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

Sandstorm Gold (NYSE:SAND) had its price target boosted by stock analysts at Scotiabank from $6.75 to $7.25 in a report released on Thursday,Benzinga reports. The brokerage presently has a “sector perform” rating on the stock. Scotiabank’s target price indicates a potential upside of 18.08% from the stock’s previous close.

Several other research analysts have also recently weighed in on SAND. HC Wainwright decreased their price target on shares of Sandstorm Gold from $12.00 to $11.50 and set a “buy” rating on the stock in a report on Wednesday, February 19th. StockNews.com upgraded Sandstorm Gold from a “hold” rating to a “buy” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $8.56.

Sandstorm Gold Stock Performance

Shares of SAND opened at $6.14 on Thursday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.29 and a current ratio of 1.95. The stock has a market capitalization of $1.82 billion, a price-to-earnings ratio of 122.82 and a beta of 1.10. Sandstorm Gold has a 52-week low of $4.09 and a 52-week high of $6.67. The stock’s 50-day simple moving average is $5.91 and its 200 day simple moving average is $5.85.

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

Institutional Investors Weigh In On Sandstorm Gold

Large investors have recently added to or reduced their stakes in the company. Allworth Financial LP bought a new position in shares of Sandstorm Gold during the 3rd quarter valued at about $60,000. Cantor Fitzgerald L. P. purchased a new position in shares of Sandstorm Gold during the fourth quarter worth approximately $56,000. Lifeworks Advisors LLC bought a new stake in shares of Sandstorm Gold in the 4th quarter worth approximately $57,000. Meixler Investment Management Ltd. purchased a new stake in shares of Sandstorm Gold in the 4th quarter valued at $66,000. Finally, JTC Employer Solutions Trustee Ltd bought a new position in shares of Sandstorm Gold during the 4th quarter valued at $72,000. Hedge funds and other 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.