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National Bank Financial Initiates Coverage on Sprott Resource Corporation with an Outperform Rating - Video Research Alert on InvestmentPitch.com
August 27, 2014 10:08 AM EDT | Source: InvestmentPitch Media
Vancouver, British Columbia--(Newsfile Corp. - August 27, 2014) - National Bank Financial has initiated coverage on Sprott Resource Corporation (TSX: SCP). Analyst Don DeMarco gives the company an outperform rating and a 12-month price target of $3.80, a premium of 17% to the $3.25 price on August 20th, the day the report was issued.
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Sprott Resource is an independent private equity firm focused on natural resources with approximately $385 million in assets under management. Approximately 59% of the portfolio is invested in public companies, with the balance of 41% in private companies, giving investors access to investments not usually available to them. By sector, the company has 71% invested in energy, 14% in metals and mining, and the balance of 15% in agriculture. Geographically, approximately 63% of the portfolio is invested in Canada, 29% in the United States and 9% in Uruguay.
The company takes an active involvement in the companies in which it invests, and over the last 7 years, has a compound annual growth rate of 26% coming from 64 transactions. It has been the big winners that have been driving these returns, including PBS Coals which has returned a compound annual growth rate of 653%.
The company is well positioned to draw upon the considerable experience and expertise of both its Board of Directors and Sprott Consulting Limited Partnership, of which Sprott Inc. is the sole limited partner, and has a proven track record of partnering with experienced management teams, committed to the successful growth of the companies in which they invest.
Analyst Don DeMarco stated: "SRC has teamed up with Quintana Capital, Lundin Group and JOG Capital in recent investments. Through teaming, its deal-size wheelhouse has increased providing more scope while mitigating risk."
The company currently trades at $3.31, below the $3.80 target price, and with 98.1 million shares outstanding, the company is capitalized at $324.7 million.
For more information, please visit the company's website www.sprottresource.com or contact Glen Williams, Director of Communications, at 416-943-4394 or email gwilliams@sprott.com.
For more information about National Bank Financial or to obtain a copy of their research report, contact your nearest National Bank Financial office. Their branches are listed on their website at www.nbf.ca.
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