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Canaccord Genuity Group Issues Positive Forecast for Sandstorm Gold (TSE:SSL) Stock Price

Sandstorm Gold logo with Basic Materials background

Key Points

  • Canaccord Genuity Group has raised its target price for Sandstorm Gold (TSE:SSL) from C$18.50 to C$22.00, suggesting a potential upside of 27.39%.
  • Several other firms have recently adjusted their ratings on Sandstorm Gold, with CIBC lowering its rating from "neutral" to "tender" and TD Securities moving from "strong-buy" to "strong sell".
  • The stock experienced a 0.8% decline on Thursday, trading at C$17.27, amidst a market cap of C$5.06 billion and a significant price-to-earnings ratio of 143.92.
  • MarketBeat previews top five stocks to own in November.

Sandstorm Gold (TSE:SSL - Get Free Report) had its target price raised by equities researchers at Canaccord Genuity Group from C$18.50 to C$22.00 in a research note issued to investors on Thursday,BayStreet.CA reports. Canaccord Genuity Group's target price indicates a potential upside of 27.39% from the stock's current price.

A number of other research firms have also recently weighed in on SSL. CIBC cut shares of Sandstorm Gold from a "neutral" rating to a "tender" rating and raised their price objective for the stock from C$13.50 to C$16.50 in a report on Monday, September 15th. Stifel Canada cut Sandstorm Gold from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 21st. Finally, TD Securities cut shares of Sandstorm Gold from a "strong-buy" rating to a "strong sell" rating and set a C$14.00 target price on the stock. in a report on Thursday, July 10th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Sandstorm Gold currently has an average rating of "Hold" and a consensus price target of C$14.75.

Read Our Latest Analysis on SSL

Sandstorm Gold Stock Down 0.8%

Shares of SSL traded down C$0.14 during mid-day trading on Thursday, hitting C$17.27. 325,429 shares of the company's stock were exchanged, compared to its average volume of 605,834. The company has a market cap of C$5.06 billion, a price-to-earnings ratio of 143.92, a P/E/G ratio of 0.90 and a beta of 0.66. Sandstorm Gold has a fifty-two week low of C$7.47 and a fifty-two week high of C$17.63. The company has a debt-to-equity ratio of 26.44, a quick ratio of 1.17 and a current ratio of 2.29. The stock's 50-day moving average is C$15.16 and its 200-day moving average is C$13.01.

About Sandstorm Gold

(Get Free Report)

Sandstorm Gold Ltd provides financing to companies engaged in gold mining through gold stream and royalty. Geographically, the company has operational footprints in North America, South & Central America, Africa, and Asia & Australia. The firm's royalties include Hod Maden, Santa Elena, Chapada, and Cerro Moro.

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