Scotiabank Forecasts Strong Price Appreciation for Sandstorm Gold (NYSE:SAND) Stock

Sandstorm Gold (NYSE:SAND) had its price objective upped by stock analysts at Scotiabank from $7.25 to $8.25 in a report issued on Monday,Benzinga reports. The brokerage presently has a “sector perform” rating on the stock. Scotiabank’s price objective points to a potential downside of 1.96% from the company’s previous close.

A number of other research firms also recently weighed in on SAND. HC Wainwright cut their price target on Sandstorm Gold from $12.00 to $11.50 and set a “buy” rating for the company in a research note on Wednesday, February 19th. StockNews.com upgraded shares of Sandstorm Gold from a “hold” rating to a “buy” rating in a research note on Wednesday, February 26th. Raymond James reaffirmed an “outperform” rating on shares of Sandstorm Gold in a research note on Friday, April 4th. Finally, Royal Bank of Canada raised their target price on Sandstorm Gold from $6.50 to $7.00 and gave the company an “outperform” rating in a report on Friday, April 4th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $9.06.

Sandstorm Gold Stock Up 3.9 %

SAND stock opened at $8.42 on Monday. The company’s 50 day simple moving average is $6.77 and its 200-day simple moving average is $6.13. Sandstorm Gold has a 52-week low of $4.92 and a 52-week high of $8.48. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.95 and a quick ratio of 2.29. The firm has a market capitalization of $2.49 billion, a P/E ratio of 168.33 and a beta of 0.90.

Sandstorm Gold (NYSE:SAND) last issued its quarterly earnings results on Tuesday, February 18th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.03). Sandstorm Gold had a net margin of 8.11% and a return on equity of 0.98%. The business had revenue of $47.40 million for the quarter, compared to analysts’ expectations of $67.49 million. During the same quarter in the prior year, the firm posted ($0.04) EPS. As a group, equities research analysts anticipate that Sandstorm Gold will post 0.18 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Cantor Fitzgerald L. P. bought a new position in Sandstorm Gold during the fourth quarter valued at about $56,000. Lifeworks Advisors LLC acquired a new stake in shares of Sandstorm Gold during the 4th quarter worth approximately $57,000. Meixler Investment Management Ltd. bought a new stake in shares of Sandstorm Gold during the fourth quarter valued at approximately $66,000. JTC Employer Solutions Trustee Ltd acquired a new position in shares of Sandstorm Gold in the fourth quarter valued at $72,000. Finally, Bank of New York Mellon Corp lifted its position in Sandstorm Gold by 21.0% in the fourth quarter. Bank of New York Mellon Corp now owns 13,897 shares of the company’s stock worth $78,000 after purchasing an additional 2,416 shares during the period. Institutional investors 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.