Sandstorm Gold (NYSEAMERICAN:SAND) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of Sandstorm Gold (NYSEAMERICAN:SAND) from a buy rating to a hold rating in a research note published on Saturday morning, Zacks.com reports.

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. “

Other equities research analysts have also recently issued research reports about the stock. Canaccord Genuity reiterated a buy rating on shares of Sandstorm Gold in a research report on Friday, July 19th. CIBC reiterated a hold rating on shares of Sandstorm Gold in a research report on Monday, July 15th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of Buy and an average price target of $6.63.

Shares of SAND stock opened at $6.34 on Friday. Sandstorm Gold has a 52-week low of $3.47 and a 52-week high of $7.02.

Sandstorm Gold (NYSEAMERICAN:SAND) last announced its quarterly earnings data on Monday, August 12th. The mining company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.01). The firm had revenue of $21.49 million for the quarter, compared to the consensus estimate of $23.00 million.

Hedge funds and other institutional investors have recently modified their holdings of the company. Legal & General Group Plc boosted its stake in Sandstorm Gold by 125.7% during the 4th quarter. Legal & General Group Plc now owns 6,896 shares of the mining company’s stock worth $32,000 after acquiring an additional 3,840 shares during the last quarter. Epstein & White Financial LLC bought a new position in Sandstorm Gold during the 2nd quarter worth approximately $55,000. Geode Capital Management LLC boosted its stake in Sandstorm Gold by 61.2% during the 4th quarter. Geode Capital Management LLC now owns 18,071 shares of the mining company’s stock worth $82,000 after acquiring an additional 6,863 shares during the last quarter. Two Sigma Advisers LP bought a new position in Sandstorm Gold during the 4th quarter worth approximately $108,000. Finally, FNY Investment Advisers LLC bought a new position in Sandstorm Gold during the 2nd quarter worth approximately $109,000.

Sandstorm Gold Company Profile

Sandstorm Gold Ltd. operates as a gold royalty company. It focuses on acquiring gold and other metal purchase agreements and royalties from companies that have advanced stage development projects or operating mines. The company offers upfront payments for companies to acquire a gold stream or royalty and receives the right to purchase a percentage of a mine's production for the life of the mine at a fixed price per unit or at a fixed percentage of the spot price.

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Analyst Recommendations for Sandstorm Gold (NYSEAMERICAN:SAND)

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