RBC Capital analyst Josh Wolfson upgraded Sandstorm Gold to Outperform from Sector Perform with an unchanged price target of $6.50. The company has diversified its asset base via large acquisitions, advanced growth via permitting its cornerstone Hod Maden project, and reset guidance to more achievable targets in the past year, the analyst tells investors in a research note. Following the share price underperformance related to equity dilution in 2022, Sandstorm’s valuation is now "materially discounted" versus peers while offering "peer-leading growth," says the firm.
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Published first on TheFly
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