Sprott (TSE:SII) Share Price Crosses Below 200-Day Moving Average - Time to Sell?

Key Points

• Sprott shares fell below their 200-day moving average, trading as low as C$177.13 versus the C$179.79 average, signaling potential technical weakness.
• Analysts have lowered their price targets, but sentiment remains positive overall: Sprott has a “Moderate Buy” consensus rating and an average target of C$187.40.
• Sprott reported C$1.89 in quarterly EPS on C$113.98 million in revenue and maintains a quarterly dividend of C$0.40 per share, equal to a 0.9% yield.

Shares of Sprott Inc. (TSE:SII - Get Free Report) passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$179.79 and traded as low as C$177.13. Sprott shares last traded at C$179.52, with a volume of 70,796 shares trading hands.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. BMO Capital Markets decreased their target price on shares of 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. Royal Bank Of Canada reduced their target price on shares of Sprott from C$230.00 to C$204.00 and set an "outperform" rating for the company in a report on Monday, July 13th. Canaccord Genuity Group dropped their price target on shares of Sprott from C$230.00 to C$183.00 and set a "buy" rating for the company in a research report on Thursday, August 6th. Finally, TD increased their price objective on shares of Sprott from C$170.00 to C$175.00 and gave the stock a "hold" rating in a research note on Thursday, August 6th. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of C$187.40.

Sprott Stock Up 1.5%

The stock's 50 day moving average is C$163.48 and its 200-day moving average is C$179.79. The company has a market cap of C$4.62 billion, a PE ratio of 44.00, a P/E/G ratio of -3.34 and a beta of 1.76.

Sprott (TSE:SII - Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported C$1.89 earnings per share (EPS) for the quarter. Sprott had a net margin of 26.68% and a return on equity of 28.39%. The firm had revenue of C$113.98 million for the quarter. On average, analysts anticipate that Sprott Inc. will post 3.2178828 EPS for the current fiscal year.

Sprott Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Tuesday, September 1st were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, August 17th. This represents a $1.60 annualized dividend and a dividend yield of 0.9%. Sprott's payout ratio is currently 36.76%.

About Sprott

Sprott is a global asset manager focused on precious metals and critical materials investments. We are specialists. We believe our in-depth knowledge, experience and relationships separate us from the generalists. Our investment strategies include Exchange Listed Products, Managed Equities and Private Strategies. Sprott has offices in Toronto, New York, Connecticut and California and the Company's common shares are listed on the New York Stock Exchange and the Toronto Stock Exchange under the symbol (SII).

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