CIBC Lowers Sandstorm Gold (TSE:SSL) Price Target to C$9.50

Sandstorm Gold (TSE:SSL) had its price objective lowered by CIBC from C$10.00 to C$9.50 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. The firm currently has a “neutral” rating on the stock. CIBC’s price target would suggest a potential upside of 8.82% from the stock’s current price.

Separately, Raymond James decreased their target price on Sandstorm Gold from C$8.50 to C$8.25 and set an “outperform” rating on the stock in a report on Thursday.

Sandstorm Gold Stock Up 2.6 %

Shares of TSE:SSL traded up C$0.22 during mid-day trading on Thursday, hitting C$8.73. 345,972 shares of the company traded hands, compared to its average volume of 380,523. Sandstorm Gold has a 52-week low of C$5.42 and a 52-week high of C$9.48. The firm’s 50 day simple moving average is C$8.34 and its 200 day simple moving average is C$8.09. The company has a debt-to-equity ratio of 26.44, a quick ratio of 1.17 and a current ratio of 2.29. The firm has a market cap of C$1.83 billion, a P/E ratio of 58.09, a PEG ratio of 0.90 and a beta of 1.11.

Insiders Place Their Bets

In related news, Director David Awram sold 50,000 shares of the firm’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of C$8.06, for a total transaction of C$403,000.00. Company insiders own 1.20% of the company’s stock.

About Sandstorm Gold

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.