Sprott(SII) Shares Soar 2.39% on TD Securities Upgrade, Uranium Trust Financing

SPROTT(SII) shares surged to a record high today, with an intraday gain of 2.39%.

The strategy of buying SII shares after they reached a recent high and holding for 1 week showed poor performance over the past 5 years. The annualized return was -4.61%, significantly underperforming the market. This indicates that relying on recent highs as a buying trigger and holding for a short duration is not a profitable strategy for SII.

TD Securities recently raised their price target for Sprott from C$79.00 to C$84.00 and issued a "buy" rating. This move is likely to positively influence investor perception and potentially drive the stock price higher.

Additionally, Sprott Physical Uranium Trust announced an upsized US$200 million bought deal financing. The Trust plans to use these funds to acquire physical uranium, indicating strategic growth and potential value increase for shareholders. This acquisition is a significant step in the company's expansion strategy, which could further boost investor confidence and contribute to the stock's upward trajectory.