Canaccord Genuity Group Has Lowered Expectations for Sprott (TSE:SII) Stock Price

Key Points

• Canaccord Genuity Group cut Sprott’s price target from C$230 to C$183 while maintaining a “buy” rating, implying 16.46% potential upside from the previous close.
• Other analysts also adjusted their targets, resulting in a consensus price target of C$187.40 and an overall “Moderate Buy” rating based on three Buy and two Hold recommendations.
• Sprott shares fell 3.0% to C$157.13 during Thursday trading. The company recently reported quarterly EPS of C$1.89 and revenue of C$113.98 million, with a 22.40% net margin.

Sprott (TSE:SII - Get Free Report) had its price target reduced by analysts at Canaccord Genuity Group from C$230.00 to C$183.00 in a note issued to investors on Thursday,BayStreet.CA reports. The brokerage presently has a "buy" rating on the stock. Canaccord Genuity Group's price objective points to a potential upside of 16.46% from the company's previous close.

Other research analysts have also recently issued reports about the stock. TD increased their price target on shares of Sprott from C$170.00 to C$175.00 and gave the stock a "hold" rating in a report on Thursday. BMO Capital Markets cut their target price on Sprott from C$210.00 to C$195.00 and set an "outperform" rating for the company in a research note on Wednesday, July 22nd. Finally, Royal Bank Of Canada dropped their price objective on Sprott from C$230.00 to C$204.00 and set an "outperform" rating on the stock in a report on Monday, July 13th. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of C$187.40.

Sprott Stock Down 3.0%

Shares of TSE SII traded down C$4.78 during mid-day trading on Thursday, hitting C$157.13. 36,251 shares of the company were exchanged, compared to its average volume of 86,661. The stock has a 50 day simple moving average of C$160.60 and a 200-day simple moving average of C$178.96. Sprott has a 1-year low of C$85.84 and a 1-year high of C$230.43. The firm has a market cap of C$4.05 billion, a price-to-earnings ratio of 47.91, a price-to-earnings-growth ratio of -3.34 and a beta of 1.57.

Sprott (TSE:SII - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported C$1.89 earnings per share (EPS) for the quarter. The company had revenue of C$113.98 million for the quarter. Sprott had a net margin of 22.40% and a return on equity of 23.54%. Analysts anticipate that Sprott will post 3.2178828 earnings per share for the current fiscal year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source