Why Shares of Sandstorm Gold Are Falling Today
After rising higher on each of the last four trading days, shares of Sandstorm Gold (NYSE: SAND) are giving back some of their gains today. While the general bearish sentiment sweeping through the market on Wednesday is motivating some investors to exit their positions, others are selling the stock in response to an analyst's revised price target and the falling price of gold.
As of 11 a.m. ET on Wednesday, shares of Sandstorm Gold were down 4.3%, mitigating their loss of 6.1% earlier in the day.
Resuming coverage on Sandstorm Gold, Rene Cartier, an analyst at BMO Capital, rated the stock as outperform with a price target of $8. While the outperform rating is bullish, Cartier's price target of $8 is lower than his earlier target of $9. It seems that this less-auspicious view of the stock's upside is what's irking gold bugs today.
Source Fool.com
