Sandstorm Gold Ltd. (NYSE:SAND) Sees Large Decline in Short Interest

Sandstorm Gold Ltd. (NYSE:SAND - Get Free Report) saw a significant drop in short interest during the month of January. As of January 31st, there was short interest totalling 1,680,000 shares, a drop of 43.4% from the January 15th total of 2,970,000 shares. Approximately 0.6% of the company's shares are sold short. Based on an average daily trading volume, of 4,300,000 shares, the days-to-cover ratio is currently 0.4 days.

Sandstorm Gold Stock Down 4.1 %

Shares of SAND stock traded down $0.28 on Monday, hitting $6.38. The stock had a trading volume of 6,051,259 shares, compared to its average volume of 5,637,777. The company has a quick ratio of 2.29, a current ratio of 2.29 and a debt-to-equity ratio of 0.26. The business has a 50 day moving average price of $5.78 and a 200 day moving average price of $5.79. The company has a market cap of $1.89 billion, a PE ratio of 53.13 and a beta of 1.10. Sandstorm Gold has a one year low of $3.98 and a one year high of $6.67.

Sandstorm Gold Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Tuesday, January 21st were paid a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 1.25%. The ex-dividend date was Tuesday, January 21st. This is a positive change from Sandstorm Gold's previous quarterly dividend of $0.02. Sandstorm Gold's payout ratio is 50.00%.

Hedge Funds Weigh In On Sandstorm Gold

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Barclays PLC grew its stake in shares of Sandstorm Gold by 6.4% during the third quarter. Barclays PLC now owns 399,854 shares of the company's stock worth $2,400,000 after acquiring an additional 23,947 shares during the last quarter. FMR LLC acquired a new position in Sandstorm Gold in the third quarter valued at approximately $600,000. Intact Investment Management Inc. lifted its holdings in Sandstorm Gold by 195.0% in the third quarter. Intact Investment Management Inc. now owns 130,100 shares of the company's stock valued at $781,000 after acquiring an additional 86,000 shares during the period. Geode Capital Management LLC lifted its holdings in Sandstorm Gold by 7.5% in the third quarter. Geode Capital Management LLC now owns 125,681 shares of the company's stock valued at $757,000 after acquiring an additional 8,728 shares during the period. Finally, Louisbourg Investments Inc. lifted its holdings in Sandstorm Gold by 17.4% in the fourth quarter. Louisbourg Investments Inc. now owns 728,182 shares of the company's stock valued at $4,071,000 after acquiring an additional 108,000 shares during the period. Hedge funds and other institutional investors own 51.97% of the company's stock.

Wall Street Analyst Weigh In

SAND has been the subject of a number of analyst reports. StockNews.com downgraded Sandstorm Gold from a "buy" rating to a "hold" rating in a research report on Thursday. HC Wainwright lifted their target price on Sandstorm Gold from $11.50 to $12.00 and gave the stock a "buy" rating in a research report on Monday, November 11th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, Sandstorm Gold presently has a consensus rating of "Hold" and a consensus price target of $8.50.

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.