Sandstorm Gold Ltd (NYSEAMERICAN:SAND) Sees Large Decrease in Short Interest

Sandstorm Gold Ltd (NYSEAMERICAN:SAND) was the target of a large decline in short interest in October. As of October 31st, there was short interest totalling 1,020,000 shares, a decline of 17.7% from the September 30th total of 1,240,000 shares. Currently, 0.6% of the company’s stock are short sold. Based on an average trading volume of 1,800,000 shares, the days-to-cover ratio is currently 0.6 days.

Sandstorm Gold stock opened at $6.84 on Friday. Sandstorm Gold has a fifty-two week low of $3.65 and a fifty-two week high of $7.21.

Sandstorm Gold (NYSEAMERICAN:SAND) last posted its quarterly earnings data on Wednesday, October 30th. The mining company reported $0.03 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.03. The firm had revenue of $17.72 million for the quarter, compared to the consensus estimate of $25.00 million.

SAND has been the topic of several research reports. Zacks Investment Research raised Sandstorm Gold from a “hold” rating to a “buy” rating and set a $6.75 price objective on the stock in a research report on Wednesday, October 16th. TheStreet raised Sandstorm Gold from a “c+” rating to a “b” rating in a research report on Wednesday, August 21st. Raymond James set a $7.00 price objective on Sandstorm Gold and gave the company an “outperform” rating in a research report on Friday, November 1st. Canaccord Genuity reaffirmed a “buy” rating on shares of Sandstorm Gold in a research report on Friday, August 23rd. Finally, CIBC raised Sandstorm Gold from a “neutral” rating to a “sector outperform” rating and set a $11.25 price objective on the stock in a research report on Thursday, October 31st. Six research analysts have rated the stock with a buy rating, Sandstorm Gold currently has a consensus rating of “Buy” and a consensus target price of $8.33.

Several institutional investors and hedge funds have recently modified their holdings of the company. Taylor Wealth Management Partners boosted its position in shares of Sandstorm Gold by 0.6% in the 2nd quarter. Taylor Wealth Management Partners now owns 335,590 shares of the mining company’s stock worth $1,859,000 after purchasing an additional 1,865 shares in the last quarter. Moors & Cabot Inc. boosted its position in shares of Sandstorm Gold by 9.9% in the 3rd quarter. Moors & Cabot Inc. now owns 21,975 shares of the mining company’s stock worth $124,000 after purchasing an additional 1,975 shares in the last quarter. Sigma Planning Corp boosted its position in shares of Sandstorm Gold by 20.4% in the 3rd quarter. Sigma Planning Corp now owns 13,600 shares of the mining company’s stock worth $77,000 after purchasing an additional 2,300 shares in the last quarter. Scotia Capital Inc. boosted its position in shares of Sandstorm Gold by 0.9% in the 2nd quarter. Scotia Capital Inc. now owns 316,692 shares of the mining company’s stock worth $1,746,000 after purchasing an additional 2,764 shares in the last quarter. Finally, Swiss National Bank boosted its position in shares of Sandstorm Gold by 0.9% in the 2nd quarter. Swiss National Bank now owns 335,062 shares of the mining company’s stock worth $1,860,000 after purchasing an additional 3,100 shares in the last quarter.

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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