Sandstorm Gold (NYSEAMERICAN:SAND) Shares Up 5.7%
Sandstorm Gold Ltd (NYSEAMERICAN:SAND)’s share price shot up 5.7% during trading on Monday . The company traded as high as $9.53 and last traded at $9.50. 1,916,487 shares traded hands during trading, a decline of 26% from the average session volume of 2,582,707 shares. The stock had previously closed at $8.99.
A number of brokerages have commented on SAND. TheStreet downgraded shares of Sandstorm Gold from a “b-” rating to a “c+” rating in a research report on Thursday, August 27th. Raymond James set a $9.50 price objective on shares of Sandstorm Gold and gave the stock a “market perform” rating in a research report on Tuesday, August 4th. Stifel Nicolaus initiated coverage on shares of Sandstorm Gold in a research note on Wednesday, June 24th. They set a “buy” rating and a $14.60 price target on the stock. CIBC upped their price target on shares of Sandstorm Gold from $16.00 to $16.75 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, Royal Bank of Canada reaffirmed a “buy” rating and set a $13.00 price target on shares of Sandstorm Gold in a research note on Tuesday, August 11th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. Sandstorm Gold currently has an average rating of “Hold” and a consensus price target of $13.48.
Sandstorm Gold (NYSEAMERICAN:SAND) last issued its quarterly earnings data on Thursday, July 30th. The mining company reported $0.02 EPS for the quarter, missing the Zacks’ consensus estimate of $0.03 by ($0.01). The company had revenue of $18.73 million for the quarter.
About Sandstorm Gold (NYSEAMERICAN:SAND)
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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