Sandstorm Gold (NYSE:SAND) Hits New 1-Year High - Here's Why

Sandstorm Gold Ltd. (NYSE:SAND - Get Free Report)'s stock price hit a new 52-week high on Friday . The stock traded as high as $7.78 and last traded at $7.62, with a volume of 5886753 shares traded. The stock had previously closed at $7.23.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Scotiabank raised their target price on shares of Sandstorm Gold from $7.25 to $8.25 and gave the company a "sector perform" rating in a research note on Monday. HC Wainwright dropped their target price on shares of Sandstorm Gold from $12.00 to $11.50 and set a "buy" rating for the company in a research report on Wednesday, February 19th. Royal Bank of Canada raised their price target on Sandstorm Gold from $6.50 to $7.00 and gave the stock an "outperform" rating in a research report on Friday, April 4th. Raymond James reiterated an "outperform" rating on shares of Sandstorm Gold in a report on Friday, April 4th. Finally, StockNews.com upgraded Sandstorm Gold from a "hold" rating to a "buy" rating in a report on Wednesday, February 26th. Two equities research 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.com, the company has a consensus rating of "Moderate Buy" and an average target price of $9.06.

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Sandstorm Gold Trading Up 3.9 %

The stock has a market capitalization of $2.49 billion, a price-to-earnings ratio of 168.33 and a beta of 0.90. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.95 and a quick ratio of 2.29. The business has a 50 day simple moving average of $6.73 and a 200-day simple moving average of $6.12.

Sandstorm Gold (NYSE:SAND - Get Free Report) last released its earnings results on Tuesday, February 18th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.04 by ($0.03). The firm had revenue of $47.40 million for the quarter, compared to the consensus estimate of $67.49 million. Sandstorm Gold had a return on equity of 0.98% and a net margin of 8.11%. During the same quarter last year, the company posted ($0.04) EPS. As a group, equities analysts expect that Sandstorm Gold Ltd. will post 0.18 earnings per share for the current year.

Sandstorm Gold Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, April 14th will be given a $0.014 dividend. This represents a $0.06 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date is Monday, April 14th. Sandstorm Gold's dividend payout ratio is presently 100.00%.

Hedge Funds Weigh In On Sandstorm Gold

Hedge funds have recently made changes to their positions in the business. Cantor Fitzgerald L. P. acquired a new position in Sandstorm Gold during the fourth quarter worth $56,000. Lifeworks Advisors LLC acquired a new position in shares of Sandstorm Gold during the 4th quarter worth about $57,000. Meixler Investment Management Ltd. bought a new position in shares of Sandstorm Gold in the 4th quarter valued at about $66,000. JTC Employer Solutions Trustee Ltd acquired a new stake in shares of Sandstorm Gold in the fourth quarter valued at about $72,000. Finally, Bank of New York Mellon Corp raised its holdings in Sandstorm Gold by 21.0% during the fourth quarter. Bank of New York Mellon Corp now owns 13,897 shares of the company's stock worth $78,000 after acquiring an additional 2,416 shares in the last quarter. 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.