Sandstorm Gold (NYSE:SAND) Sets New 12-Month High – Time to Buy?

Sandstorm Gold Ltd. (NYSE:SAND) reached a new 52-week high on Tuesday . The stock traded as high as $7.25 and last traded at $7.23, with a volume of 424171 shares trading hands. The stock had previously closed at $6.85.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. StockNews.com raised shares of Sandstorm Gold from a “hold” rating to a “buy” rating in a research report on Wednesday, February 26th. Scotiabank lifted their target price on shares of Sandstorm Gold from $6.75 to $7.25 and gave the company a “sector perform” rating in a report on Thursday, February 27th. Finally, HC Wainwright dropped their price target on shares of Sandstorm Gold from $12.00 to $11.50 and set a “buy” rating on the stock in a research note on Wednesday, February 19th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Sandstorm Gold currently has an average rating of “Moderate Buy” and an average price target of $8.56.

Sandstorm Gold Price Performance

The company has a quick ratio of 2.29, a current ratio of 1.95 and a debt-to-equity ratio of 0.24. The firm’s fifty day moving average price is $6.20 and its 200 day moving average price is $5.95. The stock has a market cap of $2.17 billion, a PE ratio of 146.33 and a beta of 1.06.

Sandstorm Gold (NYSE:SAND) last issued its earnings results on Tuesday, February 18th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.03). Sandstorm Gold had a return on equity of 0.98% and a net margin of 8.11%. The firm had revenue of $47.40 million during the quarter, compared to the consensus estimate of $67.49 million. During the same period last year, the firm posted ($0.04) earnings per share. As a group, equities analysts expect that Sandstorm Gold Ltd. will post 0.18 EPS for the current fiscal year.

Hedge Funds Weigh In On Sandstorm Gold

A number of institutional investors and hedge funds have recently made changes to their positions in SAND. Cantor Fitzgerald L. P. bought a new stake in shares of Sandstorm Gold in the 4th quarter valued at approximately $56,000. Lifeworks Advisors LLC bought a new stake in Sandstorm Gold in the fourth quarter worth $57,000. Meixler Investment Management Ltd. purchased a new position in Sandstorm Gold during the fourth quarter worth $66,000. JTC Employer Solutions Trustee Ltd bought a new position in Sandstorm Gold during the fourth quarter valued at $72,000. Finally, Bank of New York Mellon Corp increased its position in Sandstorm Gold by 21.0% during the fourth quarter. Bank of New York Mellon Corp now owns 13,897 shares of the company’s stock valued at $78,000 after acquiring an additional 2,416 shares during the last quarter. 51.97% of the stock is owned by hedge funds and other institutional investors.

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.