The Globe and Mail reports in its Friday, July 21, edition that National Bank Financial analyst Shane Nagle rates Sandstorm Gold "outperform" and targets the shares at $9.50. The Globe's David Leeder writes in the Eye On Equities column that analysts on average target the shares at $10.43. Mr. Nagle says in a note: "We highlight Sandstrom Gold as our top pick in the royalty space given the company's growth outlook post the acquisitions of Nomad and BaseCore. Sandstorm continues to trade at a discounted 1.09 times NAV, compared to junior royalty and streaming peers (TFPM and OR) at 1.24 times. While the company will have to digest recent acquisitions, deleveraging can occur quickly in the current price environment as in doing so is expected to achieve a more normalized multiple in the market. We continue to anticipate consolidation within the royalty sector and the more diversified and expanded portfolio is attractive for potential consolidation." The Globe reported on Aug. 18, 2022, that BMO boosted Sandstorm Gold to "outperform" from "sector perform." It was then worth $7.73. The Globe reported on April 18, 2023, that CIBC rated Sandstorm Gold "outperformer." It was then worth $7.88.