Royal Bank Of Canada Issues Pessimistic Forecast for Sprott (TSE:SII) Stock Price

Key Points

• Royal Bank of Canada cut its price target on Sprott from C$230 to C$204, while keeping an outperform rating. The new target still implies about 39.75% upside from the previous close.
• Other analysts have also been adjusting their views on Sprott: Canaccord Genuity and BMO raised targets, while TD lifted its target but kept a hold rating. Overall, the stock has a Moderate Buy consensus and an average target price of C$205.80.
• Sprott shares were down 4.5% to C$145.98 on Monday, with trading volume below average. The company recently reported quarterly EPS of C$1.57 on revenue of C$198.75 million.

Sprott (TSE:SII - Get Free Report) had its price objective dropped by Royal Bank Of Canada from C$230.00 to C$204.00 in a research report issued on Monday,BayStreet.CA reports. The firm currently has an "outperform" rating on the stock. Royal Bank Of Canada's price target indicates a potential upside of 39.75% from the company's previous close.

Several other brokerages have also recently issued reports on SII. Canaccord Genuity Group raised their target price on shares of Sprott from C$200.00 to C$230.00 and gave the stock a "buy" rating in a report on Thursday, May 7th. BMO Capital Markets lifted their price objective on Sprott from C$192.00 to C$210.00 in a research report on Monday, April 13th. Finally, TD increased their price target on Sprott from C$190.00 to C$205.00 and gave the stock a "hold" rating in a report on Thursday, May 7th. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of C$205.80.

Sprott Trading Down 4.5%

SII traded down C$6.86 during trading hours on Monday, hitting C$145.98. The company's stock had a trading volume of 37,781 shares, compared to its average volume of 89,353. The stock has a market cap of C$3.76 billion, a price-to-earnings ratio of 44.51, a P/E/G ratio of -3.34 and a beta of 1.58. The business's 50-day moving average price is C$173.14 and its 200-day moving average price is C$178.22. Sprott has a 12 month low of C$85.84 and a 12 month high of C$230.43.

Sprott (TSE:SII - Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The company reported C$1.57 earnings per share (EPS) for the quarter. The company had revenue of C$198.75 million during the quarter. Sprott had a return on equity of 23.54% and a net margin of 22.40%. On average, analysts forecast that Sprott will post 3.2178828 earnings per share for the current year.

Sprott Company Profile

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.

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