Sandstorm Gold (NYSE:SAND) Given New $9.50 Price Target at CIBC

Sandstorm Gold (NYSE:SANDGet Free Report) had its price objective increased by investment analysts at CIBC from $9.00 to $9.50 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the stock. CIBC’s price target suggests a potential upside of 67.25% from the company’s previous close.

A number of other analysts also recently commented on the company. Scotiabank raised their price objective on Sandstorm Gold from $6.25 to $6.50 and gave the stock a “sector perform” rating in a research report on Thursday, May 23rd. HC Wainwright reiterated a “buy” rating and issued a $11.00 price objective on shares of Sandstorm Gold in a research report on Tuesday. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $9.04.

View Our Latest Research Report on Sandstorm Gold

Sandstorm Gold Stock Performance

NYSE:SAND traded up $0.10 during mid-day trading on Wednesday, hitting $5.68. 1,446,344 shares of the company’s stock traded hands, compared to its average volume of 2,258,091. The firm has a 50 day moving average of $5.59 and a two-hundred day moving average of $5.11. Sandstorm Gold has a 12 month low of $3.96 and a 12 month high of $6.07. The firm has a market capitalization of $1.69 billion, a price-to-earnings ratio of 71.01 and a beta of 1.13. The company has a current ratio of 2.26, a quick ratio of 2.26 and a debt-to-equity ratio of 0.29.

Sandstorm Gold (NYSE:SANDGet Free Report) last announced its quarterly earnings data on Thursday, May 2nd. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.02). Sandstorm Gold had a return on equity of 1.52% and a net margin of 12.24%. The firm had revenue of $42.81 million during the quarter, compared to the consensus estimate of $42.80 million. On average, equities analysts forecast that Sandstorm Gold will post 0.08 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sandstorm Gold

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Mather Group LLC. acquired a new stake in shares of Sandstorm Gold in the 2nd quarter valued at $67,000. Boston Partners bought a new position in Sandstorm Gold during the first quarter worth about $1,902,000. EdgePoint Investment Group Inc. bought a new position in Sandstorm Gold during the first quarter worth about $6,537,000. Perritt Capital Management Inc. bought a new position in Sandstorm Gold during the first quarter worth about $31,000. Finally, Clearbridge Investments LLC lifted its holdings in Sandstorm Gold by 48.1% during the first quarter. Clearbridge Investments LLC now owns 384,921 shares of the company’s stock worth $2,021,000 after acquiring an additional 125,096 shares in the last quarter. 51.97% of the stock is owned by institutional investors and hedge funds.

Sandstorm Gold Company Profile

(Get Free Report)

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.

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