Nations Financial Group Inc. IA ADV lessened its holdings in Sprott Inc. (NYSE:SII – Free Report) by 43.5% during the first quarter, HoldingsChannel reports. The institutional investor owned 13,000 shares of the company’s stock after selling 10,000 shares during the quarter. Nations Financial Group Inc. IA ADV’s holdings in Sprott were worth $1,858,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in SII. Jupiter Asset Management Ltd. bought a new position in Sprott in the 3rd quarter worth about $711,000. Picton Mahoney Asset Management boosted its position in shares of Sprott by 45.8% during the 3rd quarter. Picton Mahoney Asset Management now owns 275,478 shares of the company’s stock valued at $22,894,000 after acquiring an additional 86,525 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Sprott by 99.6% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 739,700 shares of the company’s stock valued at $61,466,000 after acquiring an additional 369,100 shares during the last quarter. Spark Investment Management LLC purchased a new position in shares of Sprott during the third quarter worth about $665,000. Finally, CWA Asset Management Group LLC grew its holdings in shares of Sprott by 58.2% during the fourth quarter. CWA Asset Management Group LLC now owns 71,604 shares of the company’s stock worth $7,011,000 after purchasing an additional 26,341 shares in the last quarter. Institutional investors own 28.30% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of brokerages recently weighed in on SII. Wall Street Zen raised shares of Sprott from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Royal Bank Of Canada increased their price target on shares of Sprott from $218.00 to $230.00 and gave the stock an “outperform” rating in a report on Thursday, May 7th. Weiss Ratings restated a “buy (b)” rating on shares of Sprott in a research report on Wednesday, May 20th. Finally, TD Securities reaffirmed a “hold” rating on shares of Sprott in a report on Thursday, May 7th. 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 currently has a consensus rating of “Moderate Buy” and a consensus target price of $230.00.
Sprott Trading Down 3.5%
NYSE SII opened at $117.98 on Tuesday. The firm has a market cap of $3.04 billion, a PE ratio of 36.08 and a beta of 0.76. Sprott Inc. has a 1-year low of $61.94 and a 1-year high of $169.63. The stock has a 50-day moving average of $131.60 and a 200-day moving average of $127.41.
Sprott (NYSE:SII – Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.20. Sprott had a return on equity of 23.54% and a net margin of 21.99%.The business had revenue of $80.75 million for the quarter, compared to analysts’ expectations of $78.06 million.
Sprott Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Wednesday, June 3rd. Investors of record on Tuesday, May 19th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date was Tuesday, May 19th. Sprott’s dividend payout ratio is currently 48.93%.
Sprott Company 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.
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