Cormark Analysts Boost Earnings Estimates for Sandstorm Gold Ltd. (NYSE:SAND)

Sandstorm Gold Ltd. (NYSE:SAND) – Research analysts at Cormark raised their FY2024 earnings per share estimates for Sandstorm Gold in a research report issued to clients and investors on Monday, May 6th. Cormark analyst N. Dion now expects that the company will earn $0.10 per share for the year, up from their prior forecast of $0.08. The consensus estimate for Sandstorm Gold’s current full-year earnings is $0.09 per share.

SAND has been the subject of a number of other research reports. Scotiabank cut their price target on Sandstorm Gold from $6.50 to $6.25 and set a “sector perform” rating for the company in a research note on Thursday, April 18th. HC Wainwright reaffirmed a “buy” rating and set a $11.00 target price on shares of Sandstorm Gold in a research report on Monday.

Sandstorm Gold Trading Up 2.3 %

NYSE:SAND opened at $5.73 on Thursday. 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 has a one year low of $3.96 and a one year high of $6.05. The company has a market cap of $1.71 billion, a PE ratio of 71.38 and a beta of 1.08. The firm has a 50-day moving average of $5.18 and a 200-day moving average of $4.86.

Sandstorm Gold (NYSE:SAND) last announced its quarterly earnings results on Thursday, February 15th. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.06. Sandstorm Gold had a net margin of 12.24% and a return on equity of 1.52%. The business had revenue of $44.50 million during the quarter, compared to analyst estimates of $46.30 million.

Sandstorm Gold Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 26th. Shareholders of record on Tuesday, April 16th were given a $0.0147 dividend. This represents a $0.06 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date of this dividend was Monday, April 15th. Sandstorm Gold’s payout ratio is 37.50%.

Hedge Funds Weigh In On Sandstorm Gold

Several institutional investors have recently modified their holdings of the business. Van ECK Associates Corp increased its holdings in Sandstorm Gold by 5.9% during the first quarter. Van ECK Associates Corp now owns 30,542,674 shares of the company’s stock worth $160,349,000 after buying an additional 1,703,874 shares during the last quarter. Helikon Investments Ltd bought a new position in shares of Sandstorm Gold during the 1st quarter valued at approximately $6,771,000. American Century Companies Inc. increased its stake in shares of Sandstorm Gold by 1,787.2% during the 3rd quarter. American Century Companies Inc. now owns 1,049,830 shares of the company’s stock worth $4,893,000 after purchasing an additional 994,200 shares during the last quarter. Capital International Investors raised its holdings in shares of Sandstorm Gold by 3.1% in the 4th quarter. Capital International Investors now owns 14,452,440 shares of the company’s stock worth $72,696,000 after purchasing an additional 434,460 shares during the period. Finally, Hosking Partners LLP purchased a new position in Sandstorm Gold in the first quarter valued at approximately $2,142,000. 51.97% of the stock is owned by institutional investors.

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.