Millennium Management LLC Has $1.36 Million Holdings in Sandstorm Gold Ltd. (NYSE:SAND)

Millennium Management LLC reduced its stake in shares of Sandstorm Gold Ltd. (NYSE:SAND) by 66.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 244,419 shares of the company’s stock after selling 491,064 shares during the quarter. Millennium Management LLC owned 0.08% of Sandstorm Gold worth $1,364,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Cantor Fitzgerald L. P. acquired a new position in Sandstorm Gold during the 4th quarter valued at $56,000. Lifeworks Advisors LLC acquired a new position in shares of Sandstorm Gold in the 4th quarter valued at $57,000. Meixler Investment Management Ltd. acquired a new stake in shares of Sandstorm Gold during the 4th quarter valued at about $66,000. Bank of New York Mellon Corp boosted its position in shares of Sandstorm Gold by 21.0% during the 4th quarter. Bank of New York Mellon Corp now owns 13,897 shares of the company’s stock valued at $78,000 after acquiring an additional 2,416 shares in the last quarter. Finally, Fiduciary Trust Co bought a new stake in Sandstorm Gold in the fourth quarter valued at about $86,000. 51.97% of the stock is currently owned by institutional investors and hedge funds.

Sandstorm Gold Stock Performance

NYSE:SAND opened at $9.37 on Wednesday. The stock has a market capitalization of $2.75 billion, a P/E ratio of 187.34 and a beta of 0.46. The company has a current ratio of 1.95, a quick ratio of 2.29 and a debt-to-equity ratio of 0.24. Sandstorm Gold Ltd. has a 1 year low of $4.92 and a 1 year high of $9.38. The firm has a 50 day moving average of $8.22 and a 200-day moving average of $6.77.

Sandstorm Gold (NYSE:SAND) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.01). Sandstorm Gold had a net margin of 8.11% and a return on equity of 0.98%. The business had revenue of $50.10 million for the quarter, compared to analyst estimates of $71.61 million. As a group, sell-side analysts anticipate that Sandstorm Gold Ltd. will post 0.18 EPS for the current fiscal year.

Sandstorm Gold Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 25th. Investors of record on Monday, April 14th were issued a $0.014 dividend. The ex-dividend date of this dividend was Monday, April 14th. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.60%. Sandstorm Gold’s dividend payout ratio is 50.00%.

Analyst Ratings Changes

A number of research analysts have commented on SAND shares. Royal Bank of Canada raised their price target on shares of Sandstorm Gold from $6.50 to $7.00 and gave the stock an “outperform” rating in a research note on Friday, April 4th. Raymond James set a $9.75 target price on Sandstorm Gold and gave the stock an “outperform” rating in a report on Wednesday, May 7th. Wall Street Zen raised Sandstorm Gold from a “hold” rating to a “buy” rating in a research note on Wednesday, May 21st. Scotiabank upped their price target on Sandstorm Gold from $7.25 to $8.25 and gave the company a “sector perform” rating in a research report on Monday, April 14th. Finally, HC Wainwright increased their price objective on Sandstorm Gold from $11.50 to $11.75 and gave the stock a “buy” rating in a research note on Thursday, May 8th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Sandstorm Gold presently has an average rating of “Moderate Buy” and a consensus target price of $9.25.

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.