Gold Price Performance

Shares of Sandstorm Gold stock opened at $5.75 on Wednesday. The company has a quick ratio of 2.26, a current ratio of 2.26 and a debt-to-equity ratio of 0.29. The company has a market cap of $1.71 billion, a PE ratio of 71.88 and a beta of 1.13. The business has a 50 day moving average of $5.60 and a 200 day moving average of $5.13. Sandstorm Gold has a 52 week low of $3.96 and a 52 week high of $6.07.

Sandstorm Gold (NYSE:SAND) last posted its quarterly earnings data on Thursday, May 2nd. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.02). The firm had revenue of $42.81 million during the quarter, compared to the consensus estimate of $42.80 million. Sandstorm Gold had a return on equity of 1.52% and a net margin of 12.24%. As a group, equities research analysts forecast that Sandstorm Gold will post 0.08 earnings per share for the current year.

Sandstorm Gold Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Tuesday, July 16th will be paid a dividend of $0.0146 per share. This represents a $0.06 annualized dividend and a yield of 1.02%. The ex-dividend date is Tuesday, July 16th. Sandstorm Gold’s dividend payout ratio (DPR) is presently 75.01%.

Institutional Trading of Sandstorm Gold

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Sprott Inc. increased its stake in Sandstorm Gold by 6.4% in the 4th quarter. Sprott Inc. now owns 4,048,355 shares of the company’s stock worth $20,365,000 after acquiring an additional 242,554 shares during the last quarter. Helikon Investments Ltd purchased a new position in shares of Sandstorm Gold in the 1st quarter worth approximately $6,771,000. American Century Companies Inc. boosted its holdings in shares of Sandstorm Gold by 1,787.2% in the 3rd quarter. American Century Companies Inc. now owns 1,049,830 shares of the company’s stock worth $4,893,000 after purchasing an additional 994,200 shares during the period. Van ECK Associates Corp boosted its holdings in shares of Sandstorm Gold by 2.3% in the 4th quarter. Van ECK Associates Corp now owns 28,838,800 shares of the company’s stock worth $145,059,000 after purchasing an additional 657,177 shares during the period. Finally, Raymond James & Associates boosted its holdings in shares of Sandstorm Gold by 4.1% in the 4th quarter. Raymond James & Associates now owns 298,203 shares of the company’s stock worth $1,500,000 after purchasing an additional 11,752 shares during the period. Institutional investors own 51.97% of the company’s stock.

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.