Most readers would already be aware that Sandstorm Gold’s (TSE:SSL) stock increased significantly by 20% over the past month. As most would know, fundamentals are what usually guide market price movements over the long-term, so we decided to look at the company’s key financial indicators today to determine if they have any role to play in the recent price movement. Particularly, we will be paying attention to Sandstorm Gold’s ROE today.

Return on equity or ROE is an important factor to be considered by a shareholder because it tells them how effectively their capital is being reinvested. Simply put, it is used to assess the profitability of a company in relation to its equity capital.

Check out our latest analysis for Sandstorm Gold

How To Calculate Return On Equity?

ROE can be calculated by using the formula:

Return on Equity = Net Profit (from continuing operations) ÷ Shareholders’ Equity

So, based on the above formula, the ROE for Sandstorm Gold is:

2.9% = US$43m ÷ US$1.5b (Based on the trailing twelve months to December 2023).

The ‘return’ is the income the business earned over the last year. That means that for every CA$1 worth of shareholders’ equity, the company generated CA$0.03 in profit.

Why Is ROE Important For Earnings Growth?

Thus far, we have learned that ROE measures how efficiently a company is generating its profits. We now need to evaluate how much profit the company reinvests or “retains” for future growth which then gives us an idea about the growth potential of the company. Generally speaking, other things being equal, firms with a high return on equity and profit retention, have a higher growth rate than firms that don’t share these attributes.

A Side By Side comparison of Sandstorm Gold’s Earnings Growth And 2.9% ROE

It is quite clear that Sandstorm Gold’s ROE is rather low. Even when compared to the industry average of 9.6%, the ROE figure is pretty disappointing. In spite of this, Sandstorm Gold was able to grow its net income considerably, at a rate of 39% in the last five years. Therefore, there could be other reasons behind this growth. Such as – high earnings retention or an efficient management in place.

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Next, on comparing with the industry net income growth, we found that Sandstorm Gold’s growth is quite high when compared to the industry average growth of 28% in the same period, which is great to see.

Earnings growth is a huge factor in stock valuation. It’s important for an investor to know whether the market has priced in the company’s expected earnings growth (or decline). By doing so, they will have an idea if the stock is headed into clear blue waters or if swampy waters await. One good indicator of expected earnings growth is the P/E ratio which determines the price the market is willing to pay for a stock based on its earnings prospects. So, you may want to check if Sandstorm Gold is trading on a high P/E or a low P/E, relative to its industry.

Is Sandstorm Gold Making Efficient Use Of Its Profits?

Sandstorm Gold has a really low three-year median payout ratio of 18%, meaning that it has the remaining 82% left over to reinvest into its business. This suggests that the management is reinvesting most of the profits to grow the business as evidenced by the growth seen by the company.

Along with seeing a growth in earnings, Sandstorm Gold only recently started paying dividends. Its quite possible that the company was looking to impress its shareholders. Our latest analyst data shows that the future payout ratio of the company is expected to rise to 49% over the next three years. Consequently, the higher expected payout ratio explains the decline in the company’s expected ROE (to 1.7%) over the same period.

Summary

On the whole, we do feel that Sandstorm Gold has some positive attributes. Even in spite of the low rate of return, the company has posted impressive earnings growth as a result of reinvesting heavily into its business. With that said, on studying the latest analyst forecasts, we found that while the company has seen growth in its past earnings, analysts expect its future earnings to shrink. Are these analysts expectations based on the broad expectations for the industry, or on the company’s fundamentals? Click here to be taken to our analyst’s forecasts page for the company.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Shafaq News/ Gold prices, both foreign and Iraqi, stabilized іn the local markets іn the capital Baghdad, while they decreased іn Erbil, the capital оf the Kurdistan Region, оn Sunday.

Our correspondent reported that gold prices іn the wholesale markets оn Baghdad’s Al-Nahr Street recorded a selling price per mithqal (equals five grams) оf 21-carat gold from Gulf, Turkish, and European sources at 449,000 IQD, with a buying price оf 445,000 IQD.

