Sprott (TSE:SII) Reaches New 52-Week High Following Analyst Upgrade

Sprott Inc. (TSE:SII) shares hit a new 52-week high on Friday after BMO Capital Markets raised their price target on the stock from C$109.00 to C$123.00. The company traded as high as C$126.73 and last traded at C$125.85, with a volume of 101278 shares. The stock had previously closed at C$118.88.

Separately, TD Securities lifted their target price on shares of Sprott from C$100.00 to C$125.00 and gave the stock a “hold” rating in a research report on Tuesday. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$106.33.

Sprott Stock Up 6.5%

The firm has a market cap of C$3.27 billion, a P/E ratio of 65.28, a P/E/G ratio of -3.34 and a beta of 1.22. The business’s fifty day moving average price is C$109.18 and its two-hundred day moving average price is C$94.52. 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 Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 2nd. Investors of record on Tuesday, December 2nd will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, November 17th. This represents a $1.60 annualized dividend and a dividend yield of 1.3%. This is a boost from Sprott’s previous quarterly dividend of $0.30. Sprott’s payout ratio is presently 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.