Zacks Investment Research upgraded shares of Sandstorm Gold (NYSEAMERICAN:SAND) from a hold rating to a buy rating in a report issued on Tuesday. The firm currently has $5.50 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. “
Separately, BMO Capital Markets set a $5.00 price target on Sandstorm Gold and gave the stock a hold rating in a report on Thursday, February 15th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. The stock has a consensus rating of Hold and an average price target of $5.88.
Shares of Sandstorm Gold opened at $4.54 on Tuesday, according to MarketBeat Ratings. Sandstorm Gold has a 1-year low of $3.26 and a 1-year high of $5.64.
Sandstorm Gold (NYSEAMERICAN:SAND) last issued its quarterly earnings results on Wednesday, May 9th. The mining company reported $0.01 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.01. The company had revenue of $19.47 million for the quarter, compared to analysts’ expectations of $19.00 million.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Two Sigma Investments LP increased its holdings in shares of Sandstorm Gold by 155.2% in the 4th quarter. Two Sigma Investments LP now owns 383,336 shares of the mining company’s stock valued at $1,913,000 after acquiring an additional 233,122 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its holdings in shares of Sandstorm Gold by 59.9% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 110,667 shares of the mining company’s stock valued at $552,000 after acquiring an additional 41,467 shares during the last quarter. Scotia Capital Inc. increased its holdings in shares of Sandstorm Gold by 7.7% in the 4th quarter. Scotia Capital Inc. now owns 663,479 shares of the mining company’s stock valued at $3,294,000 after acquiring an additional 47,719 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of Sandstorm Gold by 283.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 29,524 shares of the mining company’s stock valued at $185,000 after acquiring an additional 21,824 shares during the last quarter. Finally, Arias Resource Capital GP Ltd. acquired a new stake in shares of Sandstorm Gold in the 4th quarter valued at about $5,925,000.
About Sandstorm Gold
Sandstorm Gold Ltd. operates as a gold streaming and royalty company. It has a portfolio of 174 streams and royalties in Canada, the United States, Australia, Honduras, Brazil, Peru, Chile, Argentina, Australia, Turkey, French Guiana, South Africa, Paraguay, Botswana, Sweden, Mongolia, Mexico, and Cote d'Ivoire.
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