Sprott (TSE:SII) Share Price Breaks Below 200 Day Moving Average – Here’s What Happened

Shares of Sprott Inc. (TSE:SII) passed below its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of C$176.74 and traded as low as C$174.72. Sprott shares last traded at C$175.45, with a volume of 23,167 shares changing hands.

Wall Street Analysts Forecast Growth

SII has been the subject of a number of recent analyst reports. Canaccord Genuity Group decreased their price target on Sprott from C$230.00 to C$183.00 and set a “buy” rating for the company in a report on Thursday, August 6th. Royal Bank Of Canada dropped their price objective on Sprott from C$230.00 to C$204.00 and set an “outperform” rating on the stock in a research note on Monday, July 13th. TD upped their target price on Sprott from C$170.00 to C$175.00 and gave the company a “hold” rating in a research report on Thursday, August 6th. Finally, BMO Capital Markets cut their target price on Sprott from C$210.00 to C$195.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 22nd. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of C$187.40.

Sprott Trading Down 0.3%

The stock’s 50-day moving average is C$168.95 and its 200-day moving average is C$176.74. The company has a market cap of C$4.51 billion, a price-to-earnings ratio of 43.00, a P/E/G ratio of -3.34 and a beta of 1.76.

Sprott (TSE:SII) last issued its earnings results on Wednesday, August 5th. The company reported C$1.89 earnings per share (EPS) for the quarter. Sprott had a net margin of 26.68% and a return on equity of 28.39%. The business had revenue of C$113.98 million for the quarter. As a group, analysts predict that Sprott Inc. will post 3.2178828 EPS for the current year.

Sprott Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Tuesday, September 1st were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend was Monday, August 17th. Sprott’s dividend payout ratio is 36.76%.

Sprott Company Profile

Sprott is a global asset manager focused on precious metals and critical materials investments. We are specialists. We believe our in-depth knowledge, experience and relationships separate us from the generalists. Our investment strategies include Exchange Listed Products, Managed Equities and Private Strategies. Sprott has offices in Toronto, New York, Connecticut and California and the Company’s common shares are listed on the New York Stock Exchange and the Toronto Stock Exchange under the symbol (SII).