Sandstorm Gold Ltd (NYSEAMERICAN:SAND) was the target of a significant growth in short interest in the month of June. As of June 15th, there was short interest totalling 1,193,079 shares, a growth of 1.3% from the May 31st total of 1,177,412 shares. Based on an average daily volume of 971,962 shares, the short-interest ratio is currently 1.2 days.
Shares of Sandstorm Gold opened at $4.45 on Friday, MarketBeat.com reports. Sandstorm Gold has a 1-year low of $3.68 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 Zacks’ consensus estimate of $0.01. The business had revenue of $19.47 million for the quarter, compared to analyst estimates of $19.00 million.
A number of institutional investors have recently modified their holdings of the business. Natixis acquired a new stake in shares of Sandstorm Gold in the 1st quarter valued at about $110,000. Tower Research Capital LLC TRC grew its stake 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 buying an additional 21,824 shares during the period. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp acquired a new stake in shares of Sandstorm Gold in the 1st quarter valued at about $229,000. Millennium Management LLC acquired a new stake in shares of Sandstorm Gold in the 4th quarter valued at about $259,000. Finally, Goldman Sachs Group Inc. grew its stake in shares of Sandstorm Gold by 104.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 55,727 shares of the mining company’s stock valued at $278,000 after buying an additional 28,430 shares during the period.
Separately, Zacks Investment Research upgraded Sandstorm Gold from a “hold” rating to a “buy” rating and set a $5.50 price target for the company in a report on Tuesday, May 15th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $5.88.
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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