Bank of Montreal Can acquired a new stake in Sandstorm Gold Ltd (NASDAQ:SAND) during the second quarter, Holdings Channel reports. The institutional investor acquired 725,585 shares of the company’s stock, valued at approximately $3,236,000.
Separately, Barometer Capital Management Inc. acquired a new stake in shares of Sandstorm Gold during the second quarter valued at $446,000.
Sandstorm Gold Ltd (NASDAQ:SAND) traded down 2.14% during trading on Friday, reaching $4.58. The company’s stock had a trading volume of 1,395,165 shares. The stock has a 50-day moving average price of $5.34 and a 200 day moving average price of $4.77. Sandstorm Gold Ltd has a 52-week low of $1.94 and a 52-week high of $6.75. The company’s market cap is $688.83 million.
Several brokerages recently weighed in on SAND. BMO Capital Markets restated a “market perform” rating and set a $5.50 price objective (up from $5.00) on shares of Sandstorm Gold in a research report on Thursday, July 7th. Zacks Investment Research downgraded Sandstorm Gold from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 6th. TD Securities restated a “buy” rating and set a $9.50 price objective (up from $8.50) on shares of Sandstorm Gold in a research report on Thursday, August 4th. Canaccord Genuity upgraded Sandstorm Gold from a “hold” rating to a “buy” rating in a research report on Monday, October 3rd. Finally, CIBC upgraded Sandstorm Gold from a “sector perform” rating to a “sector outperform” rating in a research report on Monday, July 11th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $7.44.
About Sandstorm Gold
Sandstorm Gold Ltd. is engaged in providing financing alternatives to mining companies. The Company focuses on acquiring gold and other precious metal purchase agreements (Gold Streams or Silver Streams), and royalties from companies that have advanced stage development projects or operating mines. It operates in the segments of Bachelor Lake, Black Fox, Santa Elena, Yamana Silver Stream, Chapada, Diavik Mine, Other Royalties, Other and Corporate.
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