Cubist Systematic Strategies LLC Sells 128,285 Shares of Sandstorm Gold Ltd. (NYSE:SAND)

Posted by Defense World Staff on Mar 8th, 2023

Cubist Systematic Strategies LLC lowered its holdings in Sandstorm Gold Ltd. (NYSE:SAND – Get Rating) by 17.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 617,776 shares of the company’s stock after selling 128,285 shares during the period. Cubist Systematic Strategies LLC owned about 0.21% of Sandstorm Gold worth $3,194,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in SAND. Acadian Asset Management LLC acquired a new stake in Sandstorm Gold in the first quarter valued at $25,000. CoreCap Advisors LLC acquired a new stake in Sandstorm Gold in the second quarter valued at $43,000. Barclays PLC lifted its stake in Sandstorm Gold by 302.5% in the third quarter. Barclays PLC now owns 9,600 shares of the company’s stock valued at $50,000 after acquiring an additional 7,215 shares during the last quarter. Beaumont Financial Partners LLC acquired a new stake in Sandstorm Gold in the third quarter valued at $52,000. Finally, Aire Advisors LLC acquired a new stake in Sandstorm Gold in the second quarter valued at $65,000. Institutional investors own 55.62% of the company’s stock.

Sandstorm Gold Price Performance

Shares of Sandstorm Gold stock opened at $4.88 on Wednesday. Sandstorm Gold Ltd. has a twelve month low of $4.51 and a twelve month high of $9.18. The company has a quick ratio of 1.24, a current ratio of 1.72 and a debt-to-equity ratio of 0.35. The company has a 50-day simple moving average of $5.46 and a two-hundred day simple moving average of $5.39. The stock has a market capitalization of $1.46 billion, a price-to-earnings ratio of 13.19 and a beta of 0.94.

Sandstorm Gold Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 27th. Shareholders of record on Tuesday, January 17th were paid a $0.0147 dividend. This is a boost from Sandstorm Gold’s previous quarterly dividend of $0.01. The ex-dividend date of this dividend was Friday, January 13th. This represents a $0.06 annualized dividend and a yield of 1.20%. Sandstorm Gold’s payout ratio is 16.22%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on SAND. TD Securities cut their price target on shares of Sandstorm Gold from C$10.00 to C$9.50 in a research note on Wednesday, November 9th. HC Wainwright restated a “buy” rating and set a $12.50 target price on shares of Sandstorm Gold in a research note on Thursday, February 23rd. Raymond James cut their target price on shares of Sandstorm Gold from $9.00 to $8.75 and set an “outperform” rating for the company in a research note on Thursday, February 23rd. Royal Bank of Canada upgraded shares of Sandstorm Gold from a “sector perform” rating to an “outperform” rating and set a $6.50 target price for the company in a research note on Thursday, March 2nd. Finally, StockNews.com cut shares of Sandstorm Gold from a “hold” rating to a “sell” rating in a research note on Saturday, January 14th. One investment analyst has rated the stock with a sell rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $9.94.

About Sandstorm Gold

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Sandstorm Gold Ltd. engages in the acquisition of gold and other metals purchase agreements and royalties. It operates through the following segments: Aurizona, Black Fox, Bracemac-McLeod, Chapada, Diavik, Fruta del Norte, Hounde, Karma, Relief Canyon, Santa Elena, Vale Royalties, Yamana Silver Stream, Other, and Corporate.