Sprott (NYSE:SII) Trading 3.5% Higher – Here’s Why

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

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on SII. Canaccord Genuity Group initiated coverage on Sprott in a research report on Tuesday, January 21st. They set a “buy” rating for the company. BMO Capital Markets began coverage on Sprott in a report on Friday, March 7th. They set an “outperform” rating for the company.

Sprott Stock Performance

The firm’s 50-day moving average price is $42.73 and its two-hundred 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 firm has a market capitalization of $1.16 billion, a PE ratio of 24.64 and a beta of 1.08.

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

Sprott Dividend Announcement

The firm also recently declared 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. This represents a $1.20 annualized dividend and a yield of 2.68%. The ex-dividend date of this dividend is Monday, March 10th. Sprott’s payout ratio is 63.16%.

Institutional Investors Weigh In On Sprott

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

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.