Sandstorm Gold (NYSE:SAND) Price Target Cut to $6.25 by Analysts at Scotiabank

Sandstorm Gold (NYSE:SAND) had its price objective dropped by investment analysts at Scotiabank from $6.50 to $6.25 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm presently has a “sector perform” rating on the stock. Scotiabank’s price target would suggest a potential upside of 14.89% from the company’s current price.

Sandstorm Gold Stock Performance

NYSE SAND traded up $0.03 on Thursday, reaching $5.44. 276,152 shares of the stock were exchanged, compared to its average volume of 2,410,287. The firm has a market capitalization of $1.62 billion, a PE ratio of 38.57 and a beta of 1.10. Sandstorm Gold has a one year low of $3.96 and a one year high of $6.24. The company’s 50-day simple moving average is $4.78 and its two-hundred day simple moving average is $4.77. The company has a current ratio of 3.32, a quick ratio of 3.32 and a debt-to-equity ratio of 0.30.

Sandstorm Gold (NYSE:SAND) last released its earnings results on Thursday, February 15th. The company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.06. Sandstorm Gold had a net margin of 23.22% and a return on equity of 2.89%. The company had revenue of $44.50 million for the quarter, compared to analysts’ expectations of $46.30 million. Analysts expect that Sandstorm Gold will post 0.07 EPS for the current fiscal year.

Hedge Funds Weigh In On Sandstorm Gold

Hedge funds and other institutional investors have recently modified their holdings of the stock. Van ECK Associates Corp lifted its position in shares of Sandstorm Gold by 2.3% in the fourth quarter. Van ECK Associates Corp now owns 28,838,800 shares of the company’s stock worth $145,059,000 after buying an additional 657,177 shares in the last quarter. Moneta Group Investment Advisors LLC grew its position in Sandstorm Gold by 100,345.3% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 25,063,118 shares of the company’s stock worth $131,832,000 after acquiring an additional 25,038,166 shares in the last quarter. Capital International Investors increased its stake in Sandstorm Gold by 3.1% during the fourth quarter. Capital International Investors now owns 14,452,440 shares of the company’s stock worth $72,696,000 after acquiring an additional 434,460 shares during the last quarter. Sprott Inc. raised its position in Sandstorm Gold by 6.4% during the fourth quarter. Sprott Inc. now owns 4,048,355 shares of the company’s stock valued at $20,365,000 after purchasing an additional 242,554 shares during the period. Finally, Amundi lifted its stake in shares of Sandstorm Gold by 34.6% in the 4th quarter. Amundi now owns 3,009,150 shares of the company’s stock valued at $17,122,000 after purchasing an additional 773,370 shares during the last quarter. Institutional investors own 51.97% of the company’s stock.

About Sandstorm Gold

Sandstorm Gold Ltd. operates as a gold royalty company. The company focuses on acquiring royalties and gold and other metals purchase agreements from companies that have advanced stage operating mines. It offers upfront payments for companies to acquire a stream and receives the right to purchase a percentage of a mine's production for the life of the mine.