Sandstorm Gold Ltd (SAND) Short Interest Up 48.9% in August

Sandstorm Gold Ltd (NYSEAMERICAN:SAND) saw a large growth in short interest in the month of August. As of August 31st, there was short interest totalling 3,191,477 shares, a growth of 48.9% from the August 15th total of 2,143,641 shares. Based on an average daily volume of 1,428,133 shares, the days-to-cover ratio is currently 2.2 days.

Shares of NYSEAMERICAN:SAND traded up $0.07 during trading on Wednesday, reaching $3.82. 1,305,460 shares of the company were exchanged, compared to its average volume of 1,242,664. Sandstorm Gold has a 12-month low of $3.52 and a 12-month high of $5.64.

Separately, Zacks Investment Research lowered shares of Sandstorm Gold from a “hold” rating to a “sell” rating in a research report on Tuesday, July 17th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $5.83.

Several large investors have recently modified their holdings of SAND. Van ECK Associates Corp boosted its stake in shares of Sandstorm Gold by 7.5% during the second quarter. Van ECK Associates Corp now owns 22,575,858 shares of the mining company’s stock valued at $101,591,000 after purchasing an additional 1,578,431 shares in the last quarter. Great West Life Assurance Co. Can boosted its stake in shares of Sandstorm Gold by 2.2% during the second quarter. Great West Life Assurance Co. Can now owns 10,234,357 shares of the mining company’s stock valued at $46,003,000 after purchasing an additional 220,632 shares in the last quarter. Bank of Montreal Can boosted its stake in shares of Sandstorm Gold by 11.8% during the second quarter. Bank of Montreal Can now owns 3,197,078 shares of the mining company’s stock valued at $14,386,000 after purchasing an additional 336,749 shares in the last quarter. FMR LLC boosted its stake in shares of Sandstorm Gold by 1.3% during the second quarter. FMR LLC now owns 1,880,475 shares of the mining company’s stock valued at $8,454,000 after purchasing an additional 25,000 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of Sandstorm Gold by 15.8% during the first quarter. JPMorgan Chase & Co. now owns 933,978 shares of the mining company’s stock valued at $4,446,000 after purchasing an additional 127,200 shares in the last quarter.

About Sandstorm Gold

Sandstorm Gold Ltd. operates as a gold streaming and royalty company. It has a portfolio of 174 streams and royalties in Canada, the United States, Australia, Honduras, Brazil, Peru, Chile, Argentina, Australia, Turkey, French Guiana, South Africa, Paraguay, Botswana, Sweden, Mongolia, Mexico, and Cote d'Ivoire.

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