#4 - Sandstorm Gold (SAND) (NYSE:SAND)
Trading at $5.18 as of this writing, Sandstorm Gold Ltd. (NYSE: SAND) may not be considered a true penny stock. But it’s been in-and-out of penny stock range for much of the last 12 months as SAND stock has underperformed other mining stocks.
Still, gold mining stocks seem like a good investment based on supply and demand. Gold outperformed equity indexes in 2022 and many industry insiders believe that gold will finish 2023 above the $2,000 mark and likely higher.
As a diversified metals royalty company, Sandstrom receives a percentage of the gold production or revenue from a mining company. This gives Sandstorm a revenue stream that is fairly predictable, but it has caused the company to take on significant debt in the past year.
In the company’s first quarter 2023 earnings report in May, Sandstorm reported earnings per share of 6 cents which was higher than analysts’ expectations of 4.3 cents per share. That puts the company on track to come in above 2022 earnings.
The Sandstorm Gold analyst ratings on MarketBeat give SAND stock a buy rating with an $8.94 price target which would be a gain of over 72% from the stock’s current level.
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.
More- Current Price
- $6.25
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 2 Buy Ratings, 2 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $8.50 (36.1% Upside)
