Sandstorm Gold (NYSE:SAND) Price Target Cut to $9.75 by Analysts at Raymond James

Sandstorm Gold (NYSE:SANDGet Rating) had its price objective cut by Raymond James from $10.00 to $9.75 in a research note issued to investors on Friday, BayStreet.CA reports. They currently have an outperform rating on the stock. Raymond James also issued estimates for Sandstorm Gold’s Q2 2023 earnings at $0.04 EPS and FY2023 earnings at $0.17 EPS.

Other equities research analysts have also issued research reports about the company. Canaccord Genuity Group boosted their price target on Sandstorm Gold from C$12.50 to C$13.50 and gave the stock a buy rating in a research note on Tuesday, May 3rd. HC Wainwright reiterated a buy rating and issued a $14.75 target price on shares of Sandstorm Gold in a research report on Tuesday, May 3rd. Canaccord Genuity Group upgraded Sandstorm Gold to a buy rating and set a $10.50 target price on the stock in a research report on Monday, February 21st. Royal Bank of Canada upgraded Sandstorm Gold from an underperform rating to a sector perform rating and upped their target price for the company from $6.50 to $7.00 in a research report on Friday, February 18th. Finally, National Bank Financial upped their target price on Sandstorm Gold from C$10.00 to C$12.50 in a research report on Wednesday, April 20th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of Buy and a consensus price target of $11.33.

Shares of SAND stock traded up $0.25 during trading hours on Friday, reaching $6.19. 2,070,620 shares of the company’s stock were exchanged, compared to its average volume of 2,423,460. Sandstorm Gold has a 1 year low of $5.30 and a 1 year high of $9.31. The stock has a market cap of $1.19 billion, a PE ratio of 38.69 and a beta of 1.01. The stock’s fifty day moving average price is $7.91 and its two-hundred day moving average price is $6.88.

Sandstorm Gold (NYSE:SANDGet Rating) last issued its quarterly earnings results on Thursday, February 17th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.01). Sandstorm Gold had a return on equity of 5.19% and a net margin of 26.67%. The business had revenue of $29.82 million for the quarter. On average, equities analysts expect that Sandstorm Gold will post 0.2 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, April 29th. Shareholders of record on Tuesday, April 19th were issued a $0.016 dividend. This represents a $0.06 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date was Monday, April 18th. Sandstorm Gold’s payout ratio is presently 37.50%.

A number of large investors have recently made changes to their positions in the business. Acadian Asset Management LLC acquired a new position in shares of Sandstorm Gold during the 1st quarter worth approximately $25,000. Aire Advisors LLC acquired a new position in shares of Sandstorm Gold during the 4th quarter worth approximately $68,000. Aigen Investment Management LP acquired a new position in shares of Sandstorm Gold during the 1st quarter worth approximately $83,000. Northwestern Mutual Wealth Management Co. raised its stake in shares of Sandstorm Gold by 14.5% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 13,622 shares of the company’s stock worth $84,000 after buying an additional 1,722 shares during the period. Finally, Bank of New York Mellon Corp acquired a new position in shares of Sandstorm Gold during the 3rd quarter worth approximately $84,000. 40.33% of the stock is owned by institutional investors.

About Sandstorm Gold (Get Rating)

Sandstorm Gold Ltd. operates as a gold royalty company. The company focuses on acquiring royalties and gold and other metals purchase agreements (streams) from companies that have advanced stage development projects or operating mines. It offers upfront payments for companies to acquire a 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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