Sandstorm Gold Has Outperform Rating, C$10.75 Price Target at National Bank of Canada

MT Newswires2024-11-28

Sandstorm Gold (SSL.TO) keeps its Outperform rating and C$10.75 price target, National Bank of Canada said in a Thursday note after the company late yesterday provided updates on its key growth assets...

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National's current Base Case accounts for initial production in 2029 from Hod Maden of near 30,000 GEOs as well as 20,000 GEOs from MARA . However, National anticipates project sanctioning from Glencore sometime in the second half of 2025.\"The company continues to focus on deleveraging efforts which can occur quickly given the current commodity price environment,\" National Bank said. \"The market view of the stock should improve as SSL lowers debt and allows organic ","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":["rate"],"viewcount":null,"language":"en","relate_stocks":{"SAND":"沙尘暴黄金"},"translate_title":"加拿大国家银行给予Sandstorm Gold跑赢大盘评级，目标价10.75加元","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"SAND":0.9},"content_text":"Sandstorm Gold (SSL.TO) keeps its Outperform rating and C$10.75 price target, National Bank of Canada said in a Thursday note after the company late yesterday provided updates on its key growth assets.\n\n National said its Outperform rating is supported by Sandstorm's asset diversification and long-term growth outlook, an improving balance sheet and a discounted valuation.\n\n It added the price target is based on a weighted multiple of 1.2x NAV (33%) + 20.0x EV/2025E CF (33%) + 20.0x EV/2026E CF (33%).\n\n In summary, National said results support Sandstorm's five year guidance of 125,000 GEOs in the next five years compared to an NBF Estimate near 135,150 GEOs in 2029. National's current Base Case accounts for initial production in 2029 from Hod Maden of near 30,000 GEOs as well as 20,000 GEOs from MARA (which is not included in SSL's guidance). However, National anticipates project sanctioning from Glencore sometime in the second half of 2025.\n\n \"The company continues to focus on deleveraging efforts which can occur quickly given the current commodity price environment,\" National Bank said. \"The market view of the stock should improve as SSL lowers debt and allows organic growth within the portfolio to materialize.\"\n\n Sandstorm's share price was down 0.3% at last look to $8.17 on the TSX.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.4","shortVersion":"4.29.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2487345518"}