Bank of New York Mellon Corp Purchases 6,092 Shares of Sandstorm Gold Ltd (NYSE:SAND)

Bank of New York Mellon Corp increased its position in Sandstorm Gold Ltd (NYSE:SAND) by 43.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 19,989 shares of the company’s stock after purchasing an additional 6,092 shares during the quarter. Bank of New York Mellon Corp’s holdings in Sandstorm Gold were worth $151,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cantor Fitzgerald L. P. bought a new position in shares of Sandstorm Gold during the fourth quarter valued at $56,000. Fiduciary Trust Co acquired a new stake in shares of Sandstorm Gold in the fourth quarter valued at $86,000. United Advisor Group LLC acquired a new stake in shares of Sandstorm Gold in the first quarter valued at $118,000. Rossby Financial LCC acquired a new stake in shares of Sandstorm Gold in the fourth quarter valued at $112,000. Finally, Commonwealth Equity Services LLC increased its stake in shares of Sandstorm Gold by 28.5% in the fourth quarter. Commonwealth Equity Services LLC now owns 21,736 shares of the company’s stock valued at $121,000 after buying an additional 4,817 shares in the last quarter. 51.97% of the stock is owned by institutional investors.

Sandstorm Gold Stock Up 2.1%

SAND stock opened at $9.85 on Wednesday. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.24. The business’s 50 day simple moving average is $9.42 and its 200 day simple moving average is $7.96. Sandstorm Gold Ltd has a 1-year low of $5.03 and a 1-year high of $10.44. The firm has a market capitalization of $2.89 billion, a PE ratio of 98.51 and a beta of 0.47.

Sandstorm Gold (NYSE:SAND) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.01). The firm had revenue of $50.10 million during the quarter, compared to analyst estimates of $71.61 million. Sandstorm Gold had a net margin of 15.80% and a return on equity of 2.00%. As a group, research analysts anticipate that Sandstorm Gold Ltd will post 0.18 EPS for the current year.

Sandstorm Gold Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 25th. Investors of record on Tuesday, July 15th were given a dividend of $0.02 per share. The ex-dividend date was Tuesday, July 15th. This represents a $0.08 annualized dividend and a dividend yield of 0.8%. This is an increase from Sandstorm Gold’s previous quarterly dividend of $0.01. Sandstorm Gold’s dividend payout ratio is currently 60.00%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on SAND. Stifel Canada lowered Sandstorm Gold from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 21st. Raymond James Financial set a $9.75 target price on Sandstorm Gold and gave the company an “outperform” rating in a research note on Wednesday, May 7th. HC Wainwright raised their target price on Sandstorm Gold from $11.50 to $11.75 and gave the company a “buy” rating in a research note on Thursday, May 8th. National Bankshares restated an “outperform” rating on shares of Sandstorm Gold in a research note on Tuesday, June 24th. Finally, TD Securities lowered Sandstorm Gold from a “buy” rating to a “sell” rating and set a $14.00 target price for the company. in a research note on Thursday, July 10th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $10.15.

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.