The Globe and Mail reports in its Thursday, June 12, edition that Canaccord Genuity analyst Carey MacRury boosted his share target for Sandstorm Gold to $17 from $15.75. The Globe's Tim Shufelt writes in the Eye On Equities column that Mr. MacRury hiked his share targets on several mining royalty companies following first quarter financial results from asset operators, while highlighting Sandstorm Gold as the top pick in the space due to the company's "growth profile, ongoing deleveraging and inexpensive valuation." It was a quarter that saw strong acquisition activity, with about $1.8-billion in deals announced so far this year, including Franco-Nevada's acquisition of a 7.5-per-cent gross margin royalty on the Cote/Gosselin complex in Northern Ontario. The group of royalty companies had a blockbuster quarter with an average return of 44 per cent, outperforming the rise in gold prices of around 26 per cent. Valuations are still in line with historical averages, however, at about 1.48 times net asset value. The Globe reported on Sept. 11 that RBC Dominion Securities rated Sandstorm Gold "outperform." The shares could then be had for $7.67.