Shell Asset Management Co. lowered its stake in Sandstorm Gold Ltd. (NYSE:SAND – Get Rating) by 12.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,900 shares of the company’s stock after selling 2,500 shares during the period. Shell Asset Management Co.’s holdings in Sandstorm Gold were worth $93,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Van ECK Associates Corp lifted its position in shares of Sandstorm Gold by 40.7% in the third quarter. Van ECK Associates Corp now owns 28,742,265 shares of the company’s stock worth $148,598,000 after buying an additional 8,319,993 shares during the last quarter. Ontario Teachers Pension Plan Board bought a new position in shares of Sandstorm Gold in the third quarter worth about $34,885,000. Great West Life Assurance Co. Can bought a new position in shares of Sandstorm Gold in the third quarter worth about $32,134,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in shares of Sandstorm Gold by 12.0% in the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 3,093,595 shares of the company’s stock worth $15,992,000 after purchasing an additional 331,369 shares during the period. Finally, Renaissance Technologies LLC increased its stake in shares of Sandstorm Gold by 18.4% in the second quarter. Renaissance Technologies LLC now owns 2,993,500 shares of the company’s stock worth $17,806,000 after purchasing an additional 464,400 shares during the period. Institutional investors and hedge funds own 55.62% of the company’s stock.
Wall Street Analyst Weigh In
SAND has been the topic of a number of recent analyst reports. HC Wainwright reiterated a “buy” rating and issued a $12.50 price objective on shares of Sandstorm Gold in a research note on Thursday, February 23rd. Raymond James dropped their price objective on Sandstorm Gold from $9.00 to $8.75 and set an “outperform” rating on the stock in a research note on Thursday, February 23rd. TD Securities lowered their price target on Sandstorm Gold from C$10.00 to C$9.50 in a research note on Wednesday, November 9th. StockNews.com lowered Sandstorm Gold from a “hold” rating to a “sell” rating in a research note on Saturday, January 14th. Finally, Royal Bank of Canada upgraded Sandstorm Gold from a “sector perform” rating to an “outperform” rating and set a $6.50 price target on the stock in a research note on Thursday. One analyst has rated the stock with a sell rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Sandstorm Gold currently has a consensus rating of “Moderate Buy” and a consensus price target of $9.94.
Sandstorm Gold Trading Up 4.0 %
Sandstorm Gold Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, January 27th. Stockholders of record on Tuesday, January 17th were paid a $0.0147 dividend. This is a positive change from Sandstorm Gold’s previous quarterly dividend of $0.01. This represents a $0.06 annualized dividend and a dividend yield of 1.12%. The ex-dividend date of this dividend was Friday, January 13th. Sandstorm Gold’s dividend payout ratio is currently 16.22%.
Sandstorm Gold Company Profile
Sandstorm Gold Ltd. engages in the acquisition of gold and other metals purchase agreements and royalties. It operates through the following segments: Aurizona, Black Fox, Bracemac-McLeod, Chapada, Diavik, Fruta del Norte, Hounde, Karma, Relief Canyon, Santa Elena, Vale Royalties, Yamana Silver Stream, Other, and Corporate.
- Get a free copy of the StockNews.com research report on Sandstorm Gold (SAND)
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