Renaissance Technologies LLC Purchases 113,500 Shares of Sandstorm Gold Ltd. (NYSE:SAND)

Renaissance Technologies LLC boosted its holdings in shares of Sandstorm Gold Ltd. (NYSE:SAND) by 31.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 472,800 shares of the company’s stock after acquiring an additional 113,500 shares during the period. Renaissance Technologies LLC owned about 0.16% of Sandstorm Gold worth $2,572,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the business. Sprott Inc. boosted its stake in shares of Sandstorm Gold by 6.4% during the fourth quarter. Sprott Inc. now owns 4,048,355 shares of the company’s stock valued at $20,365,000 after purchasing an additional 242,554 shares in the last quarter. Boston Partners bought a new stake in Sandstorm Gold during the 1st quarter valued at $1,902,000. Clearbridge Investments LLC increased its holdings in shares of Sandstorm Gold by 48.1% in the 1st quarter. Clearbridge Investments LLC now owns 384,921 shares of the company’s stock valued at $2,021,000 after acquiring an additional 125,096 shares during the period. Helikon Investments Ltd bought a new position in shares of Sandstorm Gold in the 1st quarter worth $6,771,000. Finally, Russell Investments Group Ltd. lifted its stake in shares of Sandstorm Gold by 3.5% during the 1st quarter. Russell Investments Group Ltd. now owns 474,651 shares of the company’s stock worth $2,491,000 after purchasing an additional 15,868 shares during the last quarter. Hedge funds and other institutional investors own 51.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on SAND. HC Wainwright boosted their target price on shares of Sandstorm Gold from $11.00 to $11.50 and gave the stock a “buy” rating in a report on Monday, August 5th. StockNews.com upgraded shares of Sandstorm Gold from a “hold” rating to a “buy” rating in a research note on Friday, September 27th. Royal Bank of Canada lowered their target price on shares of Sandstorm Gold from $6.50 to $6.00 and set an “outperform” rating for the company in a research note on Tuesday, September 10th. Finally, CIBC upped their price target on Sandstorm Gold from $9.00 to $9.50 and gave the stock a “neutral” rating in a research report on Wednesday, July 10th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Sandstorm Gold currently has a consensus rating of “Moderate Buy” and a consensus price target of $8.25.

Sandstorm Gold Stock Performance

Shares of Sandstorm Gold stock opened at $6.06 on Wednesday. The firm has a market capitalization of $1.80 billion, a P/E ratio of 75.70 and a beta of 1.14. Sandstorm Gold Ltd. has a 52 week low of $3.96 and a 52 week high of $6.38. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 0.27. The company has a 50 day moving average price of $5.69 and a 200 day moving average price of $5.57.

Sandstorm Gold (NYSE:SAND) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.01. Sandstorm Gold had a net margin of 17.55% and a return on equity of 2.06%. The business had revenue of $41.37 million during the quarter, compared to analysts’ expectations of $40.50 million. During the same quarter last year, the company posted $0.01 earnings per share. Sell-side analysts expect that Sandstorm Gold Ltd. will post 0.09 EPS for the current year.

Sandstorm Gold Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Tuesday, October 15th will be paid a dividend of $0.015 per share. This represents a $0.06 annualized dividend and a yield of 0.99%. The ex-dividend date of this dividend is Tuesday, October 15th. This is an increase from Sandstorm Gold’s previous quarterly dividend of $0.01. Sandstorm Gold’s payout ratio is presently 75.01%.

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.