CIBC Asset Management Inc Raises Stock Holdings in Sandstorm Gold Ltd. (NYSE:SAND)

CIBC Asset Management Inc increased its stake in shares of Sandstorm Gold Ltd. (NYSE:SAND) by 3.0% in the fourth quarter, HoldingsChannel reports. The firm owned 241,052 shares of the company’s stock after buying an additional 7,008 shares during the period. CIBC Asset Management Inc’s holdings in Sandstorm Gold were worth $1,215,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Bank of New York Mellon Corp raised its stake in Sandstorm Gold by 20.8% in the third quarter. Bank of New York Mellon Corp now owns 18,103 shares of the company’s stock valued at $84,000 after buying an additional 3,115 shares during the last quarter. Spire Wealth Management purchased a new stake in Sandstorm Gold in the third quarter valued at about $154,000. Sequoia Financial Advisors LLC purchased a new stake in Sandstorm Gold in the third quarter valued at about $47,000. Shell Asset Management Co. raised its stake in Sandstorm Gold by 13.6% in the third quarter. Shell Asset Management Co. now owns 20,100 shares of the company’s stock valued at $94,000 after buying an additional 2,400 shares during the last quarter. Finally, HighTower Advisors LLC increased its holdings in shares of Sandstorm Gold by 8.1% in the third quarter. HighTower Advisors LLC now owns 57,741 shares of the company’s stock valued at $265,000 after purchasing an additional 4,324 shares during the period. 51.97% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on SAND. Scotiabank increased their price objective on Sandstorm Gold from $6.25 to $6.50 and gave the company a “sector perform” rating in a report on Thursday, May 23rd. HC Wainwright reaffirmed a “buy” rating and set a $11.00 target price on shares of Sandstorm Gold in a report on Monday, May 6th.

Sandstorm Gold Stock Performance

NYSE SAND opened at $5.35 on Friday. The company has a market cap of $1.59 billion, a PE ratio of 66.88 and a beta of 1.12. The stock’s 50 day simple moving average is $5.57 and its 200-day simple moving average is $5.02. Sandstorm Gold Ltd. has a 1-year low of $3.96 and a 1-year high of $6.07. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.26 and a quick ratio of 2.26.

Sandstorm Gold (NYSE:SAND) last released its earnings results on Thursday, May 2nd. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.02). The firm had revenue of $42.81 million during the quarter, compared to analysts’ expectations of $42.80 million. Sandstorm Gold had a net margin of 12.24% and a return on equity of 1.52%. As a group, equities research analysts anticipate that Sandstorm Gold Ltd. will post 0.08 EPS for the current fiscal year.

Sandstorm Gold Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 26th. Investors of record on Tuesday, April 16th were given a dividend of $0.0147 per share. The ex-dividend date of this dividend was Monday, April 15th. This represents a $0.06 dividend on an annualized basis and a yield of 1.10%. Sandstorm Gold’s payout ratio is 75.01%.

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.