Sprott (NYSE:SII) Reaches New 52-Week High – Time to Buy?

Sprott Inc. (NYSE:SII)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $167.69 and last traded at $167.0430, with a volume of 35790 shares. The stock had previously closed at $162.28.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Royal Bank Of Canada upgraded Sprott from a “sector perform” rating to an “outperform” rating in a research note on Friday, February 20th. Weiss Ratings reissued a “buy (b-)” rating on shares of Sprott in a report on Monday, December 29th. TD Securities restated a “hold” rating on shares of Sprott in a research report on Friday, February 20th. Finally, Wall Street Zen raised shares of Sprott from a “hold” rating to a “buy” rating in a research report on Saturday, February 21st. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $132.00.

Sprott Stock Up 4.0%

The company has a market cap of $4.35 billion, a price-to-earnings ratio of 64.82 and a beta of 0.94. The firm has a 50-day simple moving average of $127.75 and a 200 day simple moving average of $98.89.

Sprott (NYSE:SII) last posted its quarterly earnings data on Thursday, February 19th. The company reported $1.11 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.58. The business had revenue of $61.70 million during the quarter, compared to the consensus estimate of $69.12 million. Sprott had a return on equity of 19.47% and a net margin of 23.62%.

Sprott Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 17th. Investors of record on Monday, March 2nd will be paid a dividend of $0.40 per share. The ex-dividend date is Monday, March 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 0.9%. Sprott’s dividend payout ratio is currently 61.54%.

Institutional Investors Weigh In On Sprott

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd increased its position in Sprott by 124.7% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 528 shares of the company’s stock valued at $52,000 after acquiring an additional 293 shares during the period. Aristides Capital LLC raised its stake in Sprott by 4.7% during the 4th quarter. Aristides Capital LLC now owns 6,273 shares of the company’s stock valued at $614,000 after acquiring an additional 280 shares during the last quarter. Virtu Financial LLC acquired a new stake in Sprott during the 4th quarter worth approximately $209,000. TMB Capital Partners LLC purchased a new position in shares of Sprott in the 4th quarter valued at approximately $3,137,000. Finally, Mackenzie Financial Corp increased its holdings in shares of Sprott by 71.1% in the fourth quarter. Mackenzie Financial Corp now owns 23,602 shares of the company’s stock valued at $2,315,000 after purchasing an additional 9,811 shares during the period. 28.30% of the stock is owned by hedge funds and other institutional investors.

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.