Sprott (NYSE:SII) Stock Price Up 3.5% – Here’s Why

Shares of Sprott Inc. (NYSE:SII) shot up 3.5% during mid-day trading on Tuesday . The stock traded as high as $45.14 and last traded at $44.71. 70,691 shares traded hands during mid-day trading, a decline of 31% from the average session volume of 102,120 shares. The stock had previously closed at $43.19.

Wall Street Analyst Weigh In

SII has been the topic of several analyst reports. Canaccord Genuity Group started coverage on shares of Sprott in a research report on Tuesday, January 21st. They set a “buy” rating on the stock. BMO Capital Markets initiated coverage on Sprott in a report on Friday, March 7th. They set an “outperform” rating on the stock.

Sprott Stock Performance

The stock’s 50-day moving average price is $42.73 and its 200 day moving average price is $43.13. The company has a quick ratio of 3.30, a current ratio of 3.30 and a debt-to-equity ratio of 0.06. The company has a market cap of $1.16 billion, a P/E ratio of 24.64 and a beta of 1.08.

Sprott (NYSE:SII) last posted its earnings results on Wednesday, February 26th. The company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.12. The business had revenue of $36.80 million for the quarter, compared to analyst estimates of $38.45 million. Sprott had a net margin of 27.38% and a return on equity of 15.02%.

Sprott Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Monday, March 10th will be given a dividend of $0.30 per share. The ex-dividend date is Monday, March 10th. This represents a $1.20 annualized dividend and a dividend yield of 2.68%. Sprott’s dividend payout ratio is presently 63.16%.

Institutional Trading of Sprott

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Two Sigma Advisers LP lifted its holdings in shares of Sprott by 367.6% during the fourth quarter. Two Sigma Advisers LP now owns 49,100 shares of the company’s stock worth $2,071,000 after buying an additional 38,600 shares during the last quarter. Two Sigma Investments LP grew its stake in shares of Sprott by 116.3% in the fourth quarter. Two Sigma Investments LP now owns 81,506 shares of the company’s stock worth $3,437,000 after acquiring an additional 43,821 shares during the last quarter. Point72 Asset Management L.P. increased its position in Sprott by 20.8% during the fourth quarter. Point72 Asset Management L.P. now owns 15,100 shares of the company’s stock worth $637,000 after acquiring an additional 2,600 shares during the period. Man Group plc acquired a new position in Sprott during the 4th quarter valued at $484,000. Finally, Millennium Management LLC boosted its holdings in Sprott by 2,580.1% in the 4th quarter. Millennium Management LLC now owns 159,172 shares of the company’s stock valued at $6,709,000 after purchasing an additional 153,233 shares during the period. Institutional investors and hedge funds own 28.30% of the company’s stock.

Sprott Company Profile

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.