Sandstorm Gold Ltd. ( SAND ) shares are trading higher on Tuesday after the company announced the early renewal of its normal course issuer bid and automatic share purchase plan.

What To Know: The renewed NCIB allows Sandstorm to repurchase up to 20 million shares, or about 7% of its outstanding public float, as part of its strategy to buy back shares when it believes they are undervalued. The TSX has approved the plan and share purchases under the new NCIB will begin on March 27, 2025.

The company also renewed its ASPP, which allows it to buy back shares even during blackout periods when it would typically be restricted from making open-market purchases. Sandstorm says it views repurchasing shares as a strategic use of capital when the stock price does not fully reflect its intrinsic value.

Since May 2024, Sandstorm has repurchased nearly 4.83 million shares under its previous NCIB at an average price of approximately CA$8.18 per share on the TSX and $5.96 on the NYSE. The new program continues this approach, giving the company flexibility to repurchase shares at market prices through various trading platforms.

SAND Price Action: Sandstorm shares are up 7.66% at $7.38 at the time of publication Tuesday, according to Benzinga Pro.

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