Zacks Investment Research upgraded shares of Sandstorm Gold (NYSEAMERICAN:SAND) from a hold rating to a buy rating in a research report sent to investors on Wednesday, Zacks.com reports. Zacks Investment Research currently has $7.75 price objective 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. “
SAND has been the topic of a number of other research reports. CIBC upgraded shares of Sandstorm Gold from a neutral rating to a sector outperform rating and set a $11.25 target price on the stock in a research report on Thursday, October 31st. Raymond James set a $7.00 price target on shares of Sandstorm Gold and gave the stock an outperform rating in a report on Friday, November 1st. Four equities research analysts have rated the stock with a buy rating, The company currently has a consensus rating of Buy and a consensus price target of $8.67.
Sandstorm Gold (NYSEAMERICAN:SAND) last posted its quarterly earnings data on Thursday, February 13th. The mining company reported $0.03 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.03. The business had revenue of $24.00 million during the quarter, compared to the consensus estimate of $23.00 million.
A number of institutional investors have recently modified their holdings of the stock. Van ECK Associates Corp raised its stake in Sandstorm Gold by 4.0% during the 4th quarter. Van ECK Associates Corp now owns 20,917,114 shares of the mining company’s stock worth $155,832,000 after buying an additional 795,297 shares during the period. Great West Life Assurance Co. Can grew its stake in Sandstorm Gold by 8.2% in the third quarter. Great West Life Assurance Co. Can now owns 10,023,622 shares of the mining company’s stock valued at $56,605,000 after acquiring an additional 756,744 shares during the period. Euro Pacific Asset Management LLC acquired a new stake in Sandstorm Gold in the fourth quarter valued at approximately $2,302,000. Spark Investment Management LLC acquired a new stake in Sandstorm Gold in the fourth quarter valued at approximately $1,670,000. Finally, Russell Investments Group Ltd. increased its holdings in shares of Sandstorm Gold by 2,412.6% during the third quarter. Russell Investments Group Ltd. now owns 176,787 shares of the mining company’s stock valued at $1,000,000 after acquiring an additional 169,751 shares in the last quarter.
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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