Mountain Lake Investment Management LLC purchased a new position in shares of Sandstorm Gold Ltd. (NYSE:SAND) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 220,000 shares of the company’s stock, valued at approximately $1,496,000. Sandstorm Gold makes up 0.8% of Mountain Lake Investment Management LLC’s holdings, making the stock its 25th biggest holding. Mountain Lake Investment Management LLC owned about 0.11% of Sandstorm Gold at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. First Trust Advisors LP bought a new stake in Sandstorm Gold during the first quarter worth $727,000. Amundi Pioneer Asset Management Inc. lifted its stake in Sandstorm Gold by 28.3% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 192,500 shares of the company’s stock worth $1,055,000 after purchasing an additional 42,500 shares during the last quarter. Credit Suisse AG lifted its stake in Sandstorm Gold by 1.1% during the fourth quarter. Credit Suisse AG now owns 220,885 shares of the company’s stock worth $1,583,000 after purchasing an additional 2,352 shares during the last quarter. ExodusPoint Capital Management LP lifted its stake in Sandstorm Gold by 28.1% during the fourth quarter. ExodusPoint Capital Management LP now owns 134,241 shares of the company’s stock worth $963,000 after purchasing an additional 29,485 shares during the last quarter. Finally, Guggenheim Capital LLC lifted its stake in Sandstorm Gold by 29.6% during the fourth quarter. Guggenheim Capital LLC now owns 286,542 shares of the company’s stock worth $2,055,000 after purchasing an additional 65,450 shares during the last quarter. 39.36% of the stock is currently owned by institutional investors and hedge funds.
NYSE SAND traded down $0.02 during trading hours on Thursday, hitting $7.54. The company’s stock had a trading volume of 17,931 shares, compared to its average volume of 1,471,377. Sandstorm Gold Ltd. has a 52 week low of $5.96 and a 52 week high of $10.63. The stock has a market capitalization of $1.47 billion, a P/E ratio of 49.27 and a beta of 1.10. The company’s 50-day moving average price is $8.27.
A number of research analysts have recently commented on the company. HC Wainwright reiterated a “buy” rating and issued a $14.75 price target on shares of Sandstorm Gold in a research note on Wednesday, June 30th. Scotiabank increased their price target on Sandstorm Gold from $10.00 to $11.00 and gave the company a “sector perform” rating in a research note on Thursday, July 1st. Zacks Investment Research cut Sandstorm Gold from a “hold” rating to a “sell” rating in a research note on Friday, May 7th. Royal Bank of Canada lowered Sandstorm Gold from a “sector perform” rating to an “underperform” rating and lowered their target price for the stock from $8.00 to $7.00 in a research report on Monday, June 28th. Finally, National Bank Financial raised their target price on Sandstorm Gold from C$13.00 to C$13.50 and gave the stock an “outperform” rating in a research report on Friday, July 16th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $11.96.
Sandstorm Gold Company Profile
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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