Zacks Investment Research upgraded shares of Sandstorm Gold (NYSEAMERICAN:SAND) from a hold rating to a buy rating in a report released on Wednesday morning, Zacks.com reports. They currently have $7.25 price target on the mining company’s stock.
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. “
Other research analysts have also recently issued reports about the stock. Raymond James set a $6.00 target price on shares of Sandstorm Gold and gave the stock an outperform rating in a report on Friday, April 5th. CIBC reiterated a hold rating on shares of Sandstorm Gold in a report on Monday, July 15th. Finally, Canaccord Genuity reiterated a buy rating on shares of Sandstorm Gold in a report on Friday, July 19th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus target price of $6.63.
Sandstorm Gold (NYSEAMERICAN:SAND) last announced its quarterly earnings data on Tuesday, May 7th. The mining company reported $0.01 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by ($0.01). The firm had revenue of $18.17 million for the quarter, compared to the consensus estimate of $17.00 million.
Several hedge funds have recently bought and sold shares of SAND. Waratah Capital Advisors Ltd. acquired a new stake in shares of Sandstorm Gold during the first quarter worth approximately $9,970,000. Jennison Associates LLC bought a new position in Sandstorm Gold during the first quarter valued at approximately $8,817,000. Bank of Montreal Can raised its position in Sandstorm Gold by 41.0% during the first quarter. Bank of Montreal Can now owns 2,425,277 shares of the mining company’s stock valued at $13,291,000 after acquiring an additional 705,198 shares in the last quarter. Great West Life Assurance Co. Can raised its position in Sandstorm Gold by 4.4% during the first quarter. Great West Life Assurance Co. Can now owns 10,476,636 shares of the mining company’s stock valued at $57,057,000 after acquiring an additional 440,814 shares in the last quarter. Finally, Deutsche Bank AG raised its position in Sandstorm Gold by 13.6% during the fourth quarter. Deutsche Bank AG now owns 3,394,234 shares of the mining company’s stock valued at $15,647,000 after acquiring an additional 405,262 shares in 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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