Balyasny Asset Management L.P. Trims Stake in Sprott Inc. (NYSE:SII)

Balyasny Asset Management L.P. cut its position in shares of Sprott Inc. (NYSE:SII) by 9.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 141,590 shares of the company’s stock after selling 15,548 shares during the period. Balyasny Asset Management L.P. owned approximately 0.55% of Sprott worth $5,971,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Bank of America Corp DE boosted its holdings in Sprott by 94.1% during the 4th quarter. Bank of America Corp DE now owns 139,642 shares of the company’s stock valued at $5,889,000 after acquiring an additional 67,689 shares during the period. BNP Paribas Financial Markets purchased a new stake in shares of Sprott during the fourth quarter valued at $869,000. Regal Partners Ltd boosted its stake in shares of Sprott by 34.0% during the fourth quarter. Regal Partners Ltd now owns 88,944 shares of the company’s stock valued at $3,751,000 after purchasing an additional 22,566 shares during the period. The Manufacturers Life Insurance Company grew its holdings in shares of Sprott by 2.8% in the fourth quarter. The Manufacturers Life Insurance Company now owns 17,631 shares of the company’s stock worth $744,000 after purchasing an additional 476 shares during the last quarter. Finally, Aquatic Capital Management LLC increased its stake in Sprott by 34.9% in the 4th quarter. Aquatic Capital Management LLC now owns 5,937 shares of the company’s stock worth $250,000 after buying an additional 1,537 shares during the period. 28.30% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on SII shares. Canaccord Genuity Group initiated coverage on shares of Sprott in a research note on Tuesday, January 21st. They issued a “buy” rating on the stock. BMO Capital Markets began coverage on Sprott in a report on Friday, March 7th. They set an “outperform” rating on the stock.

Sprott Stock Up 2.7 %

NYSE:SII opened at $55.27 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.30 and a quick ratio of 3.30. Sprott Inc. has a 1-year low of $38.41 and a 1-year high of $55.90. The company has a 50-day moving average of $46.95 and a 200 day moving average of $44.51. The firm has a market cap of $1.43 billion, a PE ratio of 30.37 and a beta of 0.98.

Sprott (NYSE:SII) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.14. The firm had revenue of $37.38 million during the quarter, compared to analysts’ expectations of $40.48 million. Sprott had a net margin of 27.38% and a return on equity of 15.02%.

Sprott Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 4th. Stockholders of record on Tuesday, May 20th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.17%. The ex-dividend date is Tuesday, May 20th. Sprott’s payout ratio is 62.50%.

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.