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Gold/Mining/Energy : Sandstorm Gold

SAND 12.12

0.0%

Oct 24 9:44 AM EST

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From: kidl	7/8/2016 8:19:01 AM
	of 1133

Globe says Kaip rates Sandstorm Gold "outperform" Sandstorm Gold Ltd (2) (C:SSL) Shares Issued 150,164,352 Last Close 7/7/2016 $6.12 Friday July 8 2016 - In the News The Globe and Mail reports in its Friday edition that Raymond James analyst Phil Russo says Sandstorm Gold continues to make progress at becoming a stronger, more diverse company. The Globe's David Leeder writes that Mr. Russo resumed coverage of the stock following the closing of its $57.5-million (U.S.) equity financing with an "outperform" rating. Mr. Russo boosted his share target to $7.25 (Canadian) from $6.75 (Canadian). Analysts on average target the shares at $6.88 (Canadian). Mr. Russo is forecasting a 50-per-cent increase in cash flow from 2016 to 2019 due to recently acquired cash flow streams being realized. Mr. Russo says in a note: "The financing provides the company the needed balance sheet flexibility to pursue further potential acquisitions in the mold of those recently acquired over the last 12 months. Those acquisitions have been favourably received by the market and seen a restoration in sentiment towards the name. Coupled with some of its streams falling into stronger hands through sector M&A, the investment case for Sandstorm continues to strengthen, in our view." BMO analyst Andrew Kaip maintained a "market perform" rating with a target of $5.50 (U.S.), up from $5 (U.S.). © 2016 Canjex Publishing Ltd.

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