Iraqi gold had the selling price per mithqal оf 21-carat recorded at 419,000 IQD, with a buying price оf 415,000 IQD.

As for gold prices at jewelry shops, the selling price per one gram оf 21-carat Gulf gold ranges between 450,000 and 460,000 IDQ, while the selling price per one gram оf Iraqi gold ranges between 420,000 and 430,000 IQD.

Regarding gold prices іn Erbil, the selling price per one gram оf 24-carat gold was 525,000 IQD, 21-carat gold was sold at 460,000 IQD, and 18-carat gold was sold at 395,000 IQD.

On Thursday, gold prices rose tо an all-time high after Fed policymakers indicated they still expected tо reduce them by three-quarters оf a percentage point by the end оf 2024 despite recent high inflation readings.

Fed Chair Jerome Powell said оn Wednesday that recent high inflation readings had not changed the overall story оf slowly easing U.S. price pressures.

Lower interest rates decrease the opportunity cost оf holding non-yielding bullion and weigh оn the dollar, making gold cheaper for investors holding other currencies.

first published: March 24, 2024, 09:15 IST

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Under-pressure Western Bulldogs welcome Gold Coast Suns to Ballarat for a Sunday afternoon match.

The Bulldogs were thrashed by Melbourne in their opening match, while the Suns are 2-0 to the start the season.

MORE: Follow the Coleman Medal race with daily updates | Every fixture and result for the 2024 AFL season | Every AFL team’s injury list and Supercoach implications

What time is the AFL today? Western Bulldogs vs. Gold Coast start time 

Sunday’s game between the Bulldogs and Suns is scheduled to start at 1:00 pm AEDT on Sunday, March 24.

The game will be played at Mars Stadium in Ballarat.

How to watch or live stream Western Bulldogs vs. Gold Coast

This match, and every match across the home-and-away season, will be available for live streaming and replay on Kayo Sports.

Western Bulldogs vs. Gold Coast betting odds 

Per bookmaker TAB, Western Bulldogs is the $1.67 favourite to win this match, while Gold Coast is the underdog at $2.20.

Western Bulldogs vs. Gold Coast Round 2 team lists

Western Bulldogs

IN: Oskar Baker, Sam Darcy, Taylor Duryea, Caleb Poulter

OUT: James Harmes (Suspension)

Gold Coast

IN: Jed Walter, Rory Atkins, Ben Long, Mac Andrew, Sam Clohesy

OUT: Malcolm Rosas (Suspension), Darcy Macpherson (Sub)

NEW: Sam Clohesy, Jed Walter

Shafaq News / On Saturday, gold prices decreased in Baghdad’s markets, while increasing in Erbil, the capital of the Kurdistan Region (KRI).

Our correspondent reported that gold prices in the wholesale markets on Baghdad’s Al-Nahr Street recorded a selling price per mithqal (equals five grams) for 21-carat gold from Gulf, Turkish, and European sources of 449,000 IQD, with a buying price of 445,000 IQD.

Both selling and buying prices per mithqal of 21-carat Iraqi gold reached 419,000 IQD.

Regarding gold prices at jewelry shops, the selling price per mithqal of 21-carat Gulf gold was 450,000 – 460,000 IQD, while one mithqal of Iraqi gold was sold at 420,000 – 430,000 IQD.

In Erbil, the selling price per mithqal of 24-carat gold was 535,000 IQD, 21-carat gold was sold for 470,000 IQD, and 18-carat gold was sold for 405,000 IQD.

CHENNAI: In Chennai, the price of 22-carat gold decreased by Rs 120 per sovereign and is sold at Rs 49,480 on Saturday.

Gold price in Tamil Nadu has been fluctuating for the past few days. Following this, the price has reduced from yesterday.

Accordingly, the fall in price per gram of gold is Rs 15, taking 1 gram of gold to be sold at Rs 6,185.

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The win marked the first World Cup victory by an American skeleton athlete in eight years. Ro won her first-ever World Cup race in a two-run time of 1 minute, 50.35 seconds.

