Sprott (NYSE:SII) Posts Earnings Results, Beats Expectations By $0.06 EPS

by · The Markets Daily

Sprott (NYSE:SII – Get Free Report) posted its quarterly 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. The business had revenue of $49.18 million during the quarter, compared to analyst estimates of $49.71 million. Sprott had a return on equity of 15.04% and a net margin of 25.21%.

Sprott Stock Up 2.5%

NYSE:SII traded up $2.04 during trading hours on Wednesday, reaching $83.97. 138,770 shares of the stock were exchanged, compared to its average volume of 172,135. The business has a 50-day moving average of $77.58 and a two-hundred day moving average of $68.14. Sprott has a twelve month low of $39.33 and a twelve month high of $89.58. The company has a market capitalization of $2.17 billion, a price-to-earnings ratio of 43.54 and a beta of 0.95.

Sprott Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 2nd. Shareholders of record on Monday, November 17th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.9%. This is a positive change from Sprott’s previous quarterly dividend of $0.30. The ex-dividend date is Monday, November 17th. Sprott’s payout ratio is currently 62.18%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in SII. The Manufacturers Life Insurance Company boosted its holdings in Sprott by 1.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 15,351 shares of the company’s stock valued at $1,056,000 after purchasing an additional 225 shares in the last quarter. Osaic Holdings Inc. boosted its holdings in Sprott by 5.9% in the 2nd quarter. Osaic Holdings Inc. now owns 10,449 shares of the company’s stock valued at $721,000 after purchasing an additional 579 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in Sprott by 10.0% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 12,525 shares of the company’s stock valued at $866,000 after purchasing an additional 1,143 shares in the last quarter. Raymond James Financial Inc. boosted its stake in shares of Sprott by 4.1% during the 2nd quarter. Raymond James Financial Inc. now owns 67,891 shares of the company’s stock worth $4,691,000 after acquiring an additional 2,644 shares in the last quarter. Finally, State of Wyoming boosted its stake in shares of Sprott by 104.5% during the 2nd quarter. State of Wyoming now owns 5,339 shares of the company’s stock worth $367,000 after acquiring an additional 2,728 shares in the last quarter. 28.30% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on SII. Weiss Ratings reiterated a “buy (b)” rating on shares of Sprott in a report on Wednesday, October 8th. TD Securities cut Sprott from a “buy” rating to a “hold” rating in a report on Tuesday, July 22nd. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, Sprott currently has a consensus rating of “Moderate Buy”.

Get Our Latest Analysis on Sprott

Sprott Company Profile

(Get Free Report)

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.

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