Sprott (TSE:SII) Stock Crosses Below 200-Day Moving Average - Here's Why

Key Points

• Sprott shares fell below their 200-day moving average, trading as low as C$162.31 before closing at C$165.40, compared with the 200-day average of C$174.56.
• Analysts maintain a cautiously positive outlook: three rate Sprott a Buy and two a Hold, producing a “Moderate Buy” consensus and an average price target of C$187.40.
• Sprott reported quarterly revenue of C$113.98 million and earnings of C$1.89 per share, while declaring a quarterly dividend of $0.40 per share, equivalent to a 1.0% annualized yield.

Sprott Inc. (TSE:SII - Get Free Report) shares passed below its 200-day moving average during trading on Monday. The stock has a 200-day moving average of C$174.56 and traded as low as C$162.31. Sprott shares last traded at C$165.40, with a volume of 37,138 shares trading hands.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on SII shares. Royal Bank Of Canada reduced their price objective on Sprott from C$230.00 to C$204.00 and set an "outperform" rating for the company in a research report on Monday, July 13th. TD lifted their price objective on shares of Sprott from C$170.00 to C$175.00 and gave the company a "hold" rating in a report on Thursday, August 6th. Canaccord Genuity Group cut their price objective on shares of Sprott from C$230.00 to C$183.00 and set a "buy" rating on the stock in a research report on Thursday, August 6th. Finally, BMO Capital Markets reduced 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 report on Wednesday, July 22nd. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of C$187.40.

Sprott Trading Up 0.1%

The company has a market cap of C$4.26 billion, a P/E ratio of 40.54, a PEG ratio of -3.34 and a beta of 1.76. The business has a 50 day moving average price of C$171.14 and a 200-day moving average price of C$174.56.

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

Sprott Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Tuesday, September 1st were paid a dividend of $0.40 per share. The ex-dividend date was Monday, August 17th. This represents a $1.60 annualized dividend and a dividend yield of 1.0%. Sprott's payout ratio is currently 36.76%.

Sprott Company Profile

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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