Sandstorm Gold Ltd (SAND) Lowered to “Sell” at Zacks Investment Research
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. “
Several other research analysts have also issued reports on the stock. Canaccord Genuity upgraded shares of Sandstorm Gold from a hold rating to a buy rating in a research note on Monday. TD Securities reiterated a buy rating and issued a $9.50 price target (up from $8.50) on shares of Sandstorm Gold in a research note on Thursday, August 4th. CIBC upgraded shares of Sandstorm Gold from a sector perform rating to a sector outperform rating in a research note on Monday, July 11th. Finally, BMO Capital Markets reiterated a market perform rating and issued a $5.50 price target (up from $5.00) on shares of Sandstorm Gold in a research note on Thursday, July 7th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. Sandstorm Gold has a consensus rating of Hold and an average price target of $7.44.
Sandstorm Gold (NASDAQ:SAND) traded down 0.45% during mid-day trading on Thursday, hitting $4.41. 1,023,655 shares of the stock traded hands. The stock’s market cap is $663.26 million. The company’s 50 day moving average price is $5.58 and its 200-day moving average price is $4.72. Sandstorm Gold has a 1-year low of $1.94 and a 1-year high of $6.75.
A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in Sandstorm Gold by 13.6% in the second quarter. Vanguard Group Inc. now owns 27,181 shares of the company’s stock worth $122,000 after buying an additional 3,251 shares in the last quarter. OLD Mission Capital LLC bought a new stake in shares of Sandstorm Gold during the second quarter worth about $208,000. Cambridge Investment Research Advisors Inc. increased its stake in shares of Sandstorm Gold by 305.5% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 53,125 shares of the company’s stock worth $237,000 after buying an additional 40,025 shares during the last quarter. Royce & Associates LP bought a new stake in shares of Sandstorm Gold during the second quarter worth about $289,000. Finally, Barclays PLC increased its stake in shares of Sandstorm Gold by 168,471.4% in the second quarter. Barclays PLC now owns 94,400 shares of the company’s stock worth $421,000 after buying an additional 94,344 shares during the last quarter.
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