Raymond James Financial, Inc. reiterated their outperform rating on shares of Sandstorm Gold Ltd (NASDAQ:SAND) in a research report released on Friday, Marketbeat.com reports. The brokerage currently has a $6.00 price target on the stock.
A number of other brokerages have also recently issued reports on SAND. CIBC cut shares of Sandstorm Gold from a sector outperform rating to a sector perform rating in a research report on Wednesday, June 21st. Zacks Investment Research upgraded shares of Sandstorm Gold from a sell rating to a hold rating in a research report on Friday, April 7th. Scotiabank set a $6.00 target price on shares of Sandstorm Gold and gave the stock an outperform rating in a research report on Friday, June 16th. Finally, Royal Bank Of Canada upgraded shares of Sandstorm Gold from a sector perform rating to an outperform rating in a research report on Monday, July 10th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Sandstorm Gold has a consensus rating of Buy and a consensus price target of $6.95.
Shares of Sandstorm Gold (NASDAQ SAND) traded down 1.20% during mid-day trading on Friday, reaching $4.11. 1,867,295 shares of the company traded hands. Sandstorm Gold has a 52 week low of $3.18 and a 52 week high of $6.75. The stock’s 50-day moving average is $3.63 and its 200-day moving average is $4.05. The company has a market capitalization of $624.70 million and a P/E ratio of 35.13.
Sandstorm Gold declared that its Board of Directors has initiated a share repurchase program on Monday, April 3rd that allows the company to buyback 7,600,000 shares. This buyback authorization allows the company to buy shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.
Institutional investors have recently made changes to their positions in the company. Van ECK Associates Corp raised its position in Sandstorm Gold by 11.7% in the first quarter. Van ECK Associates Corp now owns 28,972,293 shares of the company’s stock worth $123,712,000 after buying an additional 3,039,217 shares in the last quarter. Great West Life Assurance Co. Can raised its position in Sandstorm Gold by 10.2% in the first quarter. Great West Life Assurance Co. Can now owns 8,623,922 shares of the company’s stock worth $36,779,000 after buying an additional 799,803 shares in the last quarter. Sentry Investments Corp. raised its position in Sandstorm Gold by 1.4% in the first quarter. Sentry Investments Corp. now owns 6,104,610 shares of the company’s stock worth $34,918,000 after buying an additional 85,400 shares in the last quarter. Wells Fargo & Company MN raised its position in Sandstorm Gold by 8.1% in the first quarter. Wells Fargo & Company MN now owns 2,666,461 shares of the company’s stock worth $11,385,000 after buying an additional 200,677 shares in the last quarter. Finally, Financial & Investment Management Group Ltd. raised its position in Sandstorm Gold by 11.6% in the second quarter. Financial & Investment Management Group Ltd. now owns 1,682,307 shares of the company’s stock worth $6,511,000 after buying an additional 174,359 shares in the last quarter.
About Sandstorm Gold
Sandstorm Gold Ltd is a Canada-based company engaged in providing financing to mining companies. The Company focuses on acquiring gold and other metal purchase agreements (Gold Streams or Silver Streams), and royalties from companies that have advanced stage development projects or operating mines. The Company operates in the segments of Bachelor Lake, Black Fox, Chapada Santa Elena, Yamana Silver Stream, Chapada, Diavik Mine, Other Royalties, Other and Corporate.
What are top analysts saying about Sandstorm Gold Ltd? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Sandstorm Gold Ltd and related companies.