The Manufacturers Life Insurance Company Boosts Stock Holdings in Sprott Inc. $SII

The Manufacturers Life Insurance Company grew its holdings in Sprott Inc. (NYSE:SII) by 13.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 71,499 shares of the company’s stock after purchasing an additional 8,285 shares during the period. The Manufacturers Life Insurance Company’s holdings in Sprott were worth $10,194,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Flagship Harbor Advisors LLC bought a new position in Sprott in the 4th quarter worth approximately $34,000. Caitong International Asset Management Co. Ltd grew its stake in Sprott by 63.8% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 385 shares of the company’s stock valued at $38,000 after buying an additional 150 shares in the last quarter. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Sprott during the fourth quarter worth $59,000. Advisory Services Network LLC purchased a new stake in shares of Sprott during the third quarter worth $74,000. Finally, CENTRAL TRUST Co bought a new position in shares of Sprott in the first quarter worth $184,000. 28.30% of the stock is currently owned by hedge funds and other institutional investors.

Sprott Stock Performance

Shares of SII stock opened at $103.77 on Tuesday. The company has a market capitalization of $2.67 billion, a PE ratio of 31.73 and a beta of 0.83. Sprott Inc. has a 52-week low of $61.94 and a 52-week high of $169.63. The business’s fifty day moving average is $115.03 and its 200 day moving average is $129.49.

Sprott (NYSE:SII) last posted its earnings results on Wednesday, May 6th. The company reported $1.13 EPS for the quarter, topping the consensus estimate of $0.93 by $0.20. The business had revenue of $80.75 million during the quarter, compared to analysts’ expectations of $78.06 million. Sprott had a return on equity of 23.54% and a net margin of 21.99%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on SII shares. Wall Street Zen upgraded Sprott from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. TD Securities restated a “hold” rating on shares of Sprott in a research note on Thursday, May 7th. Weiss Ratings lowered Sprott from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday. Finally, Royal Bank Of Canada upped their price target on Sprott from $218.00 to $230.00 and gave the company an “outperform” rating in a research report on Thursday, May 7th. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, Sprott has an average rating of “Moderate Buy” and a consensus target price of $230.00.

Sprott Profile

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.