Oppenheimer & Close LLC lifted its stake in Sandstorm Gold Ltd. (NYSE:SAND – Get Rating) by 3.4% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 224,140 shares of the company’s stock after purchasing an additional 7,450 shares during the quarter. Sandstorm Gold accounts for about 1.5% of Oppenheimer & Close LLC’s investment portfolio, making the stock its 21st largest holding. Oppenheimer & Close LLC’s holdings in Sandstorm Gold were worth $1,333,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also modified their holdings of SAND. Phoenix Holdings Ltd. acquired a new stake in Sandstorm Gold during the 1st quarter worth about $31,325,000. Van ECK Associates Corp boosted its position in Sandstorm Gold by 6.5% during the 1st quarter. Van ECK Associates Corp now owns 20,290,035 shares of the company’s stock worth $163,943,000 after acquiring an additional 1,246,469 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its position in Sandstorm Gold by 27.2% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,896,500 shares of the company’s stock worth $23,348,000 after acquiring an additional 618,900 shares during the period. Assenagon Asset Management S.A. acquired a new stake in Sandstorm Gold during the 1st quarter worth about $1,650,000. Finally, Cove Street Capital LLC boosted its position in Sandstorm Gold by 20.0% during the 1st quarter. Cove Street Capital LLC now owns 856,100 shares of the company’s stock worth $6,917,000 after acquiring an additional 142,700 shares during the period. Institutional investors and hedge funds own 41.23% of the company’s stock.
Sandstorm Gold Price Performance
Shares of SAND stock traded down $0.34 during trading on Friday, reaching $5.74. The company had a trading volume of 40,266 shares, compared to its average volume of 2,621,376. The firm’s 50 day simple moving average is $5.91 and its two-hundred day simple moving average is $6.73. Sandstorm Gold Ltd. has a one year low of $5.30 and a one year high of $9.18. The company has a market capitalization of $1.18 billion, a PE ratio of 19.00 and a beta of 0.99.
Sandstorm Gold Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, July 29th. Shareholders of record on Tuesday, July 19th were given a $0.016 dividend. This represents a $0.06 annualized dividend and a yield of 1.11%. The ex-dividend date of this dividend was Monday, July 18th. Sandstorm Gold’s dividend payout ratio is currently 18.75%.
Analyst Upgrades and Downgrades
A number of equities research analysts have commented on SAND shares. TD Securities raised their price objective on Sandstorm Gold from C$10.00 to C$10.50 in a research report on Tuesday, August 16th. Raymond James lifted their price target on Sandstorm Gold from $9.00 to $9.50 and gave the company an “outperform” rating in a report on Monday, August 15th. National Bank Financial assumed coverage on Sandstorm Gold in a report on Tuesday, August 16th. They set an “outperform” rating for the company. HC Wainwright reduced their price target on Sandstorm Gold from $14.75 to $13.25 and set a “buy” rating for the company in a report on Wednesday, August 17th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $7.50 price target (down from $8.50) on shares of Sandstorm Gold in a report on Thursday, June 23rd. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $11.08.
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 (streams) from companies that have advanced stage development projects or operating mines. It offers upfront payments for companies to acquire a stream or royalty and receives the right to purchase a percentage of a mine's production for the life of the mine at a fixed price per unit or at a fixed percentage of the spot price.
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