CIBC Asset Management Inc Sells 3,311 Shares of Sandstorm Gold Ltd. (NYSE:SAND)

CIBC Asset Management Inc trimmed its position in shares of Sandstorm Gold Ltd. (NYSE:SAND) by 1.1% during the 3rd quarter, HoldingsChannel reports. The fund owned 303,230 shares of the company’s stock after selling 3,311 shares during the quarter. CIBC Asset Management Inc’s holdings in Sandstorm Gold were worth $1,821,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Boston Partners acquired a new position in Sandstorm Gold in the first quarter worth about $1,902,000. Squarepoint Ops LLC acquired a new stake in Sandstorm Gold in the 2nd quarter valued at $606,000. Clearbridge Investments LLC grew its position in Sandstorm Gold by 48.1% in the first 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. Dimensional Fund Advisors LP raised its stake in Sandstorm Gold by 42.2% during the second quarter. Dimensional Fund Advisors LP now owns 3,149,232 shares of the company’s stock worth $17,162,000 after acquiring an additional 935,005 shares in the last quarter. Finally, Sagil Capital LLP bought a new position in shares of Sandstorm Gold during the second quarter valued at $8,041,000. 51.97% of the stock is currently owned by institutional investors.

Sandstorm Gold Stock Up 2.1 %

NYSE SAND opened at $5.66 on Wednesday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.29 and a current ratio of 2.29. Sandstorm Gold Ltd. has a 52 week low of $3.96 and a 52 week high of $6.50. The stock has a market capitalization of $1.68 billion, a P/E ratio of 47.13 and a beta of 1.13. The stock has a fifty day moving average of $5.98 and a 200-day moving average of $5.72.

Sandstorm Gold (NYSE:SAND) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.03 by ($0.01). The business had revenue of $44.70 million for the quarter, compared to analyst estimates of $44.70 million. Sandstorm Gold had a return on equity of 2.44% and a net margin of 20.46%. On average, equities research analysts forecast that Sandstorm Gold Ltd. will post 0.09 EPS for the current year.

Sandstorm Gold Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Tuesday, October 15th were given a dividend of $0.015 per share. This is a boost from Sandstorm Gold’s previous quarterly dividend of $0.01. The ex-dividend date of this dividend was Tuesday, October 15th. This represents a $0.06 annualized dividend and a dividend yield of 1.06%. Sandstorm Gold’s payout ratio is presently 50.00%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on SAND shares. StockNews.com downgraded shares of Sandstorm Gold from a “buy” rating to a “hold” rating in a report on Thursday, November 14th. HC Wainwright increased their price target on Sandstorm Gold from $11.50 to $12.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Finally, Royal Bank of Canada cut their price objective on Sandstorm Gold from $6.50 to $6.00 and set an “outperform” rating for the company in a research report on Tuesday, September 10th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $8.35.

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.