What is Cormark’s Forecast for Sandstorm Gold Q3 Earnings?

Sandstorm Gold Ltd. (NYSE:SAND) – Equities research analysts at Cormark issued their Q3 2024 earnings per share (EPS) estimates for Sandstorm Gold in a research note issued on Wednesday, October 23rd. Cormark analyst N. Dion anticipates that the company will post earnings of $0.03 per share for the quarter. The consensus estimate for Sandstorm Gold’s current full-year earnings is $0.09 per share.

Sandstorm Gold (NYSE:SAND) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.03 EPS for the quarter, topping 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 for the quarter, compared to analyst estimates of $40.50 million. During the same quarter in the previous year, the company posted $0.01 earnings per share.

SAND has been the topic of several other reports. HC Wainwright raised their price objective on shares of Sandstorm Gold from $11.00 to $11.50 and gave the stock a “buy” rating in a research report on Monday, August 5th. Royal Bank of Canada reduced their price objective on Sandstorm Gold from $6.50 to $6.00 and set an “outperform” rating for the company in a research note on Tuesday, September 10th. CIBC lifted their target price on Sandstorm Gold from $9.00 to $9.50 and gave the company a “neutral” rating in a research note on Wednesday, July 10th. Finally, StockNews.com raised Sandstorm Gold from a “hold” rating to a “buy” rating in a report on Friday, September 27th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $8.25.

Sandstorm Gold Stock Performance

Shares of Sandstorm Gold stock opened at $6.16 on Friday. The firm’s fifty day simple moving average is $5.89 and its 200-day simple moving average is $5.67. Sandstorm Gold has a 12 month low of $3.96 and a 12 month high of $6.50. The stock has a market capitalization of $1.83 billion, a price-to-earnings ratio of 77.25 and a beta of 1.14. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.99 and a quick ratio of 1.99.

Institutional Investors Weigh In On Sandstorm Gold

Institutional investors have recently made changes to their positions in the stock. Pullen Investment Management LLC grew its holdings in shares of Sandstorm Gold by 14.0% in the 3rd quarter. Pullen Investment Management LLC now owns 125,360 shares of the company’s stock worth $752,000 after acquiring an additional 15,384 shares during the period. Allworth Financial LP purchased a new position in shares of Sandstorm Gold in the third quarter valued at $60,000. Private Advisor Group LLC raised its stake in shares of Sandstorm Gold by 2.2% during the 3rd quarter. Private Advisor Group LLC now owns 314,963 shares of the company’s stock worth $1,890,000 after buying an additional 6,669 shares during the last quarter. Quent Capital LLC acquired a new stake in Sandstorm Gold in the 3rd quarter valued at about $183,000. Finally, Cubist Systematic Strategies LLC increased its holdings in Sandstorm Gold by 266.3% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 88,124 shares of the company’s stock valued at $479,000 after acquiring an additional 64,063 shares in the last quarter. 51.97% of the stock is currently owned by hedge funds and other institutional investors.

Sandstorm Gold Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Tuesday, October 15th were paid a $0.015 dividend. The ex-dividend date of this dividend was Tuesday, October 15th. This is an increase from Sandstorm Gold’s previous quarterly dividend of $0.01. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.97%. Sandstorm Gold’s payout ratio is 62.50%.

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.