|Over a month ago|
Street Wrap: Today's Top 15 Upgrades, Downgrades, Initiations » 09:5908/1708/17/22
AAPL, DKNG, SJM, WLK, SAND, TDOC, YUM, TTWO, FUBO, WEBR, RBLX, ADSK, TTD, MKTX, TW, CME, ICE, CBOE, NDAQ, IBM
Sandstorm Gold upgraded to Outperform from Market Perform at BMO Capital » 06:3108/1708/17/22
BMO Capital analyst Rene…
BMO Capital analyst Rene Cartier resumed coverage and upgraded Sandstorm Gold to Outperform from Market Perform with a price target of $9.00, down from $9.50. The company has significantly increased its scale, enhanced its diversification, and added a number of long-life assets to the portfolio, the analyst tells investors in a research note. Thanks to its strong share liquidity, Cartier sees Sandstorm as the "go-to name" amongst middle-market royalty and streaming companies.
Sandstorm Gold price target raised to C$10.50 from C$10 at TD Securities » 10:5308/1608/16/22
TD Securities analyst…
TD Securities analyst Derick Ma raised the firm's price target on Sandstorm Gold to C$10.50 from C$10 and keeps a Buy rating on the shares.
Sandstorm Gold resumed with an Outperform at National Bank » 06:0508/1608/16/22
National Bank analyst…
National Bank analyst Shane Nagle resumed coverage of Sandstorm Gold with an Outperform rating with a price target of C$11.50, down from C$12.50 prior to the firm's restriction on coverage. The company will have to digest recent acquisitions, but "deleveraging occurs quickly in the current price environment" and Sandstorm's more diversified and expanded portfolio warrants a re-rating towards that of larger-cap peers, Nagle tells investors.
Sandstorm's shareholders approve acquisition of Nomad Royalty » 16:4408/0908/09/22
Sandstorm Gold (SAND)…
Sandstorm Gold (SAND) announced that at its special meeting of shareholders held earlier today, the Company's shareholders approved the resolution for the issuance of common shares of Sandstorm in connection with the arrangement whereby Sandstorm will acquire all of the issued and outstanding common shares of Nomad Royalty Company (NSR) at an exchange ratio of 1.21 Sandstorm Shares for each common share of Nomad. The Resolution was approved by approximately 99% of votes cast by Sandstorm shareholders at the Meeting. Detailed voting results for the Resolution are as follows:
Sandstorm Gold price target lowered to C$13.50 from C$14 at Stifel » 12:0407/2007/20/22
Stifel analyst Ingrid…
Stifel analyst Ingrid Rico lowered the firm's price target on Sandstorm Gold to C$13.50 from C$14 and keeps a Buy rating on the shares.
Sandstorm Gold expects Q2 revenue of $36M » 08:2207/0507/05/22
Sandstorm Gold reports…
Sandstorm Gold reports that the Company sold approximately 19,200 attributable gold equivalent ounces and realized preliminary revenue of $36M during the three months ended June 30, 2022, all representing a record for the Company. Preliminary cost of sales, excluding depletion for the three month period was $5.3 million resulting in cash operating margins of approximately $1,590 per attributable gold equivalent ounce.
|Over a quarter ago|
Royal Gold upgraded to Buy from Hold at Canaccord » 07:1706/1306/13/22
Canaccord analyst Carey…
Canaccord analyst Carey MacRury upgraded Royal Gold (RGLD) to Buy from Hold with a price target of $140, down from $151, as he updated his views on mining royalty companies following the Q1 reporting season. Though the stream deal flow in 2022 is "off to a good start," it is likely to pause on market volatility, MacRury tells investors. Royalty companies offer precious metals exposure without the cost inflation risk, added MacRury, who notes that Sandstorm Gold (SAND) and Royal Gold have been the best performers year-to-date in U.S. dollar terms.
Sandstorm Gold files early warning report Entree Resources » 08:1305/2605/26/22
Sandstorm Gold (SAND) is…
Sandstorm Gold (SAND) is divesting its approximately 25% stake in common shares of Entree Resources (ERLFF) to 1363013 B.C. Ltd., a wholly-owned subsidiary of Royalty North Partners. Sandstorm and RNP signed a letter of intent, as amended and restated on May 1, whereby Horizon Copper will acquire certain assets from Sandstorm, including 49,672,515 Entree Shares representing approximately 25.2% of the outstanding Entree Shares. Sandstorm and Horizon Copper have entered into a definitive agreement for the sale of its Entree Shares, for a deemed value of C$0.87 per Entree Share, in consideration for a promissory note in the principal amount of C$43.2M. The 49,672,515 Entree Shares represent approximately 25.2% of the outstanding Entree Shares or 25.7% of the outstanding Entree Shares. Upon completion of the Disposition, no Entree Shares and 1,200,000 Entree Warrants will be owned by Sandstorm. Subject to RNP obtaining the acceptance of the TSX Venture Exchange, the Disposition is expected to be completed on or about May 31. Sandstorm is proceeding with the Disposition for investment portfolio management purposes.
Sandstorm Gold and Equinox Gold launch Sandbox Royalties company » 08:0805/2605/26/22
Sandstorm Gold (SAND) and…
Sandstorm Gold (SAND) and Equinox Gold (EQX) announced the creation of Sandbox Royalties, a new diversified metals royalty company. Equinox Gold and Sandstorm have each entered into definitive purchase and sale agreements with Rosedale Resources whereby Rosedale will acquire a portfolio of royalties from Equinox Gold for consideration of $28.4M in common shares of Rosedale and from Sandstorm for consideration of $65M comprising $32.1M in common shares of Rosedale and $32.9M in a promissory note convertible into common shares of Rosedale. Upon closing, Rosedale intends to change its corporate name to Sandbox Royalties. Sandbox will have exposure to a range of resource royalties including gold, silver, copper, zinc, graphite and uranium, immediate cash flow from producing royalties. Sandbox will be led by Greg Smith as President and CEO. Sandstorm and Equinox Gold will hold a 34% and 30% basic interest, respectively, in Sandbox. Post-completion of the transaction, Sandbox intends to seek a public listing on a Canadian stock exchange. The transaction and the financing are expected to be completed by the end of June 2022 or such other date as the parties may agree, and closing will be subject to customary approvals and closing conditions.