Sandstorm Gold Ltd (NYSEAMERICAN:SAND) was the target of a large decline in short interest in January. As of January 31st, there was short interest totalling 1,983,628 shares, a decline of 25.4% from the January 15th total of 2,658,984 shares. Based on an average trading volume of 1,134,693 shares, the short-interest ratio is currently 1.7 days.
Several analysts have recently weighed in on SAND shares. Canaccord Genuity reiterated a “buy” rating on shares of Sandstorm Gold in a research report on Sunday, October 21st. Royal Bank of Canada reiterated a “buy” rating on shares of Sandstorm Gold in a research report on Thursday. TD Securities reiterated a “buy” rating on shares of Sandstorm Gold in a research report on Thursday, November 15th. Finally, Zacks Investment Research upgraded shares of Sandstorm Gold from a “sell” rating to a “hold” rating in a research report on Wednesday, October 31st. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $5.25.
A number of hedge funds have recently made changes to their positions in SAND. BlackRock Inc. lifted its holdings in Sandstorm Gold by 132.0% during the 2nd quarter. BlackRock Inc. now owns 38,943 shares of the mining company’s stock valued at $175,000 after purchasing an additional 22,156 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in Sandstorm Gold by 56.8% during the 2nd quarter. Renaissance Technologies LLC now owns 345,200 shares of the mining company’s stock valued at $1,553,000 after purchasing an additional 125,000 shares during the last quarter. Bank of America Corp DE lifted its holdings in Sandstorm Gold by 63.2% during the 2nd quarter. Bank of America Corp DE now owns 44,754 shares of the mining company’s stock valued at $201,000 after purchasing an additional 17,326 shares during the last quarter. Millennium Management LLC lifted its holdings in Sandstorm Gold by 41.7% during the 2nd quarter. Millennium Management LLC now owns 286,270 shares of the mining company’s stock valued at $1,288,000 after purchasing an additional 84,183 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its holdings in Sandstorm Gold by 8.0% during the 3rd quarter. Wells Fargo & Company MN now owns 2,923,100 shares of the mining company’s stock valued at $10,903,000 after purchasing an additional 216,123 shares during the last quarter.
Sandstorm Gold (NYSEAMERICAN:SAND) last announced its quarterly earnings results on Wednesday, November 14th. The mining company reported $0.01 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.01. The firm had revenue of $10.77 million for the quarter, compared to the consensus estimate of $19.00 million.
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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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