CIBC Downgrades Sprott Inc. (SII) to Sector Perform
Sprott Inc. (TSE:SII) was downgraded by stock analysts at CIBC from an “outperform” rating to a “sector perform” rating in a report issued on Tuesday. They currently have a C$2.75 price objective on the stock, down from their prior price objective of C$3.50. CIBC’s price target would indicate a potential upside of 22.22% from the company’s current price.
Several other brokerages have also recently commented on SII. Scotiabank set a C$2.50 target price on shares of Sprott and gave the stock a “sector perform” rating in a report on Monday. TD Securities reiterated a “hold” rating and issued a C$2.75 price target on shares of Sprott in a research note on Monday, August 15th. Five equities research analysts have rated the stock with a hold rating, Sprott currently has an average rating of “Hold” and a consensus price target of C$2.55.
Shares of Sprott (TSE:SII) opened at 2.25 on Tuesday. The firm has a 50 day moving average of $2.23 and a 200 day moving average of $2.44. Sprott has a 52 week low of $1.67 and a 52 week high of $2.79. The firm has a market cap of $563.89 million and a price-to-earnings ratio of 21.03.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 6th. Shareholders of record on Tuesday, December 6th will be paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 5.33%. The ex-dividend date of this dividend is Thursday, November 17th.
Sprott Inc is an alternative asset management company. The Company has five segments: Sprott Asset Management LP (SAM), Global Companies, Sprott Resource Lending Corp. (SRLC), Consulting, and Corporate & Other. The SAM segment offers discretionary portfolio management, as well as asset management services to its branded Funds and Managed Accounts.
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