Canaccord Genuity Group Forecasts Strong Price Appreciation for Sandstorm Gold (TSE:SSL) Stock

Sandstorm Gold (TSE:SSL) had its price target raised by equities research analysts at Canaccord Genuity Group from C$12.25 to C$12.75 in a report issued on Wednesday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective would indicate a potential upside of 19.94% from the stock’s previous close.

Other analysts have also issued research reports about the company. Raymond James cut their price objective on Sandstorm Gold from C$8.50 to C$8.25 and set an “outperform” rating for the company in a report on Thursday, February 20th. CIBC cut their price target on shares of Sandstorm Gold from C$10.00 to C$9.50 and set a “neutral” rating for the company in a report on Thursday, February 20th.

Sandstorm Gold Stock Performance

SSL opened at C$10.63 on Wednesday. The business has a 50 day moving average price of C$9.52 and a two-hundred day moving average price of C$8.63. The company has a debt-to-equity ratio of 26.44, a current ratio of 2.29 and a quick ratio of 1.17. The company has a market capitalization of C$2.23 billion, a price-to-earnings ratio of 70.73, a price-to-earnings-growth ratio of 0.90 and a beta of 1.11. Sandstorm Gold has a 1-year low of C$6.93 and a 1-year high of C$11.07.

About Sandstorm Gold

Sandstorm Gold Ltd. operates as a gold royalty company. The company focuses on acquiring royalties and gold and other metals purchase agreements from companies that have advanced stage operating mines. It offers upfront payments for companies to acquire a stream and receives the right to purchase a percentage of a mine's production for the life of the mine.