Sprott (NYSE:SII) Stock Price Up 7.5% – Here’s What Happened

Sprott Inc. (NYSE:SII) shot up 7.5% during mid-day trading on Tuesday . The company traded as high as $123.24 and last traded at $124.1180. Approximately 191,337 shares traded hands during trading, a decline of 12% from the average daily volume of 218,651 shares. The stock had previously closed at $115.49.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. TD Securities reaffirmed a “hold” rating on shares of Sprott in a research note on Thursday. Wall Street Zen downgraded Sprott from a “buy” rating to a “hold” rating in a report on Saturday. Weiss Ratings cut Sprott from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, July 30th. Finally, Royal Bank Of Canada boosted their price objective on Sprott from $218.00 to $230.00 and gave the company an “outperform” rating in a research report on Thursday, May 7th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $230.00.

Sprott Price Performance

The stock has a 50-day moving average price of $113.38 and a 200-day moving average price of $129.36. The company has a market capitalization of $3.19 billion, a price-to-earnings ratio of 30.40 and a beta of 0.83.

Sprott (NYSE:SII) last announced its earnings results on Wednesday, August 5th. The company reported $1.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.01). The business had revenue of $71.78 million for the quarter, compared to analyst estimates of $82.45 million. Sprott had a return on equity of 28.40% and a net margin of 26.36%.During the same quarter in the previous year, the company earned $0.52 EPS.

Sprott Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Monday, August 17th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Monday, August 17th. Sprott’s dividend payout ratio (DPR) is 39.22%.

Institutional Trading of Sprott

A number of institutional investors have recently bought and sold shares of SII. Sprott Inc. increased its stake in Sprott by 0.9% in the fourth quarter. Sprott Inc. now owns 1,661,137 shares of the company’s stock valued at $162,659,000 after purchasing an additional 15,555 shares in the last quarter. Mawer Investment Management Ltd. boosted its holdings in Sprott by 19.3% in the fourth quarter. Mawer Investment Management Ltd. now owns 1,515,002 shares of the company’s stock worth $148,349,000 after acquiring an additional 245,173 shares in the last quarter. Capital Research Global Investors boosted its holdings in Sprott by 88.1% in the fourth quarter. Capital Research Global Investors now owns 991,339 shares of the company’s stock worth $97,101,000 after acquiring an additional 464,177 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in Sprott by 45.9% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 713,468 shares of the company’s stock valued at $69,872,000 after acquiring an additional 224,490 shares during the period. Finally, Vanguard Group Inc. increased its holdings in shares of Sprott by 82.3% during the fourth quarter. Vanguard Group Inc. now owns 573,923 shares of the company’s stock valued at $56,215,000 after acquiring an additional 259,112 shares in the last quarter. Institutional investors own 28.30% of the company’s stock.

About Sprott

Sprott Inc is a Toronto‐based alternative asset manager specializing in precious metals, real assets and related investment vehicles. Founded in 1981 by Eric Sprott, the firm has built a reputation for offering physically backed bullion trusts, exchange‐traded funds (ETFs), mutual funds and private managed accounts that provide exposure to gold, silver, platinum and other hard assets. Sprott’s product lineup also includes royalty and streaming strategies, which grant investors long‐term participation in mining project cash flows without direct operational risk.

In addition to its flagship physical bullion trusts, Sprott offers actively managed equity portfolios that focus on companies engaged in the exploration, development and production of precious metals.