Sprott (TSE:SII) Hits New 1-Year High After Dividend Announcement

Sprott Inc. (TSE:SII)’s stock price hit a new 52-week high during mid-day trading on Wednesday after the company announced a dividend. The stock traded as high as C$80.04 and last traded at C$79.44, with a volume of 23991 shares trading hands. The stock had previously closed at C$78.82.

The newly announced dividend which will be paid on Wednesday, June 4th. Investors of record on Wednesday, June 4th will be issued a dividend of $0.30 per share. The ex-dividend date is Tuesday, May 20th. This represents a $1.20 dividend on an annualized basis and a yield of 1.52%. Sprott’s dividend payout ratio (DPR) is presently 52.61%.

Analyst Ratings Changes

Several research firms have recently weighed in on SII. BMO Capital Markets lifted their target price on shares of Sprott from C$75.00 to C$76.00 in a research note on Friday, April 4th. TD Securities boosted their price objective on shares of Sprott from C$79.00 to C$84.00 and gave the company a “buy” rating in a research note on Thursday, May 8th. Finally, Canaccord Genuity Group boosted their price objective on shares of Sprott from C$67.00 to C$71.00 and gave the company a “buy” rating in a research note on Thursday, February 27th.

Sprott Trading Up 0.1%

The stock has a market capitalization of C$1.41 billion, a P/E ratio of 30.74, a price-to-earnings-growth ratio of -3.34 and a beta of 1.45. The company has a current ratio of 3.30, a quick ratio of 2.89 and a debt-to-equity ratio of 5.65. The stock’s fifty day moving average price is C$68.73 and its two-hundred day moving average price is C$63.84.

Sprott (TSE:SII) last announced its quarterly earnings data on Wednesday, February 26th. The company reported C$0.46 earnings per share for the quarter. Sprott had a net margin of 28.20% and a return on equity of 15.02%. Equities research analysts forecast that Sprott Inc. will post 3.2178828 EPS for the current year.

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.