Scotiabank Increases Sandstorm Gold (NYSE:SAND) Price Target to $6.50

Sandstorm Gold (NYSE:SAND) had its target price hoisted by equities researchers at Scotiabank from $6.25 to $6.50 in a report issued on Thursday, Benzinga reports. The firm currently has a “sector perform” rating on the stock. Scotiabank’s price objective indicates a potential upside of 11.97% from the stock’s previous close.

Separately, HC Wainwright reiterated a “buy” rating and set a $11.00 price target on shares of Sandstorm Gold in a report on Monday, May 6th.

Sandstorm Gold Stock Performance

Shares of NYSE:SAND opened at $5.81 on Thursday. The company’s 50 day simple moving average is $5.45 and its 200 day simple moving average is $4.95. The stock has a market capitalization of $1.73 billion, a price-to-earnings ratio of 72.57 and a beta of 1.08. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.26 and a quick ratio of 2.26. Sandstorm Gold has a 1 year low of $3.96 and a 1 year high of $6.07.

Sandstorm Gold (NYSE:SAND) last issued its earnings results on Thursday, May 2nd. The company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.02). Sandstorm Gold had a net margin of 12.24% and a return on equity of 1.52%. The company had revenue of $42.81 million during the quarter, compared to analyst estimates of $42.80 million. As a group, research analysts predict that Sandstorm Gold will post 0.08 EPS for the current fiscal year.

Institutional Trading of Sandstorm Gold

A number of institutional investors have recently modified their holdings of the business. Van ECK Associates Corp lifted its stake in shares of Sandstorm Gold by 5.9% during the 1st quarter. Van ECK Associates Corp now owns 30,542,674 shares of the company’s stock valued at $160,349,000 after buying an additional 1,703,874 shares in the last quarter. Capital International Investors increased its holdings in Sandstorm Gold by 3.1% during the 4th quarter. Capital International Investors now owns 14,452,440 shares of the company’s stock worth $72,696,000 after acquiring an additional 434,460 shares during the period. Sprott Inc. increased its holdings in Sandstorm Gold by 6.4% during the 4th quarter. Sprott Inc. now owns 4,048,355 shares of the company’s stock worth $20,365,000 after acquiring an additional 242,554 shares during the period. Helikon Investments Ltd bought a new stake in Sandstorm Gold during the 1st quarter worth approximately $6,771,000. Finally, EdgePoint Investment Group Inc. bought a new stake in Sandstorm Gold during the 1st quarter worth approximately $6,537,000. 51.97% of the stock is currently owned by hedge funds and other institutional investors.

Sandstorm Gold Company Profile

Sandstorm Gold Ltd. operates as a gold royalty company. The company focuses on acquiring royalties and gold and other metals purchase agreements from companies that have advanced stage operating mines. It offers upfront payments for companies to acquire a stream and receives the right to purchase a percentage of a mine's production for the life of the mine.