Canaccord Genuity Group Cuts Sprott (TSE:SII) Price Target to C$183.00

Sprott (TSE:SII) had its price objective lowered by Canaccord Genuity Group from C$230.00 to C$183.00 in a research report report published on Thursday,BayStreet.CA reports. The brokerage currently has a buy rating on the stock.

A number of other research analysts have also recently issued reports on the company. BMO Capital Markets cut their price objective on Sprott from C$210.00 to C$195.00 and set an “outperform” rating for the company in a report on Wednesday, July 22nd. TD upped their target price on shares of Sprott from C$170.00 to C$175.00 and gave the stock a “hold” rating in a report on Thursday. Finally, Royal Bank Of Canada dropped their target price on shares of Sprott from C$230.00 to C$204.00 and set an “outperform” rating for the company in a research report on Monday, July 13th. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Sprott currently has an average rating of “Moderate Buy” and a consensus target price of C$187.40.

Sprott Price Performance

Sprott stock opened at C$164.20 on Thursday. The company has a market capitalization of C$4.23 billion, a PE ratio of 50.06, a price-to-earnings-growth ratio of -3.34 and a beta of 1.57. Sprott has a one year low of C$85.84 and a one year high of C$230.43. The business has a 50 day simple moving average of C$159.87 and a 200 day simple moving average of C$178.83.

Sprott (TSE:SII) last announced its quarterly earnings results on Wednesday, August 5th. The company reported C$1.89 earnings per share for the quarter. Sprott had a return on equity of 23.54% and a net margin of 22.40%.The firm had revenue of C$113.98 million for the quarter. Equities analysts anticipate that Sprott will post 3.2178828 earnings per share for the current fiscal year.

Sprott Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Tuesday, September 1st will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Monday, August 17th. Sprott’s dividend payout ratio (DPR) is currently 42.68%.

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.