Zacks Investment Research upgraded shares of Sandstorm Gold Ltd (NASDAQ:SAND) (TSE:SSL) from a hold rating to a buy rating in a report released on Wednesday morning. Zacks Investment Research currently has $5.25 target price on the stock.

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. “

Other equities research analysts also recently issued reports about the company. Raymond James Financial, Inc. restated an outperform rating and issued a $6.00 price target on shares of Sandstorm Gold in a report on Friday, July 14th. CIBC downgraded Sandstorm Gold from a sector outperform rating to a sector perform rating in a report on Wednesday, June 21st. Scotiabank set a $6.00 price target on Sandstorm Gold and gave the stock an outperform rating in a report on Friday, June 16th. Finally, Royal Bank Of Canada upgraded Sandstorm Gold from a sector perform rating to an outperform rating in a report on Monday, July 10th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus target price of $5.75.

Shares of Sandstorm Gold (NASDAQ SAND) traded up 3.05% during midday trading on Wednesday, reaching $4.73. The company’s stock had a trading volume of 1,422,137 shares. The stock has a 50-day moving average of $4.66 and a 200 day moving average of $4.12. The company has a market cap of $872.75 million and a price-to-earnings ratio of 62.24. Sandstorm Gold has a 12 month low of $3.18 and a 12 month high of $5.18.

Sandstorm Gold (NASDAQ:SAND) (TSE:SSL) last announced its quarterly earnings results on Thursday, August 3rd. The company reported $0.01 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.01. The business had revenue of $16.07 million during the quarter, compared to the consensus estimate of $18.00 million. On average, analysts predict that Sandstorm Gold will post $0.06 earnings per share for the current fiscal year.

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Several hedge funds have recently bought and sold shares of the company. Great West Life Assurance Co. Can boosted its position in shares of Sandstorm Gold by 8.8% during the second quarter. Great West Life Assurance Co. Can now owns 9,382,068 shares of the company’s stock worth $36,000,000 after buying an additional 758,146 shares during the period. Wells Fargo & Company MN boosted its position in shares of Sandstorm Gold by 18.0% during the second quarter. Wells Fargo & Company MN now owns 3,146,291 shares of the company’s stock worth $12,176,000 after buying an additional 479,830 shares during the period. Investec Asset Management LTD acquired a new position in shares of Sandstorm Gold during the second quarter worth about $9,638,000. FMR LLC boosted its position in shares of Sandstorm Gold by 11.4% during the second quarter. FMR LLC now owns 1,765,475 shares of the company’s stock worth $6,821,000 after buying an additional 181,000 shares during the period. Finally, Financial & Investment Management Group Ltd. boosted its position in shares of Sandstorm Gold by 11.6% during the second quarter. Financial & Investment Management Group Ltd. now owns 1,682,307 shares of the company’s stock worth $6,511,000 after buying an additional 174,359 shares during the period.

About Sandstorm Gold

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

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