Sprott (NYSE:SII) Trading 12.7% Higher After Better-Than-Expected Earnings

Sprott Inc. (NYSE:SII)’s share price traded up 12.7% during mid-day trading on Wednesday following a better than expected earnings announcement. The stock traded as high as $145.27 and last traded at $142.8430. 46,183 shares traded hands during mid-day trading, a decline of 81% from the average session volume of 239,541 shares. The stock had previously closed at $126.77.

The company reported $999.00 earnings per share for the quarter, beating the consensus estimate of $0.93 by $998.07. Sprott had a return on equity of 19.47% and a net margin of 23.62%.

Sprott Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 3rd. Stockholders of record on Tuesday, May 19th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Tuesday, May 19th. Sprott’s dividend payout ratio (DPR) is presently 61.54%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. TD Securities reiterated a “hold” rating on shares of Sprott in a research note on Friday, February 20th. Royal Bank Of Canada upgraded Sprott from a “sector perform” rating to an “outperform” rating in a research note on Friday, February 20th. Finally, Wall Street Zen cut Sprott from a “buy” rating to a “hold” rating in a research note on Saturday, April 25th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, Sprott has an average rating of “Moderate Buy” and a consensus price target of $132.00.

Institutional Investors Weigh In On Sprott

Institutional investors have recently added to or reduced their stakes in the business. Flagship Harbor Advisors LLC purchased a new stake in Sprott during the fourth quarter worth approximately $34,000. Caitong International Asset Management Co. Ltd lifted its stake in Sprott by 63.8% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 385 shares of the company’s stock worth $38,000 after purchasing an additional 150 shares during the last quarter. Kohmann Bosshard Financial Services LLC purchased a new stake in Sprott during the fourth quarter worth approximately $59,000. Advisory Services Network LLC purchased a new stake in Sprott during the third quarter worth approximately $74,000. Finally, Rialto Wealth Management LLC lifted its stake in Sprott by 26.0% during the fourth quarter. Rialto Wealth Management LLC now owns 800 shares of the company’s stock worth $78,000 after purchasing an additional 165 shares during the last quarter. Hedge funds and other institutional investors own 28.30% of the company’s stock.

Sprott Price Performance

The firm has a 50 day moving average of $145.32 and a two-hundred day moving average of $117.04. The stock has a market cap of $3.76 billion, a PE ratio of 56.45 and a beta of 0.78.

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.