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Gold/Mining/Energy : Sandstorm Gold
SAND 12.120.0%Oct 24 9:44 AM EST
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From: kidl9/28/2020 9:26:44 AM
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Globe says new coverage rates Sandstorm Gold "buy"

Sandstorm Gold Ltd (2) (C:SSL)
Shares Issued 191,057,203
Last Close 9/25/2020 $11.14
Monday September 28 2020 - In the News

The Globe and Mail reports in its Saturday edition that H.C. Wainwright & Co. analyst Heiko Ihle rates Sandstorm Gold "buy" in new coverage. The Globe's David Leeder writes that Mr. Ihle set a share target of $14 (all figures U.S.). Analysts on average target the shares at $10. Mr. Ihle says in a note: "Since Sandstorm's first acquisition in FY09, the company has accumulated a comprehensive portfolio of roughly 200 royalties and streams on assets in varying developmental stages. Sandstorm maintains royalties and streams on 24 producing assets. The firm currently has access to a $225-million credit facility and an uncommitted $75-million accordion, which is expected to provide readily available capital for further acquisitions. We note that a majority of the 24 producing projects are precious and base metal focused. In turn, we highlight the company's strong leverage to rising gold and silver prices, as Sandstorm expects its gold equivalent ounce production to reach roughly 125,000 GEOs in FY24, compared with less than 64,000 GEOs in FY19. In short, Sandstorm's exposure to metal prices through its growing production profile offers a unique investment strategy with a substantial reduction in its risk profile."

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