Sandstorm Gold Ltd (NASDAQ:SAND) (TSE:SSL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.
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. “
A number of other analysts also recently weighed in on the company. Royal Bank Of Canada upgraded Sandstorm Gold from a “sector perform” rating to an “outperform” rating in a report on Monday, July 10th. CIBC downgraded Sandstorm Gold from a “sector outperform” rating to a “sector perform” rating in a report on Wednesday, June 21st. Raymond James Financial, Inc. reiterated an “outperform” rating and set a $6.00 price target on shares of Sandstorm Gold in a report on Friday, July 14th. Finally, Scotiabank set a $6.00 price target on Sandstorm Gold and gave the stock an “outperform” rating in a report on Friday, June 16th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company has an average rating of “Buy” and an average price target of $5.75.
Shares of Sandstorm Gold (NASDAQ SAND) traded down 1.168% during midday trading on Wednesday, hitting $4.655. The company had a trading volume of 292,121 shares. The stock has a market capitalization of $858.91 million and a price-to-earnings ratio of 61.250. Sandstorm Gold has a one year low of $3.18 and a one year high of $5.18. The stock’s 50-day moving average price is $4.70 and its 200-day moving average price is $4.13.
Sandstorm Gold (NASDAQ:SAND) (TSE:SSL) last issued its quarterly earnings results on Thursday, August 3rd. The company reported $0.01 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.01. The business had revenue of $16.07 million for the quarter, compared to analyst estimates of $18.00 million. Analysts predict that Sandstorm Gold will post $0.06 EPS for the current year.
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A number of institutional investors have recently modified their holdings of the business. Great West Life Assurance Co. Can grew its holdings in Sandstorm Gold by 8.8% during the 2nd quarter. Great West Life Assurance Co. Can now owns 9,382,068 shares of the company’s stock worth $36,000,000 after acquiring an additional 758,146 shares during the period. Wells Fargo & Company MN grew its holdings in Sandstorm Gold by 18.0% during the 2nd quarter. Wells Fargo & Company MN now owns 3,146,291 shares of the company’s stock worth $12,176,000 after acquiring an additional 479,830 shares during the period. Investec Asset Management LTD acquired a new stake in Sandstorm Gold during the 2nd quarter worth about $9,638,000. FMR LLC grew its holdings in Sandstorm Gold by 11.4% during the 2nd quarter. FMR LLC now owns 1,765,475 shares of the company’s stock worth $6,821,000 after acquiring an additional 181,000 shares during the period. Finally, Financial & Investment Management Group Ltd. grew its holdings in Sandstorm Gold by 11.6% during the 2nd quarter. Financial & Investment Management Group Ltd. now owns 1,682,307 shares of the company’s stock worth $6,511,000 after acquiring an additional 174,359 shares during the period.
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.
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