Sprott (TSE:SII) Hits New 1-Year High - Time to Buy?

Key Points

• Sprott Inc. (TSE:SII) reached a new 52-week high of C$108.94, closing at C$107.67 with a trading volume of 56,185 shares.
• TD Securities downgraded Sprott's stock from a "buy" to a "hold" rating, while BMO Capital Markets increased their target price to C$109.00 with an "outperform" rating.
• The company announced a quarterly dividend of $0.30, providing an annualized dividend yield of 1.1% with a payout ratio of 59.28%.

Sprott Inc. (TSE:SII - Get Free Report)'s share price hit a new 52-week high on Wednesday . The company traded as high as C$108.94 and last traded at C$107.67, with a volume of 56185 shares trading hands. The stock had previously closed at C$107.41.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. TD Securities lowered shares of Sprott from a "buy" rating to a "hold" rating and raised their target price for the company from C$84.00 to C$100.00 in a research report on Tuesday, July 22nd. BMO Capital Markets boosted their target price on shares of Sprott from C$98.00 to C$109.00 and gave the company an "outperform" rating in a report on Thursday, September 18th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of C$93.33.

Sprott Stock Up 0.0%

The stock's fifty day moving average price is C$94.37 and its 200 day moving average price is C$82.69. The stock has a market cap of C$2.77 billion, a P/E ratio of 55.39, a price-to-earnings-growth ratio of -3.34 and a beta of 1.06. The company has a current ratio of 3.30, a quick ratio of 2.89 and a debt-to-equity ratio of 5.65.

Sprott Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, September 2nd were given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Monday, August 18th. Sprott's dividend payout ratio (DPR) is currently 59.28%.

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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