BMO Capital Markets Forecasts Strong Price Appreciation for Sprott (TSE:SII) Stock

Key Points

• BMO Capital Markets raised the price target for Sprott Inc (TSE:SII) from C$98.00 to C$109.00, indicating a potential upside of 9.54% based on the stock's previous close.
• TD Securities downgraded Sprott from a "buy" to a "hold" rating, while increasing their price target from C$84.00 to C$100.00.
• Sprott's stock price increased by 1.3% during trading, reaching C$99.51, with the company having a market cap of C$2.57 billion.

Sprott (TSE:SII - Free Report) had its price objective upped by BMO Capital Markets from C$98.00 to C$109.00 in a research report report published on Thursday,BayStreet.CA reports. They currently have an outperform rating on the stock.

Separately, TD Securities cut shares of Sprott from a "buy" rating to a "hold" rating and upped their target price for the company from C$84.00 to C$100.00 in a research note on Tuesday, July 22nd. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, Sprott currently has an average rating of "Moderate Buy" and a consensus price target of C$93.33.

Sprott Price Performance

TSE SII traded up C$1.29 on Thursday, reaching C$100.57. The company's stock had a trading volume of 379,280 shares, compared to its average volume of 57,754. The firm has a market cap of C$2.59 billion, a PE ratio of 51.84, a price-to-earnings-growth ratio of -3.34 and a beta of 1.06. The business has a 50-day moving average price of C$94.12 and a 200 day moving average price of C$81.95. Sprott has a 52 week low of C$56.05 and a 52 week high of C$105.59. The company has a current ratio of 3.30, a quick ratio of 2.89 and a debt-to-equity ratio of 5.65.

Sprott Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, September 2nd were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Monday, August 18th. Sprott's dividend payout ratio is currently 59.28%.

About Sprott

Sprott Inc is an alternative asset manager operating in Canada. The company has six reportable segments: Exchange Listed Products, which includes management services to the company's closed-end physical trusts and exchange-traded funds, both of which are actively traded on public securities exchanges; Managed equities segment provides asset management and sub-advisory services to the Company's branded funds, fixed-term LPs and managed accounts; Lending segment provides lending and streaming activities through limited partnership vehicles; Brokerage segment includes activities of Canadian and U.S.