5 Cheap Gold Stocks To Buy According to Analysts

3. Sandstorm Gold Ltd. (NYSE:SAND)

Average Price Target Upside: 55.49%

Average Price Target: $8.21

Sandstorm Gold Ltd. (NYSE:SAND) is a gold royalty company headquartered in Vancouver, Canada. The company’s average analyst price target is 55.49% over its August 2 stock price of $5.28. On July 21, National Bank analyst Shane Nagle reaffirmed an Outperform rating on Sandstorm Gold Ltd. (NYSE:SAND)’ shares and raised its price target to C$9.50 from C$9.25.

Sandstorm Gold Ltd. (NYSE:SAND) generated record revenues for the second quarter of 2023. During the three months ending June 30, the company sold 24,500 gold equivalent ounces (GEO) and generated a revenue of $49.8 million compared to 19,276 attributable GEO and $36 million revenue in the same quarter last year.

In the first quarter, 14 hedge funds held a stake worth $95.218 million in Sandstorm Gold Ltd. (NYSE:SAND).

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