Millennium Management LLC Sells 227,093 Shares of Sandstorm Gold Ltd. (NYSE:SAND)

Millennium Management LLC lowered its stake in shares of Sandstorm Gold Ltd. (NYSE:SAND) by 27.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 595,507 shares of the company’s stock after selling 227,093 shares during the quarter. Millennium Management LLC’s holdings in Sandstorm Gold were worth $3,240,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Perritt Capital Management Inc. acquired a new position in shares of Sandstorm Gold during the 1st quarter worth approximately $31,000. Creekmur Asset Management LLC purchased a new position in shares of Sandstorm Gold in the 4th quarter valued at about $39,000. Mather Group LLC. purchased a new position in shares of Sandstorm Gold in the 2nd quarter valued at about $67,000. Oak Family Advisors LLC purchased a new stake in Sandstorm Gold during the second quarter worth approximately $88,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Sandstorm Gold during the second quarter worth approximately $94,000. Institutional investors and hedge funds own 51.97% of the company’s stock.

Sandstorm Gold Stock Performance

SAND stock opened at $5.91 on Tuesday. The business’s fifty day moving average is $5.75 and its 200-day moving average is $5.63. 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 market cap of $1.76 billion, a P/E ratio of 73.81 and a beta of 1.14. Sandstorm Gold Ltd. has a twelve month low of $3.96 and a twelve month high of $6.38.

Sandstorm Gold (NYSE:SAND) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.03 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.01. Sandstorm Gold had a return on equity of 2.06% and a net margin of 17.55%. The company 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 earned $0.01 EPS. Equities research analysts forecast that Sandstorm Gold Ltd. will post 0.09 EPS for the current year.

Sandstorm Gold Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Tuesday, October 15th will be given a dividend of $0.015 per share. This is an increase from Sandstorm Gold’s previous quarterly dividend of $0.01. This represents a $0.06 annualized dividend and a yield of 1.02%. The ex-dividend date is Tuesday, October 15th. Sandstorm Gold’s payout ratio is currently 62.50%.

Wall Street Analyst Weigh In

Several research analysts have commented on SAND shares. Royal Bank of Canada cut their price target on Sandstorm Gold from $6.50 to $6.00 and set an “outperform” rating on the stock in a research report on Tuesday, September 10th. HC Wainwright increased their target price on Sandstorm Gold from $11.00 to $11.50 and gave the stock a “buy” rating in a research report on Monday, August 5th. StockNews.com upgraded Sandstorm Gold from a “hold” rating to a “buy” rating in a research note on Friday, September 27th. Finally, CIBC lifted their target price 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 equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Sandstorm Gold presently has an average rating of “Moderate Buy” and a consensus price target of $8.25.

Sandstorm Gold 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.