Sandstorm Gold Ltd (SAND) Lowered to “Sell” at Zacks Investment Research
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. “
Several other research analysts have also recently weighed in on the stock. Canaccord Genuity upgraded shares of Sandstorm Gold from a hold rating to a buy rating in a report on Monday. TD Securities restated a buy rating and set a $9.50 price target (up from $8.50) on shares of Sandstorm Gold in a report on Thursday, August 4th. CIBC upgraded shares of Sandstorm Gold from a sector perform rating to a sector outperform rating in a report on Monday, July 11th. Finally, BMO Capital Markets restated a market perform rating and set a $5.50 price target (up from $5.00) on shares of Sandstorm Gold in a report on Thursday, July 7th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of Hold and an average price target of $7.44.
Shares of Sandstorm Gold (NASDAQ:SAND) traded down 0.45% on Thursday, hitting $4.41. 1,023,655 shares of the stock traded hands. The stock has a 50 day moving average price of $5.58 and a 200-day moving average price of $4.72. Sandstorm Gold has a 52 week low of $1.94 and a 52 week high of $6.75. The stock’s market cap is $663.26 million.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in Sandstorm Gold by 13.6% in the second quarter. Vanguard Group Inc. now owns 27,181 shares of the company’s stock worth $122,000 after buying an additional 3,251 shares during the last quarter. OLD Mission Capital LLC bought a new position in Sandstorm Gold during the second quarter worth $208,000. Cambridge Investment Research Advisors Inc. boosted its position in Sandstorm Gold by 305.5% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 53,125 shares of the company’s stock worth $237,000 after buying an additional 40,025 shares during the last quarter. Royce & Associates LP acquired a new stake in Sandstorm Gold during the second quarter valued at about $289,000. Finally, Barclays PLC raised its stake in Sandstorm Gold by 168,471.4% in the second quarter. Barclays PLC now owns 94,400 shares of the company’s stock valued at $421,000 after buying an additional 94,344 shares during the period.
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