Sandstorm Gold (TSE:SSL) had its price target hoisted by research analysts at Raymond James from C$6.25 to C$6.75 in a note issued to investors on Wednesday, BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. Raymond James’ target price suggests a potential downside of 19.74% from the company’s previous close. Raymond James also issued estimates for Sandstorm Gold’s Q3 2020 earnings at $0.04 EPS, Q4 2020 earnings at $0.04 EPS and FY2020 earnings at $0.11 EPS.
Other equities analysts have also issued reports about the stock. Canaccord Genuity lifted their price objective on shares of Sandstorm Gold from C$9.50 to C$10.50 in a research report on Friday, July 19th. CIBC lifted their price objective on shares of Sandstorm Gold from C$8.50 to C$9.25 in a research report on Wednesday. TD Securities lifted their price objective on shares of Sandstorm Gold from C$9.50 to C$10.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, National Bank Financial lifted their price objective on shares of Sandstorm Gold from C$9.25 to C$10.50 and gave the company an “outperform” rating in a research report on Tuesday.
TSE:SSL traded up C$0.03 during midday trading on Wednesday, reaching C$8.41. The stock had a trading volume of 351,415 shares, compared to its average volume of 543,141. The business’s fifty day simple moving average is C$7.97. Sandstorm Gold has a 12-month low of C$4.60 and a 12-month high of C$9.21. The company has a current ratio of 5.54, a quick ratio of 4.86 and a debt-to-equity ratio of 8.34. The stock has a market cap of $1.54 billion and a PE ratio of 220.53.
In related news, Director David E. De Witt sold 10,000 shares of Sandstorm Gold stock in a transaction on Thursday, June 20th. The shares were sold at an average price of C$7.45, for a total value of C$74,500.00. Following the transaction, the director now directly owns 915,585 shares in the company, valued at approximately C$6,821,108.25. Also, Director Nolan Allan Watson sold 373,500 shares of the business’s stock in a transaction on Friday, May 17th. The stock was sold at an average price of C$7.00, for a total transaction of C$2,614,500.00. Following the sale, the director now owns 707,790 shares in the company, valued at C$4,954,530.
About Sandstorm Gold
Sandstorm Gold Ltd. operates as a gold royalty company. It focuses on acquiring gold and other metal purchase agreements and royalties from companies that have advanced stage development projects or operating mines. The company offers upfront payments for companies to acquire a gold stream or royalty and receives the right to purchase a percentage of a mine's production for the life of the mine at a fixed price per unit or at a fixed percentage of the spot price.
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