Credit Suisse AG grew its stake in Sandstorm Gold Ltd. (NYSE:SAND – Get Rating) by 7.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 338,133 shares of the company’s stock after purchasing an additional 23,278 shares during the period. Credit Suisse AG owned about 0.11% of Sandstorm Gold worth $1,748,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently made changes to their positions in SAND. Acadian Asset Management LLC acquired a new stake in Sandstorm Gold during the 1st quarter worth approximately $25,000. CoreCap Advisors LLC acquired a new stake in Sandstorm Gold during the 2nd quarter worth approximately $43,000. Barclays PLC boosted its position in Sandstorm Gold by 302.5% during the 3rd quarter. Barclays PLC now owns 9,600 shares of the company’s stock worth $50,000 after buying an additional 7,215 shares during the period. Aire Advisors LLC acquired a new stake in Sandstorm Gold during the 2nd quarter worth approximately $65,000. Finally, Credit Agricole S A acquired a new position in shares of Sandstorm Gold in the 3rd quarter worth approximately $67,000. 55.62% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of brokerages have recently issued reports on SAND. HC Wainwright restated a “buy” rating and issued a $12.50 price target on shares of Sandstorm Gold in a research report on Thursday, February 23rd. CIBC lowered their price objective on shares of Sandstorm Gold from C$12.50 to C$10.50 in a research note on Tuesday, February 7th. National Bank Financial lowered their price objective on shares of Sandstorm Gold from C$9.00 to C$8.00 in a research note on Thursday, February 23rd. TD Securities lowered their price objective on shares of Sandstorm Gold from C$10.00 to C$9.50 in a research note on Wednesday, November 9th. Finally, StockNews.com lowered shares of Sandstorm Gold from a “hold” rating to a “sell” rating in a research note on Saturday, January 14th. One research analyst has rated the stock with a sell rating and six have given a buy rating to the stock. Based on data from MarketBeat, Sandstorm Gold presently has an average rating of “Moderate Buy” and a consensus price target of $9.94.
Sandstorm Gold Price Performance
Sandstorm Gold Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 27th. Shareholders of record on Tuesday, January 17th were issued a dividend of $0.0147 per share. The ex-dividend date was Friday, January 13th. This is an increase from Sandstorm Gold’s previous quarterly dividend of $0.01. This represents a $0.06 annualized dividend and a yield of 1.14%. Sandstorm Gold’s dividend payout ratio is 16.22%.
About Sandstorm Gold
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.
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