Sprott (NYSE:SII) Issues Earnings Results

Sprott (NYSE:SII) issued its quarterly earnings results on Wednesday. The company reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.06, Zacks reports. Sprott had a return on equity of 15.04% and a net margin of 25.21%.The company had revenue of $49.18 million during the quarter, compared to analysts’ expectations of $49.71 million.

Sprott Trading Up 2.5%

NYSE:SII traded up $2.04 during trading hours on Wednesday, hitting $83.97. 138,770 shares of the stock were exchanged, compared to its average volume of 172,135. Sprott has a 52-week low of $39.33 and a 52-week high of $89.58. The firm’s fifty day moving average price is $77.58 and its 200 day moving average price is $68.14. The company has a market cap of $2.17 billion, a P/E ratio of 43.54 and a beta of 0.95.

Sprott Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 2nd. Shareholders of record on Monday, November 17th will be paid a dividend of $0.40 per share. This is an increase from Sprott’s previous quarterly dividend of $0.30. The ex-dividend date is Monday, November 17th. This represents a $1.60 annualized dividend and a yield of 1.9%. Sprott’s dividend payout ratio (DPR) is presently 62.18%.

Institutional Investors Weigh In On Sprott

Large investors have recently bought and sold shares of the company. Corient Private Wealth LLC grew its position in shares of Sprott by 80.9% in the second quarter. Corient Private Wealth LLC now owns 14,286 shares of the company’s stock valued at $987,000 after purchasing an additional 6,388 shares in the last quarter. BNP Paribas Financial Markets grew its position in shares of Sprott by 187.8% in the second quarter. BNP Paribas Financial Markets now owns 71,527 shares of the company’s stock valued at $4,942,000 after purchasing an additional 46,672 shares in the last quarter. PDT Partners LLC grew its position in shares of Sprott by 62.9% in the second quarter. PDT Partners LLC now owns 33,348 shares of the company’s stock valued at $2,304,000 after purchasing an additional 12,878 shares in the last quarter. Raymond James Financial Inc. grew its position in shares of Sprott by 4.1% in the second quarter. Raymond James Financial Inc. now owns 67,891 shares of the company’s stock valued at $4,691,000 after purchasing an additional 2,644 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in shares of Sprott by 1.5% in the second quarter. The Manufacturers Life Insurance Company now owns 15,351 shares of the company’s stock valued at $1,056,000 after purchasing an additional 225 shares in the last quarter. 28.30% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on the company. TD Securities cut Sprott from a “buy” rating to a “hold” rating in a research report on Tuesday, July 22nd. Weiss Ratings reiterated a “buy (b)” rating on shares of Sprott in a research note on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy”.

Sprott Company Profile

Sprott Inc is a publicly owned asset management holding company. Through its subsidiaries, the firm provides asset management, portfolio management, wealth management, fund management, and administrative and consulting services to its clients. It offers mutual funds, hedge funds, and offshore funds, along with managed accounts.