Sandstorm Gold (SAND) Downgraded by Zacks Investment Research to Sell

Zacks Investment Research downgraded shares of Sandstorm Gold (NYSEAMERICAN:SAND) from a hold rating to a sell rating in a report released on Tuesday morning.

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. “

Shares of NYSEAMERICAN SAND opened at $4.10 on Tuesday. Sandstorm Gold has a 12-month low of $3.52 and a 12-month high of $5.64.

Several hedge funds and other institutional investors have recently modified their holdings of SAND. Tower Research Capital LLC TRC boosted its position in shares of Sandstorm Gold by 251.5% during the second quarter. Tower Research Capital LLC TRC now owns 23,202 shares of the mining company’s stock worth $104,000 after buying an additional 16,602 shares during the period. Natixis acquired a new position in shares of Sandstorm Gold during the first quarter worth approximately $110,000. Community Financial Services Group LLC acquired a new position in shares of Sandstorm Gold during the second quarter worth approximately $135,000. Resources Investment Advisors Inc. boosted its position in shares of Sandstorm Gold by 81.4% during the second quarter. Resources Investment Advisors Inc. now owns 36,317 shares of the mining company’s stock worth $163,000 after buying an additional 16,300 shares during the period. Finally, BlackRock Inc. boosted its position in shares of Sandstorm Gold by 132.0% during the second quarter. BlackRock Inc. now owns 38,943 shares of the mining company’s stock worth $175,000 after buying an additional 22,156 shares during the period.

Sandstorm Gold Company Profile

Sandstorm Gold Ltd. operates as a gold streaming and royalty company. It has a portfolio of 174 streams and royalties in Canada, the United States, Australia, Honduras, Brazil, Peru, Chile, Argentina, Australia, Turkey, French Guiana, South Africa, Paraguay, Botswana, Sweden, Mongolia, Mexico, and Cote d'Ivoire.

Recommended Story: Short Selling

Get a free copy of the Zacks research report on Sandstorm Gold (SAND)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Sandstorm Gold Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sandstorm Gold and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply