Short Interest in Sandstorm Gold Ltd (SAND) Rises By 19.2%
Sandstorm Gold Ltd (NYSEAMERICAN:SAND) was the recipient of a significant increase in short interest in February. As of February 28th, there was short interest totalling 4,247,781 shares, an increase of 19.2% from the February 15th total of 3,562,654 shares. Approximately 3.1% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,793,330 shares, the short-interest ratio is presently 2.4 days.
SAND has been the topic of a number of recent analyst reports. ValuEngine upgraded shares of Sandstorm Gold from a “sell” rating to a “hold” rating in a research report on Tuesday, November 14th. BMO Capital Markets set a $5.00 price target on shares of Sandstorm Gold and gave the company a “hold” rating in a research report on Thursday, February 15th. Scotiabank boosted their price target on shares of Sandstorm Gold from $6.00 to $7.00 and gave the company an “outperform” rating in a research report on Thursday, December 21st. Finally, Zacks Investment Research lowered shares of Sandstorm Gold from a “buy” rating to a “hold” rating in a research report on Friday, February 23rd. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $5.75.
A number of large investors have recently added to or reduced their stakes in the business. Virtu Financial LLC raised its stake in shares of Sandstorm Gold by 110.0% in the third quarter. Virtu Financial LLC now owns 43,180 shares of the mining company’s stock worth $113,000 after acquiring an additional 22,616 shares during the last quarter. Highstreet Asset Management Inc. bought a new position in shares of Sandstorm Gold in the fourth quarter worth about $143,000. Tower Research Capital LLC TRC raised its stake in shares of Sandstorm Gold by 283.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 29,524 shares of the mining company’s stock worth $185,000 after acquiring an additional 21,824 shares during the last quarter. Tiemann Investment Advisors LLC bought a new position in shares of Sandstorm Gold in the third quarter worth about $203,000. Finally, Millennium Management LLC bought a new position in shares of Sandstorm Gold in the fourth quarter worth about $259,000.
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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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