Sandstorm Gold (NYSEAMERICAN:SAND) Shares Gap Up to $6.76

Sandstorm Gold Ltd (NYSEAMERICAN:SAND)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $6.93, but opened at $6.76. Sandstorm Gold shares last traded at $6.56, with a volume of 384,575 shares changing hands.

A number of equities research analysts have recently weighed in on the company. CIBC reaffirmed a “hold” rating on shares of Sandstorm Gold in a research note on Monday, July 15th. Canaccord Genuity reaffirmed a “buy” rating on shares of Sandstorm Gold in a research note on Friday, July 19th. Finally, Zacks Investment Research raised Sandstorm Gold from a “hold” rating to a “buy” rating and set a $7.25 price objective for the company in a research note on Wednesday, July 31st. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $6.63.

Sandstorm Gold (NYSEAMERICAN:SAND) last issued its quarterly earnings results 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 company had revenue of $18.17 million during the quarter, compared to analysts’ expectations of $17.00 million.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Waratah Capital Advisors Ltd. acquired a new position in Sandstorm Gold during the 1st quarter worth approximately $9,970,000. Bank of Montreal Can increased its position in Sandstorm Gold by 41.0% during the 1st quarter. Bank of Montreal Can now owns 2,425,277 shares of the mining company’s stock worth $13,291,000 after purchasing an additional 705,198 shares during the period. Two Sigma Advisers LP acquired a new position in Sandstorm Gold during the 4th quarter worth approximately $108,000. Greystone Managed Investments Inc. acquired a new position in Sandstorm Gold during the 2nd quarter worth approximately $1,893,000. Finally, American Century Companies Inc. increased its position in Sandstorm Gold by 20.6% during the 4th quarter. American Century Companies Inc. now owns 729,400 shares of the mining company’s stock worth $3,369,000 after purchasing an additional 124,700 shares during the period.

About Sandstorm Gold (NYSEAMERICAN:SAND)

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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