Sprott (NYSE:SII) Issues Quarterly Earnings Results, Beats Estimates By $0.06 EPS

Sprott (NYSE:SII) posted its earnings results on Wednesday. The company reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.06, Zacks reports. Sprott had a net margin of 23.26% and a return on equity of 15.16%. The firm had revenue of $49.18 million during the quarter, compared to analysts’ expectations of $49.71 million.

Sprott Price Performance

Shares of Sprott stock traded up $4.95 during trading on Friday, hitting $89.09. 142,405 shares of the company’s stock traded hands, compared to its average volume of 172,419. Sprott has a twelve month low of $39.33 and a twelve month high of $89.58. The company has a market cap of $2.30 billion, a PE ratio of 45.45 and a beta of 0.95. The firm’s fifty day moving average price is $78.35 and its 200 day moving average price is $68.36.

Sprott Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 2nd. Stockholders of record on Monday, November 17th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Monday, November 17th. This is a positive change from Sprott’s previous quarterly dividend of $0.30. Sprott’s payout ratio is 62.18%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Invesco Ltd. bought a new stake in Sprott during the 2nd quarter worth approximately $28,948,000. Vanguard Group Inc. boosted its stake in Sprott by 1,514.9% in the third quarter. Vanguard Group Inc. now owns 314,811 shares of the company’s stock worth $26,165,000 after purchasing an additional 295,317 shares in the last quarter. BNP Paribas Financial Markets grew its holdings in shares of Sprott by 187.8% during the second quarter. BNP Paribas Financial Markets now owns 71,527 shares of the company’s stock worth $4,942,000 after purchasing an additional 46,672 shares during the last quarter. Cannell Capital LLC acquired a new stake in shares of Sprott in the second quarter valued at $2,863,000. Finally, Bank of America Corp DE raised its holdings in shares of Sprott by 24.6% in the second quarter. Bank of America Corp DE now owns 171,388 shares of the company’s stock valued at $11,841,000 after buying an additional 33,828 shares during the last quarter. Institutional investors own 28.30% of the company’s stock.

Analyst Upgrades and Downgrades

SII has been the topic of a number of recent analyst reports. TD Securities downgraded Sprott from a “buy” rating to a “hold” rating in a research note on Tuesday, July 22nd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Sprott in a report on Wednesday, October 8th. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy”.

About Sprott

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.