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. “

Separately, Canaccord Genuity reiterated a “hold” rating on shares of Sandstorm Gold in a research note on Thursday, September 15th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Sandstorm Gold currently has an average rating of “Buy” and a consensus target price of $7.06.

Shares of Sandstorm Gold (NASDAQ:SAND) traded up 1.86% during trading on Wednesday, reaching $4.38. 346,230 shares of the company’s stock were exchanged. The firm’s market capitalization is $666.82 million. Sandstorm Gold has a 52-week low of $1.94 and a 52-week high of $6.75. The company has a 50 day moving average of $3.84 and a 200 day moving average of $4.86.

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Several hedge funds and other institutional investors have recently made changes to their positions in the company. Credit Suisse AG raised its position in shares of Sandstorm Gold by 6.2% in the third quarter. Credit Suisse AG now owns 576,065 shares of the company’s stock valued at $2,899,000 after buying an additional 33,774 shares during the period. PCJ Investment Counsel Ltd. acquired a new position in shares of Sandstorm Gold during the third quarter valued at approximately $984,000. Jane Street Group LLC raised its position in shares of Sandstorm Gold by 125.1% in the third quarter. Jane Street Group LLC now owns 1,473,556 shares of the company’s stock valued at $7,412,000 after buying an additional 818,936 shares during the period. U S Global Investors Inc. raised its position in shares of Sandstorm Gold by 8.6% in the third quarter. U S Global Investors Inc. now owns 814,400 shares of the company’s stock valued at $4,095,000 after buying an additional 64,400 shares during the period. Finally, D. E. Shaw & Co. Inc. raised its position in shares of Sandstorm Gold by 3,359.2% in the third quarter. D. E. Shaw & Co. Inc. now owns 839,792 shares of the company’s stock valued at $4,230,000 after buying an additional 815,515 shares during the period.

Sandstorm Gold Company Profile

Sandstorm Gold Ltd. is engaged in providing financing alternatives to mining companies. The Company focuses on acquiring gold and other precious metal purchase agreements (Gold Streams or Silver Streams), and royalties from companies that have advanced stage development projects or operating mines. It operates in the segments of Bachelor Lake, Black Fox, Santa Elena, Yamana Silver Stream, Chapada, Diavik Mine, Other Royalties, Other and Corporate.

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