CIBC Increases Sandstorm Gold (TSE:SSL) Price Target to C$9.25

Sandstorm Gold (TSE:SSL) had its price target increased by investment analysts at CIBC from C$8.50 to C$9.25 in a note issued to investors on Wednesday, BayStreet.CA reports. CIBC’s target price suggests a potential upside of 9.99% from the company’s previous close.

Several other research firms have also weighed in on SSL. National Bank Financial upped 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 note on Tuesday. TD Securities upped 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 note on Wednesday. Finally, Canaccord Genuity upped their price objective on shares of Sandstorm Gold from C$9.50 to C$10.50 in a research note on Friday, July 19th.

Shares of TSE:SSL traded up C$0.03 during mid-day trading on Wednesday, hitting C$8.41. The stock had a trading volume of 351,415 shares, compared to its average volume of 543,141. 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 capitalization of $1.54 billion and a P/E ratio of 220.53. Sandstorm Gold has a 12-month low of C$4.60 and a 12-month high of C$9.21. The firm’s 50 day simple moving average is C$7.97.

In other Sandstorm Gold news, Director Nolan Allan Watson sold 373,500 shares of the company’s stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of C$7.00, for a total value of C$2,614,500.00. Following the transaction, the director now owns 707,790 shares in the company, valued at approximately C$4,954,530. Also, Director David E. De Witt sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of C$7.45, for a total transaction of C$74,500.00. Following the completion of the transaction, the director now owns 915,585 shares in the company, valued at approximately C$6,821,108.25.

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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