Sprott Inc. (NYSE:SII) Plans Dividend Increase – $0.50 Per Share

Sprott Inc. (NYSE:SII) declared a quarterly dividend on Tuesday, November 3rd. Stockholders of record on Monday, November 16th will be paid a dividend of $0.50 per share on Tuesday, December 1st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Monday, November 16th. This is a 25.0% increase from Sprott’s previous quarterly dividend of $0.40.

Sprott has increased its dividend payment by an average of 0.1% per year over the last three years and has increased its dividend annually for the last 1 consecutive years. Sprott has a payout ratio of 67.8% indicating that its dividend is sufficiently covered by earnings.

Sprott Trading Up 3.1%

Shares of SII opened at $105.44 on Wednesday. Sprott has a 12 month low of $78.79 and a 12 month high of $169.63. The stock has a fifty day moving average price of $119.58 and a 200-day moving average price of $126.54. The firm has a market cap of $2.71 billion, a PE ratio of 25.84 and a beta of 0.96.

Sprott (NYSE:SII) last posted its quarterly earnings data on Wednesday, November 4th. The company reported $0.86 earnings per share for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.17). Sprott had a return on equity of 28.40% and a net margin of 26.36%.

Analysts Set New Price Targets

Several brokerages have weighed in on SII. TD Securities reissued a “hold” rating on shares of Sprott in a report on Thursday, August 6th. Wall Street Zen downgraded shares of Sprott from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Finally, Weiss Ratings raised shares of Sprott from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $230.00.

Sprott Company Profile

Sprott Inc is an alternative asset manager focused on precious metals and other real assets. The company provides investment solutions designed to give investors exposure to gold, silver, uranium, energy transition materials, and natural resources.

Its offerings include exchange-traded funds, closed-end funds, physical bullion trusts, managed accounts, and private-market strategies. Sprott’s products may invest directly in physical commodities, resource companies, or assets connected to the natural resources and real asset sectors.

Founded in 1981, Sprott serves institutional and individual investors across North America and international markets.