Sprott (TSE:SII) Stock Price Expected to Rise, BMO Capital Markets Analyst Says

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 raised by BMO Capital Markets from C$98.00 to C$109.00 in a research note issued to investors on Thursday morning,BayStreet.CA reports. They currently have an outperform rating on the stock.

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

Sprott Trading Up 3.0%

SII traded up C$3.00 during trading hours on Thursday, reaching C$103.57. The company's stock had a trading volume of 84,908 shares, compared to its average volume of 57,904. Sprott has a fifty-two week low of C$56.05 and a fifty-two week high of C$105.59. The stock has a market cap of C$2.67 billion, a PE ratio of 53.39, a P/E/G ratio of -3.34 and a beta of 1.06. The business's 50-day moving average is C$94.21 and its 200-day moving average is C$82.52. The company has a debt-to-equity ratio of 5.65, a current ratio of 3.30 and a quick ratio of 2.89.

Sprott Announces Dividend

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