Sprott (TSE:SII) Sets New 12-Month High on Analyst Upgrade

Sprott Inc. (TSE:SII) reached a new 52-week high during trading 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 trading hands. The stock had previously closed at C$118.88.

Separately, TD Securities boosted their price objective on shares of Sprott from C$100.00 to C$125.00 and gave the company 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’s stock. Based on data from MarketBeat, Sprott presently has an average rating of “Moderate Buy” and an average target price of C$106.33.

Sprott Trading Up 6.5%

The business has a 50 day moving average price of C$109.18 and a 200-day moving average price of C$94.52. The firm has a market cap of C$3.27 billion, a price-to-earnings ratio of 65.28, a price-to-earnings-growth ratio of -3.34 and a beta of 1.22. The company has a quick ratio of 2.89, a current ratio of 3.30 and a debt-to-equity ratio of 5.65.

Sprott Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 2nd. Shareholders of record on Tuesday, December 2nd will be issued a $0.40 dividend. This is an increase from Sprott’s previous quarterly dividend of $0.30. This represents a $1.60 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Monday, November 17th. Sprott’s dividend payout ratio is 59.28%.

About Sprott

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.