Sprott (TSE:SII) Posts Quarterly Earnings Results

Sprott (TSE:SII) posted its earnings results on Wednesday. The company reported C$1.89 earnings per share for the quarter, FiscalAI reports. Sprott had a net margin of 22.40% and a return on equity of 23.54%. The firm had revenue of C$113.98 million during the quarter.

Sprott Stock Performance

Shares of SII traded up C$9.93 during mid-day trading on Wednesday, hitting C$157.26. 58,097 shares of the company were exchanged, compared to its average volume of 86,501. Sprott has a 1-year low of C$85.84 and a 1-year high of C$230.43. The company has a 50 day moving average of C$160.89 and a 200-day moving average of C$178.95. The stock has a market cap of C$4.05 billion, a price-to-earnings ratio of 47.95, a price-to-earnings-growth ratio of -3.34 and a beta of 1.58.

Sprott Dividend Announcement

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

Wall Street Analysts Forecast Growth

SII has been the topic of several analyst reports. Canaccord Genuity Group raised their price target on shares of Sprott from C$200.00 to C$230.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. BMO Capital Markets decreased their price objective on shares of Sprott from C$210.00 to C$195.00 and set an “outperform” rating for the company in a research report on Wednesday, July 22nd. TD increased their target price on shares of Sprott from C$190.00 to C$205.00 and gave the stock a “hold” rating in a research note on Thursday, May 7th. Finally, Royal Bank Of Canada cut their price target on Sprott from C$230.00 to C$204.00 and set an “outperform” rating for the company in a research note on Monday, July 13th. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, Sprott has an average rating of “Moderate Buy” and an average price target of C$202.80.

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.