In a new note to investors on October 30, an analyst has provided a rating update for the Financial sector company, Sprott Inc. (TSX: SII). TD Securities’ analyst Graham Ryding reiterates their Sell rating on the shares, with a C$2.50 price target.
According to TipRanks.com, Ryding is a 4-star analyst with an average return of 10.7% and a 72.3% success rate. Ryding covers the Financial sector, focusing on stocks such as Canaccord Genuity, IGM Financial, and Sprott Inc.
Currently, the analyst consensus on Sprott Inc. is a Moderate Sell with an average price target of C$2.67.
Based on Sprott Inc.’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of C$5.92 million. In comparison, last year the company had a net profit of C$29.8 million.
Sprott, Inc. is an alternative asset manager, which engages in precious metal and real asset investments. It operates through the following segments: Exchange Listed Products, Alternative Asset Management, Global, Lending, Consulting, Merchant Banking & Advisory Services, and Corporate.
The company’s shares closed on Wednesday at C$3.01.
