Sandstorm Gold (NYSE:SAND) Price Target Raised to $7.00

Sandstorm Gold (NYSE:SAND) had its price target raised by Royal Bank of Canada from $6.50 to $7.00 in a report published on Friday,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

Several other research firms also recently issued reports on SAND. Scotiabank lifted their price target on shares of Sandstorm Gold from $6.75 to $7.25 and gave the stock a “sector perform” rating in a research note on Thursday, February 27th. StockNews.com raised Sandstorm Gold from a “hold” rating to a “buy” rating in a report on Wednesday, February 26th. Finally, HC Wainwright cut their target price on Sandstorm Gold from $12.00 to $11.50 and set a “buy” rating on the stock in a research report on Wednesday, February 19th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $8.81.

Sandstorm Gold Stock Performance

Shares of NYSE:SAND opened at $6.99 on Friday. The business has a 50-day moving average of $6.51 and a two-hundred day moving average of $6.05. The firm has a market capitalization of $2.07 billion, a PE ratio of 139.73 and a beta of 0.90. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.95 and a quick ratio of 2.29. Sandstorm Gold has a 12 month low of $4.92 and a 12 month high of $7.74.

Sandstorm Gold (NYSE:SAND) last released its quarterly earnings data on Tuesday, February 18th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.03). The business had revenue of $47.40 million for the quarter, compared to analysts’ expectations of $67.49 million. Sandstorm Gold had a return on equity of 0.98% and a net margin of 8.11%. During the same quarter in the prior year, the firm earned ($0.04) earnings per share. As a group, research analysts forecast that Sandstorm Gold will post 0.18 earnings per share for the current year.

Sandstorm Gold Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, April 14th will be paid a dividend of $0.014 per share. The ex-dividend date is Monday, April 14th. This represents a $0.06 annualized dividend and a yield of 0.80%. Sandstorm Gold’s dividend payout ratio (DPR) is 100.00%.

Hedge Funds Weigh In On Sandstorm Gold

Several institutional investors have recently made changes to their positions in the stock. Cantor Fitzgerald L. P. bought a new stake in Sandstorm Gold in the fourth quarter valued at $56,000. Lifeworks Advisors LLC acquired a new stake in shares of Sandstorm Gold in the fourth quarter valued at approximately $57,000. Meixler Investment Management Ltd. bought a new stake in shares of Sandstorm Gold during the fourth quarter valued at approximately $66,000. JTC Employer Solutions Trustee Ltd bought a new position in Sandstorm Gold in the 4th quarter worth approximately $72,000. Finally, Bank of New York Mellon Corp increased its position in Sandstorm Gold by 21.0% in the 4th quarter. Bank of New York Mellon Corp now owns 13,897 shares of the company’s stock valued at $78,000 after acquiring an additional 2,416 shares during the period. 51.97% of the stock is owned by institutional investors.

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.