Sandstorm Gold (NYSEAMERICAN:SAND) had its target price boosted by analysts at CIBC from $16.00 to $16.75 in a research note issued on Wednesday, The Fly reports. The firm presently has an “outperform” rating on the mining company’s stock. CIBC’s price target points to a potential upside of 74.84% from the stock’s current price.
Several other research firms have also weighed in on SAND. Canaccord Genuity reaffirmed a “hold” rating and issued a $14.00 price objective on shares of Sandstorm Gold in a research note on Wednesday, September 2nd. Stifel Nicolaus assumed coverage on Sandstorm Gold in a research note on Wednesday, June 24th. They issued a “buy” rating and a $14.60 price objective on the stock. National Bank Financial reiterated a “buy” rating and issued a $15.50 target price on shares of Sandstorm Gold in a research report on Thursday, July 23rd. Royal Bank of Canada reiterated a “buy” rating and issued a $13.00 target price on shares of Sandstorm Gold in a research report on Tuesday, August 11th. Finally, Raymond James set a $9.50 target price on Sandstorm Gold and gave the company a “market perform” rating in a research report on Tuesday, August 4th. One analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $13.48.
SAND stock traded up $0.06 during trading hours on Wednesday, hitting $9.58. 53,146 shares of the stock were exchanged, compared to its average volume of 2,575,575. Sandstorm Gold has a 12 month low of $3.32 and a 12 month high of $10.63.
Sandstorm Gold (NYSEAMERICAN:SAND) last released its earnings results on Thursday, July 30th. The mining company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.01). The firm had revenue of $18.73 million during the quarter.
Hedge funds have recently modified their holdings of the business. Invesco Ltd. boosted its position in shares of Sandstorm Gold by 41.8% during the first quarter. Invesco Ltd. now owns 3,495,807 shares of the mining company’s stock valued at $17,514,000 after buying an additional 1,031,089 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in Sandstorm Gold by 13.2% in the second quarter. Goldman Sachs Group Inc. now owns 3,442,614 shares of the mining company’s stock worth $33,118,000 after purchasing an additional 402,433 shares during the last quarter. Horizon Kinetics Asset Management LLC boosted its position in Sandstorm Gold by 6.4% in the first quarter. Horizon Kinetics Asset Management LLC now owns 2,462,470 shares of the mining company’s stock worth $12,337,000 after purchasing an additional 148,397 shares during the last quarter. Hillsdale Investment Management Inc. bought a new stake in shares of Sandstorm Gold in the first quarter valued at $8,495,000. Finally, Waratah Capital Advisors Ltd. raised its stake in shares of Sandstorm Gold by 35.9% in the second quarter. Waratah Capital Advisors Ltd. now owns 1,038,305 shares of the mining company’s stock valued at $9,927,000 after buying an additional 274,170 shares during the period.
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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