Zacks Investment Research upgraded shares of Sandstorm Gold (NYSEAMERICAN:SAND) from a sell rating to a hold rating in a research note issued to investors on Tuesday, Zacks.com reports.
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 equities analysts also recently weighed in on the company. Raymond James boosted their price target on Sandstorm Gold from $5.75 to $6.00 and gave the stock an outperform rating in a research report on Thursday, February 21st. Royal Bank of Canada reissued a buy rating on shares of Sandstorm Gold in a research report on Thursday, February 14th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of Buy and an average target price of $6.00.
NYSEAMERICAN:SAND opened at $5.45 on Tuesday. Sandstorm Gold has a 52-week low of $3.47 and a 52-week high of $5.89.
Sandstorm Gold (NYSEAMERICAN:SAND) last released its earnings results on Tuesday, May 7th. The mining company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.01). The company had revenue of $18.17 million during the quarter, compared to analyst estimates of $17.00 million.
Several large investors have recently modified their holdings of SAND. Legal & General Group Plc boosted its holdings in shares of Sandstorm Gold by 125.7% during the fourth quarter. Legal & General Group Plc now owns 6,896 shares of the mining company’s stock worth $32,000 after acquiring an additional 3,840 shares during the period. Neuberger Berman Group LLC bought a new stake in shares of Sandstorm Gold during the first quarter worth approximately $72,000. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Sandstorm Gold by 22.1% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 14,394 shares of the mining company’s stock worth $79,000 after acquiring an additional 2,605 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Sandstorm Gold by 61.2% during the fourth quarter. Geode Capital Management LLC now owns 18,071 shares of the mining company’s stock worth $82,000 after acquiring an additional 6,863 shares during the period. Finally, Ladenburg Thalmann Financial Services Inc. boosted its holdings in shares of Sandstorm Gold by 583.7% during the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 17,570 shares of the mining company’s stock worth $96,000 after acquiring an additional 15,000 shares during the period.
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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