Sandstorm Gold Ltd (SAND) Rating Increased to Buy at Zacks Investment Research
Sandstorm Gold Ltd (NASDAQ:SAND) (TSE:SSL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday. The firm presently has a $5.25 price objective on the stock. Zacks Investment Research‘s price objective would indicate a potential upside of 13.88% from the stock’s current price.
According to Zacks, “Sandstorm Gold Ltd. is a gold streaming company engaged in providing upfront financing for gold mining companies. It focuses on completing gold purchase agreements with gold mining companies that have advanced stage development projects or operating mines. Sandstorm Gold Ltd. is headquartered in Vancouver, Canada. “
SAND has been the subject of several other research reports. Raymond James Financial, Inc. reissued an “outperform” rating and set a $6.00 price target on shares of Sandstorm Gold in a research report on Friday, July 14th. Royal Bank Of Canada raised Sandstorm Gold from a “sector perform” rating to an “outperform” rating in a report on Monday, July 10th. CIBC downgraded Sandstorm Gold from a “sector outperform” rating to a “sector perform” rating in a research report on Wednesday, June 21st. Finally, Scotiabank set a $6.00 price objective on Sandstorm Gold and gave the company an “outperform” rating in a research report on Friday, June 16th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $5.75.
Shares of Sandstorm Gold (NASDAQ:SAND) traded up 0.4360% on Wednesday, hitting $4.6301. The stock had a trading volume of 420,034 shares. Sandstorm Gold has a one year low of $3.18 and a one year high of $5.18. The stock has a market cap of $854.32 million and a PE ratio of 60.9224. The company’s 50 day moving average is $4.63 and its 200 day moving average is $4.11.
Sandstorm Gold (NASDAQ:SAND) (TSE:SSL) last released its quarterly earnings data on Thursday, August 3rd. The company reported $0.01 EPS for the quarter, hitting the consensus estimate of $0.01. The business had revenue of $16.07 million during the quarter, compared to analysts’ expectations of $18.00 million. Equities research analysts predict that Sandstorm Gold will post $0.06 EPS for the current fiscal year.
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Hedge funds and other institutional investors have recently modified their holdings of the company. OppenheimerFunds Inc. raised its position in shares of Sandstorm Gold by 181.0% in the first quarter. OppenheimerFunds Inc. now owns 1,180,000 shares of the company’s stock valued at $5,039,000 after buying an additional 760,000 shares during the last quarter. FMR LLC lifted its stake in shares of Sandstorm Gold by 5.5% during the first quarter. FMR LLC now owns 1,584,475 shares of the company’s stock valued at $6,815,000 after buying an additional 83,000 shares during the period. Cambridge Investment Research Advisors Inc. lifted its stake in shares of Sandstorm Gold by 385.6% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 90,925 shares of the company’s stock valued at $388,000 after buying an additional 72,200 shares during the period. UBS Group AG lifted its stake in shares of Sandstorm Gold by 83.3% during the first quarter. UBS Group AG now owns 32,080 shares of the company’s stock valued at $137,000 after buying an additional 14,580 shares during the period. Finally, Two Sigma Securities LLC purchased a new position in shares of Sandstorm Gold during the first quarter valued at approximately $167,000.
Sandstorm Gold Company Profile
Sandstorm Gold Ltd is a Canada-based company engaged in providing financing to mining companies. The Company focuses on acquiring gold and other metal purchase agreements (Gold Streams or Silver Streams), and royalties from companies that have advanced stage development projects or operating mines. The Company operates in the segments of Bachelor Lake, Black Fox, Chapada Santa Elena, Yamana Silver Stream, Chapada, Diavik Mine, Other Royalties, Other and Corporate.
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