Team USA’s Katie Uhlaender just missed the podium, placing fourth in 1:50.61. Sara Roderick was ninth in 1:51.24 while Michelle Toukan placed 26th.

Belgium’s Kim Meylemans finished in second place in 1:50.37 and the Netherlands’ Kimberley Bos was third in 1:50.55.

Bos secured the women’s skeleton World Cup overall title for the second time since 2022. The 2022 Olympic bronze medalist scored 1,570 points in the eight races of the season. Meylemans came second overall with 1,364 points. Italy’s Valentina Margaglio finished in third place overall with 1,270 points after a sixth place on Thursday.

Team USA’s Austin Florian competes in Thursday’s men’s skeleton event during the IBSF World Cup at Mount Van Hoevenberg in Lake Placid. He finished in 10th place but became the first Pan-American champion in IBSF history. The World Cup continues today with the two-woman and four-man bobsled events.(Enterprise photo — Parker O’Brien)

Ro was eighth overall in the standings with 1,175 points, Uhlaender finished 15th with 816 and Roderick placed 23rd with 534.

At the same time Thursday, Ro became the first athlete in IBSF history to secure the title of Pan-American Champion in women’s skeleton, as the season finale also counted as a continental championship for the athletes from North, Central and South America in a race-in-race classification. Pan-American silver was secured by Uhlaender, while bronze went to Roderick.

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Men’s skeleton

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This photo from Thursday’s men’s skeleton event during the IBSF World Cup at Mount Van Hoevenberg in Lake Placid shows, from left, Amedeo Bagnis, Italy, bronze; Zheng Yin, China, gold; and Marcus Wyatt, Great Britain, silver.
(Provided photo — IBSF)

On the men’s side, Austin Florian led U.S. sliders with a 10th-place finish in a two-run time of 1:48.32.

Florian, a Clarkson University graduate from Southington, Connecticut, got off to a rough start in his opening run, dropping him to 16th place, heading into the second run. However, he recorded the sixth-fastest second run to place 10th.

“It was snowing and it tends to make the ice a little sticky,” he said. “In the groove, I kind of got stood up and the sled kind of held me back and I got off balance. I just made one critical mistake down low and it cost me. The second run I fixed those. I had a pretty good run and I was happy with it.”

Team USA was rounded out by Daniel Barefoot in 16th place in 1:48.96 and Hunter Williams in 23rd at 1:49.57.

China’s Zheng Yin was first in 1:46.97, Great Britain’s Marcus Wyatt was second in 1:47.01 and Italy’s Amedeo Bagnis was third in 1:47.34.

China’s Zheng Yin competes in Thursday’s men’s skeleton World Cup event in Lake Placid.
(Enterprise photo — Parker O’Brien)

In the overall standings, Great Britain’s Matt Weston, who placed fourth on Thursday, overtook the previous leader, Germany’s Christopher Grotheer, to win the overall World Cup victory. Weston closed out the season with 1,523 points while Grotheer had 1,494. Yin placed third overall with 1,453 points.

Ukraine’s Vladyslav Heraskevych — who was a guest speaker at Tuesday’s memorial service in the Olympic Center for USA Luge Marketing Manager Dmitry Feld, who died Jan. 10 at age 68 — celebrated his best World Cup result in Lake Placid in fourth place — tied with Weston. The 25-year-old was just 0.20 seconds off a first ever World Cup podium finish for Ukraine in the sport of skeleton.

Florian was the top U.S. men’s slider, finishing the season in 15th place overall with 592 points. He capped off the season with three back-to-back top-10 finishes.

“It’s been a pretty good season,” Florian said. “I’ve had some top results on tracks that have historically been an issue for me. But I’m pushing some of the fastest in the world right now and driving some of the best I’ve ever had. I’m pretty happy with the season.”

Barefoot placed 21st overall with 499 points and Hunter Williams was 32nd with 150.

On Thursday, Florian became the first Pan-American champion in IBSF history. As with the European Championships, the final of the 2023/2024 BMW IBSF World Cup also counted as a continental championship for athletes from North, Central and South America in a race-in-race classification. Barefoot secured silver in the men’s skeleton ahead of Williams, who took the bronze.

