Sprott (NYSE:SII) Stock Rating Upgraded by Wall Street Zen

Sprott (NYSE:SII) was upgraded by equities researchers at Wall Street Zen from a “hold” rating to a “buy” rating in a report issued on Saturday.

Several other brokerages also recently commented on SII. Royal Bank Of Canada raised their target price on Sprott from $218.00 to $230.00 and gave the stock an “outperform” rating in a research note on Thursday. TD Securities reissued a “hold” rating on shares of Sprott in a research note on Thursday. 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 presently has a consensus rating of “Moderate Buy” and a consensus target price of $230.00.

Sprott Stock Up 0.1%

Shares of NYSE SII opened at $140.92 on Friday. Sprott has a 52 week low of $52.45 and a 52 week high of $169.63. The business has a 50-day simple moving average of $145.04 and a two-hundred day simple moving average of $117.89. The company has a market cap of $3.63 billion, a P/E ratio of 43.10 and a beta of 0.78.

Sprott (NYSE:SII) last issued its earnings results on Wednesday, May 6th. The company reported $1.13 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $78.06 million.

Institutional Investors Weigh In On Sprott

A number of hedge funds and other institutional investors have recently modified their holdings of SII. Mawer Investment Management Ltd. lifted its stake in shares of Sprott by 74.0% in the 3rd quarter. Mawer Investment Management Ltd. now owns 1,269,829 shares of the company’s stock valued at $105,637,000 after acquiring an additional 539,940 shares during the last quarter. Capital Research Global Investors lifted its stake in shares of Sprott by 88.1% in the 4th quarter. Capital Research Global Investors now owns 991,339 shares of the company’s stock valued at $97,101,000 after acquiring an additional 464,177 shares during the last quarter. Invesco Ltd. bought a new stake in shares of Sprott in the 2nd quarter valued at about $28,948,000. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Sprott by 99.6% in 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. Finally, Vanguard Group Inc. lifted its stake in shares of Sprott by 1,514.9% in the 3rd quarter. Vanguard Group Inc. now owns 314,811 shares of the company’s stock valued at $26,165,000 after acquiring an additional 295,317 shares during the last quarter. Institutional investors own 28.30% of the company’s stock.

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.