Sprott Inc. (NYSE:SII) Sees Significant Drop in Short Interest

Sprott Inc. (NYSE:SII – Get Free Report) was the target of a large decrease in short interest during the month of September. As of September 30th, there was short interest totaling 329,448 shares, a decrease of 35.6% from the September 15th total of 511,248 shares. Currently, 1.6% of the shares of the company are sold short. Based on an average trading volume of 101,087 shares, the short-interest ratio is currently 3.3 days.

Institutional Investors Weigh In On Sprott

Hedge funds have recently modified their holdings of the company. Corient Private Wealth LP increased its stake in shares of Sprott by 3.1% in the 2nd quarter. Corient Private Wealth LP now owns 3,938 shares of the company’s stock valued at $442,000 after purchasing an additional 120 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in Sprott by 63.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 401 shares of the company’s stock worth $57,000 after purchasing an additional 155 shares during the period. Archer Investment Corp acquired a new position in Sprott in the 2nd quarter worth about $25,000. Lazard Asset Management LLC raised its holdings in Sprott by 1.1% in the 1st quarter. Lazard Asset Management LLC now owns 23,764 shares of the company’s stock worth $3,392,000 after purchasing an additional 258 shares during the period. Finally, Aristides Capital LLC boosted its position in Sprott by 4.7% during the fourth quarter. Aristides Capital LLC now owns 6,273 shares of the company’s stock worth $614,000 after purchasing an additional 280 shares in the last quarter. 28.30% of the stock is owned by hedge funds and other institutional investors.

Sprott Price Performance

SII opened at $112.89 on Friday. The firm has a fifty day moving average price of $123.92 and a 200 day moving average price of $124.20. Sprott has a 1 year low of $78.79 and a 1 year high of $169.63. The stock has a market cap of $2.90 billion, a P/E ratio of 27.67 and a beta of 0.95.

Sprott (NYSE:SII – Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported $1.33 EPS for the quarter, missing the consensus estimate of $1.34 by ($0.01). Sprott had a net margin of 26.36% and a return on equity of 28.40%. The firm had revenue of $71.78 million for the quarter, compared to analyst estimates of $82.45 million. During the same quarter in the prior year, the business posted $0.52 EPS.

Sprott Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th were given a $0.40 dividend. The ex-dividend date was Monday, August 17th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.4%. Sprott’s dividend payout ratio is 39.22%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on SII shares. Wall Street Zen cut shares of Sprott from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. TD Securities reaffirmed a “hold” rating on shares of Sprott in a report on Thursday, August 6th. Finally, Weiss Ratings raised Sprott from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $230.00.

Check Out Our Latest Analysis on SII

About Sprott

(Get Free Report)

Sprott Inc (NYSE:SII) is an alternative asset management company focused primarily on precious metals, real assets and specialized investment strategies. Through its subsidiaries and investment platforms, the company manages assets for institutional and individual investors seeking exposure to areas such as gold, silver, uranium, energy-transition materials and other natural resources.

Sprott offers a range of investment products and services, including exchange-listed funds, closed-end funds, physical bullion trusts, private equity and private credit strategies, managed accounts and institutional mandates.

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