Sandstorm Gold (TSE:SSL) Reaches New 52-Week High After Dividend Announcement

Shares of Sandstorm Gold Ltd. (TSE:SSL) reached a new 52-week high on Monday after the company announced a dividend. The stock traded as high as C$17.44 and last traded at C$17.32, with a volume of 50229 shares trading hands. The stock had previously closed at C$17.10.

The newly announced dividend which will be paid on Tuesday, October 7th. Stockholders of record on Tuesday, October 7th will be given a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend is Friday, September 26th. Sandstorm Gold’s dividend payout ratio (DPR) is currently 47.57%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Stifel Canada cut shares of Sandstorm Gold from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 21st. CIBC downgraded Sandstorm Gold from a “neutral” rating to a “tender” rating and upped their target price for the stock from C$13.50 to C$16.50 in a report on Monday, September 15th. Canaccord Genuity Group increased their target price on Sandstorm Gold from C$15.75 to C$17.00 in a research report on Tuesday, June 10th. Finally, TD Securities lowered Sandstorm Gold from a “strong-buy” rating to a “strong sell” rating and set a C$14.00 price target on the stock. in a research report on Thursday, July 10th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of C$13.75.

Sandstorm Gold Price Performance

The firm has a market capitalization of C$5.03 billion, a PE ratio of 143.08, a PEG ratio of 0.90 and a beta of 0.66. The company has a quick ratio of 1.17, a current ratio of 2.29 and a debt-to-equity ratio of 26.44. The firm’s fifty day simple moving average is C$14.99 and its 200-day simple moving average is C$12.94.

About Sandstorm Gold

Sandstorm Gold Ltd provides financing to companies engaged in gold mining through gold stream and royalty. Geographically, the company has operational footprints in North America, South & Central America, Africa, and Asia & Australia. The firm’s royalties include Hod Maden, Santa Elena, Chapada, and Cerro Moro.