Analysts and options traders bullish on Sandstorm Gold

With gold moving higher and the market looking bearish this week, analysts and options traders are looking bullish on Sandstorm Gold. Options traders are looking for about $8.00 per share by the end of next week, and analysts have boosted the stock's summary score from 2.2/10 to 9/10 over the last month. Sandstorm honestly looks overvalued to me, with a P/E of 112 and a forward P/E of 81, but it beat analyst expectations on its last earnings report and might beat again if gold prices go up. Short interest in Sandstorm is relatively low, and the chart looks bullish as the stock hovers near a resistance level.

Comment:

With the market returning to strength, I exited this today.