Sandstorm Gold Soars 5.12% on Record Q2 Revenue

Sandstorm Gold (SAND) surged 5.12% today, marking its second consecutive day of gains, with a total increase of 11.44% over the past two days. The share price reached its highest level since April 2022, with an intraday gain of 7.61%.

Sandstorm Gold reported a significant 26.4% year-over-year increase in Q2 preliminary revenues, reaching a record $50 million. This substantial growth in revenue has likely contributed to the positive market sentiment surrounding the company, driving its stock price higher.

Analysts have also weighed in on Sandstorm Gold's prospects. Canaccord Genuity raised its 12-month target price for the company from C$12.25 to C$12.75, reflecting a more optimistic outlook. Meanwhile, HC Wainwright reduced their target price from $12.00 to $11.50 but maintained a "buy" rating, indicating continued confidence in the company's long-term potential. Raymond James reissued an "outperform" rating on Sandstorm Gold's shares, further bolstering investor confidence.

These positive developments, including record revenues and favorable analyst ratings, have collectively contributed to Sandstorm Gold's recent stock price performance, reflecting a bullish market sentiment and strong investor interest in the company's future prospects.