NewGen Equity Long Short Fund Makes New $9.40 Million Investment in Sandstorm Gold Ltd $SAND

NewGen Equity Long Short Fund acquired a new position in Sandstorm Gold Ltd (NYSE:SAND) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 1,000,000 shares of the company’s stock, valued at approximately $9,401,000. Sandstorm Gold makes up 5.5% of NewGen Equity Long Short Fund’s investment portfolio, making the stock its 6th biggest holding.

Several other hedge funds and other institutional investors have also bought and sold shares of SAND. Farther Finance Advisors LLC raised its stake in shares of Sandstorm Gold by 181.8% during the second quarter. Farther Finance Advisors LLC now owns 3,100 shares of the company’s stock worth $29,000 after acquiring an additional 2,000 shares in the last quarter. Venture Visionary Partners LLC purchased a new stake in shares of Sandstorm Gold in the 1st quarter valued at $91,000. Keybank National Association OH bought a new position in shares of Sandstorm Gold during the 2nd quarter valued at $102,000. Burford Brothers Inc. purchased a new position in Sandstorm Gold in the 2nd quarter worth $117,000. Finally, FORA Capital LLC bought a new stake in Sandstorm Gold in the first quarter worth $121,000. Hedge funds and other institutional investors own 51.97% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Sandstorm Gold in a research note on Tuesday, October 14th. Four research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $10.15.

Sandstorm Gold Stock Down 5.8%

Shares of NYSE SAND opened at $12.16 on Wednesday. The firm’s fifty day moving average is $12.18 and its 200 day moving average is $10.53. Sandstorm Gold Ltd has a 52 week low of $5.33 and a 52 week high of $13.09. The company has a quick ratio of 2.40, a current ratio of 2.40 and a debt-to-equity ratio of 0.22. The company has a market cap of $3.59 billion, a price-to-earnings ratio of 101.29 and a beta of 0.51.

Sandstorm Gold Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 7th. Stockholders of record on Friday, September 26th were paid a dividend of $0.02 per share. The ex-dividend date of this dividend was Friday, September 26th. This represents a $0.08 annualized dividend and a dividend yield of 0.7%. Sandstorm Gold’s payout ratio is 41.67%.

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.