Sandstorm Gold (NYSE:SAND) PT Lowered to $6.00

Sandstorm Gold (NYSE:SAND) had its target price cut by Royal Bank of Canada from $6.50 to $6.00 in a research report report published on Tuesday morning, BayStreet.CA reports. They currently have an outperform rating on the stock.

A number of other research analysts have also recently commented on the company. CIBC upped their target price on Sandstorm Gold from $9.00 to $9.50 and gave the company a neutral rating in a research note on Wednesday, July 10th. Scotiabank upped their price objective on Sandstorm Gold from $6.25 to $6.50 and gave the company a sector perform rating in a research report on Thursday, May 23rd. HC Wainwright increased their target price on Sandstorm Gold from $11.00 to $11.50 and gave the stock a buy rating in a research note on Monday, August 5th. Finally, StockNews.com lowered shares of Sandstorm Gold from a buy rating to a hold rating in a research note on Monday, August 26th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of $8.38.

Sandstorm Gold Stock Up 6.6 %

Shares of SAND opened at $6.02 on Tuesday. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 0.27. Sandstorm Gold has a 52-week low of $3.96 and a 52-week high of $6.07. The company has a market cap of $1.79 billion, a PE ratio of 75.20 and a beta of 1.14. The business has a fifty day moving average of $5.58 and a 200 day moving average of $5.41.

Sandstorm Gold (NYSE:SAND) last released its earnings results on Thursday, August 1st. The company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.01. The firm had revenue of $41.37 million during the quarter, compared to analyst estimates of $40.50 million. Sandstorm Gold had a net margin of 17.55% and a return on equity of 2.06%. During the same quarter last year, the business earned $0.01 EPS. On average, sell-side analysts expect that Sandstorm Gold will post 0.09 EPS for the current year.

Sandstorm Gold Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 26th. Shareholders of record on Tuesday, July 16th were issued a dividend of $0.0146 per share. The ex-dividend date of this dividend was Tuesday, July 16th. This represents a $0.06 annualized dividend and a yield of 0.97%. Sandstorm Gold’s payout ratio is currently 75.01%.

Institutional Investors Weigh In On Sandstorm Gold

Several hedge funds have recently made changes to their positions in SAND. Principal Securities Inc. bought a new stake in shares of Sandstorm Gold in the fourth quarter valued at about $25,000. Jump Financial LLC purchased a new position in Sandstorm Gold during the 4th quarter valued at about $59,000. Dynamic Technology Lab Private Ltd increased its position in Sandstorm Gold by 25.1% during the 4th quarter. Dynamic Technology Lab Private Ltd now owns 47,521 shares of the company’s stock valued at $239,000 after purchasing an additional 9,534 shares during the period. Clearbridge Investments LLC purchased a new stake in shares of Sandstorm Gold in the 4th quarter worth approximately $1,299,000. Finally, Oxford Asset Management LLP bought a new position in shares of Sandstorm Gold during the fourth quarter valued at approximately $53,000. 51.97% of the stock is currently owned by hedge funds and other institutional investors.

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.