Sandstorm Gold (NYSEAMERICAN:SAND) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Wednesday, Zacks.com reports. The brokerage presently has a $7.25 target price on the mining company’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 12.93% from the stock’s previous close.
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 analysts have also recently issued reports about the company. Raymond James set a $6.00 target price on Sandstorm Gold and gave the company an “outperform” rating in a research report on Friday, April 5th. Canaccord Genuity reissued a “buy” rating on shares of Wheaton Precious Metals in a research report on Friday, July 19th. Finally, CIBC reissued a “hold” rating on shares of Sandstorm Gold in a research report on Monday, July 15th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Sandstorm Gold has a consensus rating of “Buy” and a consensus price target of $6.63.
Sandstorm Gold (NYSEAMERICAN:SAND) last announced its earnings results on Tuesday, May 7th. The mining company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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.
A number of institutional investors have recently bought and sold shares of the business. Great West Life Assurance Co. Can lifted its holdings in shares of Sandstorm Gold by 4.4% in the 1st 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 buying an additional 440,814 shares during the period. Deutsche Bank AG lifted its holdings in shares of Sandstorm Gold by 13.6% in the 4th quarter. Deutsche Bank AG now owns 3,394,234 shares of the mining company’s stock valued at $15,647,000 after buying an additional 405,262 shares during the period. Bank of Montreal Can lifted its holdings in shares of Sandstorm Gold by 41.0% in the 1st quarter. Bank of Montreal Can now owns 2,425,277 shares of the mining company’s stock valued at $13,291,000 after buying an additional 705,198 shares during the period. Waratah Capital Advisors Ltd. acquired a new stake in shares of Sandstorm Gold in the 1st quarter valued at approximately $9,970,000. Finally, Jennison Associates LLC acquired a new stake in shares of Sandstorm Gold in the 1st quarter valued at approximately $8,817,000.
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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