Short Interest in Sandstorm Gold Ltd (NYSEAMERICAN:SAND) Increases By 15.3%

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Sandstorm Gold Ltd (NYSEAMERICAN:SAND) saw a significant increase in short interest in January. As of January 31st, there was short interest totalling 638,800 shares, an increase of 15.3% from the January 15th total of 553,900 shares. Based on an average daily volume of 1,840,000 shares, the days-to-cover ratio is currently 0.3 days. Approximately 0.4% of the shares of the stock are sold short.

Sandstorm Gold stock opened at $7.13 on Friday. Sandstorm Gold has a 1 year low of $4.96 and a 1 year high of $7.67.

Sandstorm Gold (NYSEAMERICAN:SAND) last released its quarterly earnings data on Thursday, February 13th. The mining company reported $0.03 EPS for the quarter, hitting the consensus estimate of $0.03. The firm had revenue of $24.00 million for the quarter, compared to analysts’ expectations of $23.00 million.

A number of hedge funds have recently modified their holdings of SAND. Moors & Cabot Inc. grew its stake in Sandstorm Gold by 9.9% in the third quarter. Moors & Cabot Inc. now owns 21,975 shares of the mining company’s stock valued at $124,000 after purchasing an additional 1,975 shares during the last quarter. Sigma Planning Corp grew 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 buying an additional 2,300 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Sandstorm Gold by 25.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,181 shares of the mining company’s stock worth $91,000 after buying an additional 2,470 shares during the last quarter. Commerzbank Aktiengesellschaft FI grew its position in shares of Sandstorm Gold by 6.5% in the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 60,252 shares of the mining company’s stock worth $340,000 after buying an additional 3,700 shares during the last quarter. Finally, Advisory Services Network LLC raised its stake in shares of Sandstorm Gold by 47.8% during the 4th quarter. Advisory Services Network LLC now owns 13,720 shares of the mining company’s stock worth $102,000 after acquiring an additional 4,439 shares in the last quarter.

SAND has been the subject of several analyst reports. Zacks Investment Research raised Sandstorm Gold from a “hold” rating to a “buy” rating and set a $7.75 price objective for the company in a research note on Wednesday. Raymond James set a $7.00 target price on Sandstorm Gold and gave the company an “outperform” rating in a research report on Friday, November 1st. Finally, CIBC upgraded Sandstorm Gold from a “neutral” rating to a “sector outperform” rating and set a $11.25 price target on the stock in a report on Thursday, October 31st. Four research analysts have rated the stock with a buy rating, Sandstorm Gold has an average rating of “Buy” and a consensus target price of $8.67.

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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