The IBSF World Cup continued on Friday with the women’s monobob event and two-man bobsled. Today will be the two-woman and the four-man event, starting at 10 a.m.

(Editor/Publisher Andy Flynn contributed to this report.)

Gold remains a significant commodity in Nigeria, reflecting both the nation’s economic health and the global market’s fluctuations.

As of March 23rd, 2024, the gold prices per gram in Nigeria have been subject to various factors, including global demand, currency exchange rates, and local market conditions.

Below, we answer some frequently asked questions about today’s gold prices in Nigeria.

What is the price of gold per gram in Nigeria today?

As of March 23rd, 2024, the gold prices per gram in Nigeria are as follows:

• 24K Gold: ₦112,281.44
• 22K Gold: ₦102,849.80
• 21K Gold: ₦98,246.26
• 18K Gold: ₦84,211.08
• 14K Gold: ₦65,684.64
• 12K Gold: ₦56,140.72
• 10K Gold: ₦46,821.36
• 9K Gold: ₦42,105.54
• 8K Gold: ₦37,389.72

How are these prices determined?

The prices of gold per gram in Nigeria are influenced by the international gold market, the USD to NGN exchange rate, and local market dynamics. The rates are updated frequently to reflect the live spot gold price.

What could affect the future prices of gold in Nigeria?

Several factors could influence the future prices of gold in Nigeria, including:

• Global Economic Stability: Economic downturns or stability can significantly impact gold prices.
• Currency Fluctuations: Changes in the value of the Nigerian Naira against the US dollar can affect gold prices.
• Supply and Demand: The balance between gold production and consumer demand can cause price changes.
• Investor Behavior: Investor decisions based on market conditions can lead to price volatility.

Where can I buy gold in Nigeria?

Gold can be purchased from licensed jewelers, gold traders, and financial institutions offering precious metal investments. It’s crucial to ensure that you’re dealing with reputable sources to avoid counterfeit products.

Gold Price Table (Per Gram in NGN)

For the most accurate and up-to-date information, it’s recommended to check with local gold traders or stay tuned to Okay.ng.

I have focused on the coming secular shift in Gold and precious metals because it has massive implications over the coming years and into the 2030s.

However, I will discuss the cyclical potential of the current move in Gold today. With a strong close above $2100, Gold is in a new cyclical bull market.

The chart below notes the historical cyclical bull moves in Gold.

Other than the first cyclical bull (which did not begin in earnest until late 1971) and the most recent, every cyclical bull lasted roughly three years, give or take a few months. 

The cyclical bulls were far more powerful and volatile in the 1970s than in the 2000s.

Gold’s breakout from a super bullish cup and handle pattern, which we have written about since 2021, triggers a measured upside target of $3000/oz.

In researching historical and similar breakouts, we found that the market at hand moved from its measured upside target to its logarithmic target in six to 12 months. 

Gold’s logarithmic target is around $4000/oz. That equates to a 117% cyclical bull market from the October 2023 low or 146% from the October 2022 low.

However, a breakout from a 13-year pattern around all-time highs will likely produce a more explosive move to the upside.

I do not expect the move to be as big as those in the 1970s (464% and 718%), but I do expect it to surpass the moves in the 2000s. A 200% gain from the 2022 low takes Gold to nearly $5000, while a 200% gain from the 2023 low takes Gold to $5500. 

I am looking at the end of 2026 as a potential peak for the cyclical bull. That is four years from the 2022 low or three years from the 2023 low.

Gold fulfilling this potential requires a recession and downturn and strongly outperforming the conventional 60/40 portfolio. Gold has broken out against Bonds but has yet to against Stocks. 

At present, Gold is only days past, potentially its most significant breakout in 50 years. Should the breakout hold, we should expect gold stocks, especially junior gold stocks, to dramatically outperform Gold over the next year or two. 

To learn the stocks we own and intend to buy, with at least 5x upside potential in the new bull market, consider learning about our premium service.