Connor Clark & Lunn Investment Management Ltd. Grows Stock Holdings in Sprott Inc. $SII

Connor Clark & Lunn Investment Management Ltd. raised its holdings in Sprott Inc. (NYSE:SII) by 5,047.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 370,600 shares of the company’s stock after purchasing an additional 363,400 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Sprott were worth $25,634,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Tacita Capital Inc purchased a new stake in Sprott in the 1st quarter worth approximately $35,000. Ameritas Advisory Services LLC acquired a new position in shares of Sprott in the 2nd quarter valued at $74,000. Stonehage Fleming Financial Services Holdings Ltd boosted its holdings in Sprott by 34.1% during the second quarter. Stonehage Fleming Financial Services Holdings Ltd now owns 1,599 shares of the company’s stock worth $110,000 after buying an additional 407 shares in the last quarter. Kathmere Capital Management LLC acquired a new stake in Sprott during the second quarter valued at $211,000. Finally, O Brien Greene & Co. Inc acquired a new stake in Sprott during the second quarter valued at $312,000. Hedge funds and other institutional investors own 28.30% of the company’s stock.

Sprott Trading Up 7.2%

SII stock opened at $90.21 on Monday. The firm has a 50-day moving average of $78.84 and a two-hundred day moving average of $68.85. Sprott Inc. has a 12 month low of $39.33 and a 12 month high of $90.46. The company has a market cap of $2.33 billion, a price-to-earnings ratio of 46.26 and a beta of 0.95.

Sprott (NYSE:SII) last issued its earnings results on Wednesday, November 5th. The company reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.06. Sprott had a return on equity of 15.01% and a net margin of 23.26%.The business had revenue of $49.18 million during the quarter, compared to the consensus estimate of $49.71 million.

Sprott Increases Dividend

The company also recently announced 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 represents a $1.60 dividend on an annualized basis and a yield of 1.8%. This is a boost from Sprott’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Monday, November 17th. Sprott’s payout ratio is presently 61.54%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on SII. Weiss Ratings restated a “buy (b)” rating on shares of Sprott in a research report on Wednesday, October 8th. TD Securities downgraded Sprott from a “buy” rating to a “hold” rating in a research report on Tuesday, July 22nd. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy”.

About Sprott

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.