Sprott (TSE:SII) Stock Passes Below 200-Day Moving Average - Time to Sell?

Key Points

• Sprott shares fell below their 200-day moving average, trading as low as C$176.09 versus the C$179.37 average, before closing at C$176.64.
• Analysts remain broadly positive, with a consensus rating of “Moderate Buy” and an average price target of C$187.40, despite several firms recently lowering their targets.
• Sprott reported C$1.89 in quarterly EPS on C$113.98 million in revenue and pays a quarterly dividend of C$0.40 per share, equal to a 0.9% yield.

Sprott Inc. (TSE:SII - Get Free Report)'s share price passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$179.37 and traded as low as C$176.09. Sprott shares last traded at C$176.64, with a volume of 32,969 shares traded.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on SII. Royal Bank Of Canada cut their price objective on shares of 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. BMO Capital Markets lowered their target price on shares of Sprott from C$210.00 to C$195.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 22nd. Canaccord Genuity Group cut 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 report on Thursday, August 6th. Finally, TD boosted their target price on Sprott from C$170.00 to C$175.00 and gave the stock a "hold" rating in a research report on Thursday, August 6th. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of C$187.40.

Sprott Price Performance

The stock has a market cap of C$4.55 billion, a PE ratio of 43.29, a price-to-earnings-growth ratio of -3.34 and a beta of 1.57. The business has a 50 day moving average price of C$160.82 and a two-hundred day moving average price of C$179.37.

Sprott (TSE:SII - Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported C$1.89 EPS for the quarter. Sprott had a net margin of 26.68% and a return on equity of 28.39%. The company had revenue of C$113.98 million for the quarter. On average, sell-side analysts forecast that Sprott Inc. will post 3.2178828 earnings per share for the current fiscal 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. This represents a $1.60 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Monday, August 17th. Sprott's dividend payout ratio is 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).

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.

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