StoneX Group (SNEX, Financial) has secured authorization from CME Group for its New York-based vault, which is now approved to store and deliver precious metals such as gold, silver, platinum, and palladium. These transactions will be underpinned by COMEX and NYMEX contracts. This development allows StoneX clients to handle CME-eligible metals directly, enhancing the company's comprehensive offerings in the precious metals sector.
With this approval, StoneX clients gain streamlined access to the COMEX and NYMEX delivery networks through the firm's New York vault. This advancement simplifies the delivery process for institutional traders, banks, refiners, and bullion dealers, offering secure and regulated storage along with direct exchange access.
As COMEX inventories in New York reach new highs, surpassing 43 million ounces of gold in the first quarter of 2025, this move by StoneX aligns with rising global demand for storage solutions based in the U.S. The new depository not only enhances market infrastructure but also broadens delivery options for clients and strengthens StoneX's global capabilities in physical metals logistics.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 1 analysts, the average target price for StoneX Group Inc (SNEX, Financial) is $83.00 with a high estimate of $83.00 and a low estimate of $83.00. The average target implies an upside of 5.95% from the current price of $78.34. More detailed estimate data can be found on the StoneX Group Inc (SNEX) Forecast page.
Based on the consensus recommendation from 2 brokerage firms, StoneX Group Inc's (SNEX, Financial) average brokerage recommendation is currently 1.0, indicating "Buy" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for StoneX Group Inc (SNEX, Financial) in one year is $88.98, suggesting a upside of 13.58% from the current price of $78.34. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the StoneX Group Inc (SNEX) Summary page.
