Sprott initiated with a Buy at Canaccord

Canaccord initiated coverage of Sprott (SII) with a Buy rating and C$67 price target The firm says Sprott has “experienced a tremendous shift” over the past five years, evolving from an asset manager to a specialized, mining-focused firm, “offering a unique value proposition to its fund investors.” The firm expects management to continue to drive growth through both organic capital inflows and the broadening of its product suite. It believes Sprott has now become an “all weather” business, capable of thriving in a variety of macroeconomic scenarios.