10 Best Gold Mining Companies to Invest in

2. Sandstorm Gold Ltd. (NYSE:SAND)

Current Price: $ 5.75

Upside Potential: 29%

Sandstorm Gold Ltd. (NYSE:SAND) is a gold royalty company that secures the right to a share of a mine’s gold production by providing upfront funding to miners. The company has acquired 230 royalties on mining projects worldwide.

In the first quarter of 2024, Sandstorm Gold reported a decrease in revenue and income, with revenue at $42.8 million compared to $44 million in the first quarter of 2023, and a net loss of $3.9 million compared to a net income of $15.6 million a year earlier. This decline was attributed to a 12% reduction in gold equivalent ounces (GEO) sold, a $10 million decrease in other income related to royalty payments, and a loss from the fair value assessment of a debenture investment.

Despite this, Sandstorm Gold has seen its share price increase by 4.5% over the past month and 10.71% year-to-date (YTD). Analysts are optimistic about the stock, predicting it could rise to $7.44 from its current price of $5.58, representing a potential upside of 33.3%. Additionally, the stock’s popularity among hedge fund holders has grown, with four more funds investing in the company, bringing the total to 16, holding $72.4 million as of Q1 2024.