The Globe and Mail reports in its Tuesday, Sept. 16, edition that in response to Sandstorm Gold's takeover by Royal Gold CIBC World Markets analyst Cosmos Chiu lowered his recommendation for Sandstorm to "tender" from "neutral." The Globe's David Leeder writes in the Eye On Equities column that Mr. Chiu boosted his share target to $16.50 from $13.50. Analysts on average target the shares at $14.51. Mr. Chiu says in a note: "Sandstorm Gold is the smallest of the Big Six royalty/streaming companies, and joining Royal Gold will allow the company to compete on a larger scale, within an increasingly competitive environment. We are now off research restriction and expect no competing bids for Sandstorm Gold." The Globe reported on Sept. 11 that RBC Dominion Securities rated Sandstorm Gold "outperform." The shares could then be had for $7.67. The Globe reported on June 12 that Canaccord Genuity analyst Carey MacRury called Sandstorm Gold his top pick. The shares could then be had for $12.36. The Globe reported on July 11 that TD Securities analyst Derick Ma had lowered his recommendation for Sandstorm Gold to "sell," recommending investors tender their shares to Royal Gold's takeover bid.