Shell Asset Management Co. grew its position in Sandstorm Gold Ltd. (NYSE:SAND – Free Report) by 13.6% during the 3rd quarter, HoldingsChannel reports. The fund owned 20,100 shares of the company’s stock after purchasing an additional 2,400 shares during the period. Shell Asset Management Co.’s holdings in Sandstorm Gold were worth $94,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. Sequoia Financial Advisors LLC bought a new position in shares of Sandstorm Gold in the third quarter worth about $47,000. Spire Wealth Management bought a new position in shares of Sandstorm Gold in the third quarter worth about $154,000. Moors & Cabot Inc. grew its holdings in shares of Sandstorm Gold by 2.9% in the third quarter. Moors & Cabot Inc. now owns 139,850 shares of the company’s stock worth $652,000 after purchasing an additional 4,000 shares during the last quarter. Versor Investments LP bought a new position in shares of Sandstorm Gold in the third quarter worth about $138,000. Finally, Money Concepts Capital Corp bought a new position in shares of Sandstorm Gold in the third quarter worth about $58,000. Hedge funds and other institutional investors own 53.88% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research analysts have recently commented on the stock. StockNews.com upgraded shares of Sandstorm Gold from a “sell” rating to a “hold” rating in a report on Friday, November 10th. HC Wainwright dropped their target price on shares of Sandstorm Gold from $13.00 to $10.75 and set a “buy” rating on the stock in a report on Tuesday, November 7th. Finally, Raymond James dropped their target price on shares of Sandstorm Gold from $8.00 to $7.75 and set an “outperform” rating on the stock in a report on Wednesday, December 13th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $9.46.
Sandstorm Gold Stock Up 1.4 %
NYSE:SAND opened at $4.46 on Tuesday. Sandstorm Gold Ltd. has a fifty-two week low of $4.27 and a fifty-two week high of $6.31. The stock has a market capitalization of $1.33 billion, a P/E ratio of 89.20 and a beta of 1.11. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.90 and a current ratio of 1.90. The company’s 50-day simple moving average is $4.80 and its 200-day simple moving average is $4.90.
Sandstorm Gold Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, January 26th. Stockholders of record on Tuesday, January 16th were issued a $0.0149 dividend. This is a boost from Sandstorm Gold’s previous quarterly dividend of $0.01. This represents a $0.06 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date was Friday, January 12th. Sandstorm Gold’s dividend payout ratio (DPR) is currently 120.00%.
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 (streams) from companies that have advanced stage development projects or operating mines. It offers upfront payments for companies to acquire a stream or royalty and receives the right to purchase a percentage of a mine's production for the life of the mine at a fixed price per unit or at a fixed percentage of the spot price.
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