Sandstorm Gold (NYSE:SAND) Shares Down 9.2% After Earnings Miss

Sandstorm Gold Ltd. (NYSE:SAND) shares fell 9.2% on Friday following a weaker than expected earnings announcement. The stock traded as low as $5.71 and last traded at $5.75. 6,127,367 shares traded hands during trading, an increase of 159% from the average session volume of 2,366,330 shares. The stock had previously closed at $6.33.

The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.03 by ($0.01). Sandstorm Gold had a net margin of 17.55% and a return on equity of 2.06%. The firm had revenue of $44.70 million during the quarter, compared to analyst estimates of $44.70 million.

Sandstorm Gold Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Tuesday, October 15th were paid a $0.015 dividend. This represents a $0.06 annualized dividend and a dividend yield of 1.04%. The ex-dividend date of this dividend was Tuesday, October 15th. This is an increase from Sandstorm Gold’s previous quarterly dividend of $0.01. Sandstorm Gold’s payout ratio is currently 60.01%.

Analyst Ratings Changes

Several brokerages have recently commented on SAND. HC Wainwright boosted their target price on shares of Sandstorm Gold from $11.00 to $11.50 and gave the company a “buy” rating in a research note on Monday, August 5th. StockNews.com upgraded shares of Sandstorm Gold from a “hold” rating to a “buy” rating in a research report on Friday, September 27th. Finally, Royal Bank of Canada decreased their price objective on shares of Sandstorm Gold from $6.50 to $6.00 and set an “outperform” rating on the stock in a report on Tuesday, September 10th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Sandstorm Gold presently has an average rating of “Moderate Buy” and a consensus price target of $8.25.

Institutional Investors Weigh In On Sandstorm Gold

Hedge funds have recently added to or reduced their stakes in the stock. Perritt Capital Management Inc. bought a new stake in Sandstorm Gold during the 1st quarter worth about $31,000. Allworth Financial LP bought a new position in shares of Sandstorm Gold in the 3rd quarter valued at about $60,000. Mather Group LLC. bought a new position in shares of Sandstorm Gold in the 2nd quarter valued at about $67,000. Oak Family Advisors LLC bought a new position in shares of Sandstorm Gold in the 2nd quarter valued at about $88,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Sandstorm Gold in the 2nd quarter valued at about $94,000. Institutional investors own 51.97% of the company’s stock.

Sandstorm Gold Stock Down 8.7 %

The company has a market cap of $1.72 billion, a P/E ratio of 57.51 and a beta of 1.13. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 0.27. The firm’s 50 day moving average price is $6.00 and its 200-day moving average price is $5.72.

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.