Bank of New York Mellon Corp Increases Stock Position in Sandstorm Gold Ltd. (NYSE:SAND)

Bank of New York Mellon Corp increased its position in Sandstorm Gold Ltd. (NYSE:SAND) by 21.0% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 13,897 shares of the company’s stock after buying an additional 2,416 shares during the period. Bank of New York Mellon Corp’s holdings in Sandstorm Gold were worth $78,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Louisbourg Investments Inc. boosted its position in Sandstorm Gold by 17.4% during the 4th quarter. Louisbourg Investments Inc. now owns 728,182 shares of the company’s stock worth $4,071,000 after purchasing an additional 108,000 shares during the period. FMR LLC acquired a new position in shares of Sandstorm Gold during the third quarter worth about $600,000. Public Employees Retirement System of Ohio purchased a new stake in shares of Sandstorm Gold in the third quarter worth about $464,000. Walleye Capital LLC grew its stake in shares of Sandstorm Gold by 285.7% in the third quarter. Walleye Capital LLC now owns 92,919 shares of the company’s stock valued at $558,000 after buying an additional 68,826 shares in the last quarter. Finally, Integrated Wealth Concepts LLC raised its holdings in shares of Sandstorm Gold by 14.9% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 521,873 shares of the company’s stock valued at $3,131,000 after buying an additional 67,759 shares during the period. Institutional investors and hedge funds own 51.97% of the company’s stock.

Sandstorm Gold Stock Performance

Sandstorm Gold stock opened at $7.58 on Monday. Sandstorm Gold Ltd. has a 52 week low of $4.92 and a 52 week high of $7.74. The company has a current ratio of 1.95, a quick ratio of 2.29 and a debt-to-equity ratio of 0.24. The stock has a market cap of $2.24 billion, a P/E ratio of 151.53 and a beta of 1.06. The stock has a 50 day moving average of $6.34 and a 200-day moving average of $6.01.

Sandstorm Gold (NYSE:SAND) last issued its quarterly earnings results on Tuesday, February 18th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.03). The company had revenue of $47.40 million for the quarter, compared to the consensus estimate of $67.49 million. Sandstorm Gold had a return on equity of 0.98% and a net margin of 8.11%. During the same period in the previous year, the business posted ($0.04) EPS. On average, analysts expect that Sandstorm Gold Ltd. will post 0.18 EPS for the current fiscal year.

Sandstorm Gold Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, April 14th will be given a dividend of $0.014 per share. This represents a $0.06 annualized dividend and a dividend yield of 0.74%. The ex-dividend date is Monday, April 14th. Sandstorm Gold’s dividend payout ratio is currently 100.00%.

Wall Street Analysts Forecast Growth

SAND has been the subject of a number of analyst reports. HC Wainwright decreased their price target on Sandstorm Gold from $12.00 to $11.50 and set a “buy” rating for the company in a report on Wednesday, February 19th. StockNews.com raised shares of Sandstorm Gold from a “hold” rating to a “buy” rating in a report on Wednesday, February 26th. Finally, Scotiabank boosted their price objective on shares of Sandstorm Gold from $6.75 to $7.25 and gave the stock a “sector perform” rating in a report on Thursday, February 27th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $8.56.

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.