CIBC Increases Sandstorm Gold (NYSE:SAND) Price Target to $9.50

Sandstorm Gold (NYSE:SAND) had its price objective upped by CIBC from $9.00 to $9.50 in a research report issued on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the stock. CIBC’s target price would suggest a potential upside of 64.22% from the company’s previous close.

Other equities analysts have also recently issued research reports about the company. Scotiabank upped their price target on Sandstorm Gold from $6.25 to $6.50 and gave the stock a “sector perform” rating in a report on Thursday, May 23rd. HC Wainwright reaffirmed a “buy” rating and issued a $11.00 price target on shares of Sandstorm Gold in a report on Tuesday. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Sandstorm Gold currently has an average rating of “Hold” and an average target price of $9.04.

Sandstorm Gold Stock Up 1.8 %

Shares of SAND opened at $5.79 on Wednesday. Sandstorm Gold has a 52 week low of $3.96 and a 52 week high of $6.07. The company has a quick ratio of 2.26, a current ratio of 2.26 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $1.72 billion, a price-to-earnings ratio of 72.31 and a beta of 1.13. The stock’s 50-day moving average price is $5.60 and its 200-day moving average price is $5.12.

Sandstorm Gold (NYSE:SAND) last issued its earnings results 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 company had revenue of $42.81 million during the quarter, compared to analysts’ expectations of $42.80 million. On average, sell-side analysts predict that Sandstorm Gold will post 0.08 EPS for the current year.

Hedge Funds Weigh In On Sandstorm Gold

A number of hedge funds have recently made changes to their positions in SAND. Van ECK Associates Corp raised its holdings in shares of Sandstorm Gold by 5.9% during the first quarter. Van ECK Associates Corp now owns 30,542,674 shares of the company’s stock valued at $160,349,000 after acquiring an additional 1,703,874 shares during the last quarter. Helikon Investments Ltd acquired a new position in shares of Sandstorm Gold during the first quarter valued at approximately $6,771,000. EdgePoint Investment Group Inc. acquired a new position in shares of Sandstorm Gold during the first quarter valued at approximately $6,537,000. American Century Companies Inc. raised its holdings in shares of Sandstorm Gold by 1,787.2% during the third quarter. American Century Companies Inc. now owns 1,049,830 shares of the company’s stock valued at $4,893,000 after acquiring an additional 994,200 shares during the last quarter. Finally, Capital International Investors raised its holdings in shares of Sandstorm Gold by 3.1% during the fourth quarter. Capital International Investors now owns 14,452,440 shares of the company’s stock valued at $72,696,000 after acquiring an additional 434,460 shares during the last quarter. Institutional investors and hedge funds own 51.97% of the company’s stock.

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.