Zacks Investment Research upgraded shares of Sandstorm Gold (NYSEAMERICAN:SAND) from a hold rating to a buy rating in a report issued on Wednesday, Zacks.com reports. Zacks Investment Research currently has $6.75 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. “
A number of other brokerages also recently commented on SAND. TheStreet raised Sandstorm Gold from a c+ rating to a b rating in a research report on Wednesday, August 21st. CIBC reissued a hold rating on shares of Sandstorm Gold in a research report on Monday, July 15th. Finally, Canaccord Genuity reissued a buy rating on shares of Sandstorm Gold in a research report on Friday, August 23rd. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Sandstorm Gold has an average rating of Buy and an average price target of $6.38.
Sandstorm Gold (NYSEAMERICAN:SAND) last issued its quarterly earnings results on Monday, August 12th. The mining company reported $0.01 EPS for the quarter, missing the Zacks’ consensus estimate of $0.02 by ($0.01). The company had revenue of $21.49 million during the quarter, compared to the consensus estimate of $23.00 million.
A number of large investors have recently added to or reduced their stakes in SAND. Epstein & White Financial LLC purchased a new position in shares of Sandstorm Gold in the second quarter valued at $55,000. Zacks Investment Management grew its position in shares of Sandstorm Gold by 20.7% in the second quarter. Zacks Investment Management now owns 18,776 shares of the mining company’s stock valued at $104,000 after purchasing an additional 3,216 shares in the last quarter. FNY Investment Advisers LLC purchased a new position in shares of Sandstorm Gold in the second quarter valued at $109,000. Koshinski Asset Management Inc. grew its position in shares of Sandstorm Gold by 17.3% in the second quarter. Koshinski Asset Management Inc. now owns 22,415 shares of the mining company’s stock valued at $124,000 after purchasing an additional 3,300 shares in the last quarter. Finally, Winmill & CO. Inc. purchased a new position in shares of Sandstorm Gold in the third quarter valued at $152,000.
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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