Sprott (NYSE:SII) Reaches New 1-Year High – What’s Next?

Sprott Inc. (NYSE:SII)’s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as $167.69 and last traded at $167.0430, with a volume of 35790 shares. The stock had previously closed at $162.28.

Wall Street Analyst Weigh In

Several brokerages have issued reports on SII. Weiss Ratings reissued a “buy (b-)” rating on shares of Sprott in a research note on Monday, December 29th. Royal Bank Of Canada upgraded shares of Sprott from a “sector perform” rating to an “outperform” rating in a research note on Friday, February 20th. Wall Street Zen upgraded shares of Sprott from a “hold” rating to a “buy” rating in a research report on Saturday, February 21st. Finally, TD Securities reaffirmed a “hold” rating on shares of Sprott in a report on Friday, February 20th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $132.00.

Sprott Stock Up 4.0%

The stock has a market cap of $4.35 billion, a PE ratio of 64.82 and a beta of 0.94. The business’s fifty day moving average is $127.75 and its 200 day moving average is $98.89.

Sprott (NYSE:SII) last issued its earnings results on Thursday, February 19th. The company reported $1.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.58. Sprott had a net margin of 23.62% and a return on equity of 19.47%. The company had revenue of $61.70 million during the quarter, compared to analysts’ expectations of $69.12 million.

Sprott Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 17th. Investors of record on Monday, March 2nd will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Monday, March 2nd. Sprott’s dividend payout ratio (DPR) is presently 61.54%.

Institutional Trading of Sprott

A number of institutional investors have recently bought and sold shares of the company. Royal Bank of Canada grew its holdings in Sprott by 29.1% in the first quarter. Royal Bank of Canada now owns 109,878 shares of the company’s stock valued at $4,930,000 after purchasing an additional 24,763 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Sprott by 7.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 59,917 shares of the company’s stock worth $2,688,000 after buying an additional 4,326 shares in the last quarter. Bank of Montreal Can grew its stake in Sprott by 33.8% in the 2nd quarter. Bank of Montreal Can now owns 104,434 shares of the company’s stock valued at $7,224,000 after acquiring an additional 26,363 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in Sprott by 5,047.2% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 370,600 shares of the company’s stock valued at $25,634,000 after acquiring an additional 363,400 shares during the last quarter. Finally, Acadian Asset Management LLC increased its holdings in Sprott by 48.0% during the 2nd quarter. Acadian Asset Management LLC now owns 106,011 shares of the company’s stock valued at $7,302,000 after acquiring an additional 34,400 shares in the last quarter. 28.30% of the stock is currently owned by hedge funds and other institutional investors.

About Sprott

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.