Sandstorm Gold (NYSE:SAND) Given New $6.50 Price Target at Scotiabank

Sandstorm Gold (NYSE:SAND) had its price objective upped by Scotiabank from $6.25 to $6.50 in a research report released on Thursday, Benzinga reports. Scotiabank currently has a sector perform rating on the stock.

Separately, HC Wainwright restated a buy rating and set a $11.00 target price on shares of Sandstorm Gold in a report on Monday, May 6th.

Sandstorm Gold Stock Up 0.5 %

Shares of NYSE:SAND opened at $5.80 on Thursday. The company has a 50 day moving average price of $5.45 and a two-hundred day moving average price of $4.95. The company has a market capitalization of $1.73 billion, a PE ratio of 72.51 and a beta of 1.08. Sandstorm Gold has a 52 week low of $3.96 and a 52 week high of $6.07. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.26 and a current ratio of 2.26.

Sandstorm Gold (NYSE:SAND) last posted its earnings results on Thursday, May 2nd. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.02). Sandstorm Gold had a return on equity of 1.52% and a net margin of 12.24%. The business had revenue of $42.81 million for the quarter, compared to the consensus estimate of $42.80 million. Analysts forecast that Sandstorm Gold will post 0.08 earnings per share for the current year.

Sandstorm Gold Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 26th. Shareholders of record on Tuesday, April 16th were paid a $0.0147 dividend. This represents a $0.06 annualized dividend and a yield of 1.01%. The ex-dividend date of this dividend was Monday, April 15th. Sandstorm Gold’s payout ratio is 75.01%.

Hedge Funds Weigh In On Sandstorm Gold

Several hedge funds have recently made changes to their positions in SAND. Van ECK Associates Corp grew its holdings in shares of Sandstorm Gold by 5.9% in the 1st quarter. Van ECK Associates Corp now owns 30,542,674 shares of the company’s stock valued at $160,349,000 after acquiring an additional 1,703,874 shares in the last quarter. Capital International Investors boosted 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 valued at $72,696,000 after buying an additional 434,460 shares during the last quarter. Sprott Inc. grew its stake in shares of Sandstorm Gold by 6.4% in the fourth quarter. Sprott Inc. now owns 4,048,355 shares of the company’s stock valued at $20,365,000 after buying an additional 242,554 shares in the last quarter. Helikon Investments Ltd bought a new position in shares of Sandstorm Gold in the first quarter valued at $6,771,000. Finally, EdgePoint Investment Group Inc. acquired a new stake in Sandstorm Gold in the first quarter valued at $6,537,000. 51.97% of the stock is owned by institutional investors.

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.