Connor Clark & Lunn Investment Management Ltd. Acquires 621,800 Shares of Sandstorm Gold Ltd. (NYSE:SAND)

Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Sandstorm Gold Ltd. (NYSE:SAND) by 76.8% during the second quarter, HoldingsChannel.com reports. The firm owned 1,431,500 shares of the company’s stock after purchasing an additional 621,800 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Sandstorm Gold were worth $11,304,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Cove Street Capital LLC acquired a new position in shares of Sandstorm Gold in the first quarter valued at $8,000,000. Renaissance Technologies LLC grew its stake in Sandstorm Gold by 22.1% during the first quarter. Renaissance Technologies LLC now owns 4,494,840 shares of the company’s stock worth $30,557,000 after buying an additional 813,840 shares in the last quarter. Van ECK Associates Corp grew its stake in Sandstorm Gold by 3.3% during the second quarter. Van ECK Associates Corp now owns 21,437,636 shares of the company’s stock worth $169,143,000 after buying an additional 678,201 shares in the last quarter. Mad River Investors acquired a new stake in Sandstorm Gold during the second quarter worth about $3,066,000. Finally, Horizon Kinetics Asset Management LLC grew its stake in Sandstorm Gold by 11.7% during the first quarter. Horizon Kinetics Asset Management LLC now owns 2,859,006 shares of the company’s stock worth $19,441,000 after buying an additional 299,548 shares in the last quarter. 40.76% of the stock is currently owned by institutional investors and hedge funds.

NYSE SAND opened at $5.92 on Friday. The company has a fifty day simple moving average of $6.78 and a 200 day simple moving average of $7.48. Sandstorm Gold Ltd. has a 12-month low of $5.91 and a 12-month high of $9.31. The company has a market cap of $1.15 billion, a P/E ratio of 39.47 and a beta of 1.01.

A number of research analysts have recently commented on SAND shares. Stifel Nicolaus dropped their target price on shares of Sandstorm Gold from C$15.40 to C$15.00 and set a “buy” rating for the company in a report on Monday, August 9th. TD Securities increased their target price on shares of Sandstorm Gold from C$12.00 to C$12.50 and gave the stock a “buy” rating in a report on Wednesday, June 30th. HC Wainwright dropped their price objective on shares of Sandstorm Gold from $14.75 to $14.00 and set a “buy” rating for the company in a report on Monday, August 9th. National Bank Financial decreased their target price on shares of Sandstorm Gold from C$13.50 to C$12.75 and set an “outperform” rating for the company in a research report on Friday, August 6th. Finally, Royal Bank of Canada set a $7.00 target price on shares of Sandstorm Gold and gave the company an “underperform” rating in a research report on Friday, August 6th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $11.75.

Sandstorm Gold Profile

Sandstorm Gold Ltd. engages in the acquisition of gold and other metals purchase agreements and royalties. It operates through the following segments: Aurizona, Bachelor Lake, Black Fox, Bracemac-McLeod, Chapada, Diavik, Hounde, Karma, Ming, Santa Elena, and Yamana Silver Stream. The company was founded by Nolan Watson and David I.

Read More: Stochastic Momentum Index (SMI)

Want to see what other hedge funds are holding SAND? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sandstorm Gold Ltd. (NYSE:SAND).

Institutional Ownership by Quarter for Sandstorm Gold (NYSE:SAND)

Receive News & Ratings for Sandstorm Gold Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sandstorm Gold and related companies with MarketBeat.com's FREE daily email newsletter.