Sandstorm Gold (NYSE:SAND) Lifted to “Buy” at StockNews.com

Sandstorm Gold (NYSE:SAND) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Tuesday.

A number of other analysts have also recently weighed in on the stock. Royal Bank of Canada dropped their price objective on shares of Sandstorm Gold from $6.50 to $6.00 and set an “outperform” rating on the stock in a report on Tuesday, September 10th. HC Wainwright increased their price objective on shares of Sandstorm Gold from $11.00 to $11.50 and gave the stock a “buy” rating in a report on Monday, August 5th. CIBC increased their price objective on shares of Sandstorm Gold from $9.00 to $9.50 and gave the stock a “neutral” rating in a report on Wednesday, July 10th. Finally, Scotiabank increased their price objective on shares of Sandstorm Gold from $6.25 to $6.50 and gave the stock a “sector perform” rating in a report on Thursday, May 23rd. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $8.38.

Sandstorm Gold Stock Performance

Shares of NYSE:SAND traded down $0.11 on Tuesday, reaching $6.14. 2,512,868 shares of the company’s stock were exchanged, compared to its average volume of 2,136,182. The firm has a market capitalization of $1.82 billion, a price-to-earnings ratio of 76.70 and a beta of 1.14. Sandstorm Gold has a fifty-two week low of $3.96 and a fifty-two week high of $6.29. The business’s 50-day moving average is $5.62 and its two-hundred day moving average is $5.47. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 0.27.

Sandstorm Gold (NYSE:SAND) last issued its earnings results on Thursday, August 1st. The company reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.01. The company had revenue of $41.37 million for the quarter, compared to analysts’ expectations of $40.50 million. Sandstorm Gold had a net margin of 17.55% and a return on equity of 2.06%. During the same period in the prior year, the company earned $0.01 earnings per share. As a group, equities research analysts forecast that Sandstorm Gold will post 0.09 EPS for the current year.

Hedge Funds Weigh In On Sandstorm Gold

Several large investors have recently made changes to their positions in the business. Van ECK Associates Corp increased its holdings in shares of Sandstorm Gold by 5.9% in the first quarter. Van ECK Associates Corp now owns 30,542,674 shares of the company’s stock valued at $160,349,000 after buying an additional 1,703,874 shares in the last quarter. Capital International Investors lifted its holdings in shares of Sandstorm Gold by 3.1% during the fourth quarter. Capital International Investors now owns 14,452,440 shares of the company’s stock valued at $72,696,000 after purchasing an additional 434,460 shares during the last quarter. Sprott Inc. boosted its position in shares of Sandstorm Gold by 6.4% in the 4th quarter. Sprott Inc. now owns 4,048,355 shares of the company’s stock valued at $20,365,000 after purchasing an additional 242,554 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in shares of Sandstorm Gold by 2.2% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 3,634,027 shares of the company’s stock valued at $19,766,000 after purchasing an additional 78,032 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of Sandstorm Gold by 42.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,149,232 shares of the company’s stock valued at $17,162,000 after purchasing an additional 935,005 shares during the period. Institutional investors own 51.97% of the company’s stock.

About Sandstorm Gold

Sandstorm Gold Ltd. operates as a gold royalty company. The company focuses on acquiring royalties and gold and other metals purchase agreements from companies that have advanced stage operating mines. It offers upfront payments for companies to acquire a stream and receives the right to purchase a percentage of a mine's production for the life of the mine.