Sandstorm Gold Ltd (NYSEAMERICAN:SAND) saw a large increase in short interest in the month of September. As of September 30th, there was short interest totalling 1,900,000 shares, an increase of 29.3% from the September 15th total of 1,470,000 shares. Approximately 1.0% of the shares of the company are sold short. Based on an average trading volume of 1,850,000 shares, the days-to-cover ratio is currently 1.0 days.
Sandstorm Gold stock traded up $0.01 during mid-day trading on Friday, hitting $8.42. The company’s stock had a trading volume of 1,155,992 shares, compared to its average volume of 2,427,270. Sandstorm Gold has a one year low of $3.32 and a one year high of $10.63.
Sandstorm Gold (NYSEAMERICAN:SAND) last posted its quarterly earnings results on Thursday, July 30th. The mining company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). The firm had revenue of $18.73 million during the quarter.
A number of research firms recently commented on SAND. Royal Bank of Canada reissued a “buy” rating and issued a $13.00 price target on shares of Sandstorm Gold in a report on Tuesday, August 11th. CIBC boosted their price target on Sandstorm Gold from $16.00 to $16.75 and gave the stock an “outperform” rating in a report on Wednesday, September 16th. Stifel Nicolaus began coverage on Sandstorm Gold in a report on Wednesday, June 24th. They issued a “buy” rating and a $14.60 price target on the stock. HC Wainwright started coverage on Sandstorm Gold in a report on Friday, September 25th. They issued a “buy” rating and a $14.00 price target on the stock. Finally, National Bank Financial reaffirmed a “buy” rating and set a $15.50 price objective on shares of Sandstorm Gold in a report on Thursday, July 23rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $13.59.
Several institutional investors and hedge funds have recently bought and sold shares of SAND. Assenagon Asset Management S.A. purchased a new stake in Sandstorm Gold in the second quarter valued at about $2,457,000. Jane Street Group LLC raised its stake in Sandstorm Gold by 85.3% in the first quarter. Jane Street Group LLC now owns 245,485 shares of the mining company’s stock valued at $1,230,000 after buying an additional 113,024 shares during the last quarter. Invesco Ltd. raised its stake in Sandstorm Gold by 41.8% in 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. raised its stake 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 valued at $33,118,000 after buying an additional 402,433 shares during the last quarter. Finally, Profund Advisors LLC raised its stake in Sandstorm Gold by 35.5% in the second quarter. Profund Advisors LLC now owns 21,147 shares of the mining company’s stock valued at $203,000 after buying an additional 5,537 shares during the last quarter.
Sandstorm Gold Company Profile
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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