Shares of Sprott Inc. (NYSE:SII) hit a new 52-week high during mid-day trading on Thursday, reaching $94.83 before closing at $92.22. This follows a previous closing price of $93.06, with a trading volume of 160,846 shares. Investors are closely monitoring the stock amid recent analyst commentary and corporate developments.
Analyst Ratings and Market Sentiment
Several brokerages have recently updated their ratings on Sprott. Weiss Ratings reaffirmed a “buy” rating on October 8, while TD Securities downgraded the stock from “buy” to “hold” on July 22. Currently, three research analysts have rated Sprott as a “buy,” while one has assigned a “hold” rating. According to MarketBeat, Sprott holds a consensus rating of “Moderate Buy,” reflecting a generally positive outlook among analysts.
On November 5, Sprott released its quarterly earnings, reporting earnings per share (EPS) of $0.51, surpassing analysts’ expectations of $0.45 by $0.06. The company achieved a return on equity of 15.01% and a net margin of 23.26%. Although revenue for the quarter was $49.18 million, it fell short of the anticipated $49.71 million.
Dividend Increase and Institutional Investments
In a significant move for shareholders, Sprott announced an increase in its quarterly dividend. Shareholders of record on November 17 will receive a dividend of $0.40 per share, payable on December 2. This marks an increase from the previous dividend of $0.30, resulting in an annualized dividend of $1.60 and a yield of 1.8%. The company’s dividend payout ratio currently stands at 61.54%.
Recent institutional trading activity has also drawn attention. Various large investors have adjusted their holdings in Sprott, including Allworth Financial LP, which acquired a new position valued at approximately $28,000, and Tacita Capital Inc., with a new position worth about $35,000. Other notable acquisitions include Ameritas Advisory Services LLC, which invested around $74,000, and Pacifica Partners Inc., which purchased shares valued at roughly $98,000. Institutional investors and hedge funds now collectively hold 28.30% of Sprott’s stock.
Sprott Inc. operates as a publicly owned asset management holding company. Through its subsidiaries, the firm provides a range of services, including asset management, portfolio management, and wealth management. The company offers mutual funds, hedge funds, and offshore funds, along with managed accounts, catering to a diverse clientele.
As Sprott continues to navigate market fluctuations and investor expectations, its recent achievements and strategic decisions will likely remain in focus for both analysts and shareholders alike.
