Bank of America Corp DE Acquires 67,689 Shares of Sprott Inc. (NYSE:SII)

Bank of America Corp DE raised its position in shares of Sprott Inc. (NYSE:SII - Free Report) by 94.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 139,642 shares of the company's stock after acquiring an additional 67,689 shares during the quarter. Bank of America Corp DE owned approximately 0.54% of Sprott worth $5,889,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Sprott Inc. increased its stake in shares of Sprott by 6.9% in the 4th quarter. Sprott Inc. now owns 1,561,188 shares of the company's stock worth $65,835,000 after acquiring an additional 100,585 shares in the last quarter. Norges Bank bought a new stake in Sprott during the fourth quarter worth about $20,936,000. Clean Energy Transition LLP boosted its stake in Sprott by 110.6% during the fourth quarter. Clean Energy Transition LLP now owns 194,372 shares of the company's stock worth $8,197,000 after acquiring an additional 102,064 shares in the last quarter. Horizon Kinetics Asset Management LLC boosted its stake in Sprott by 18.9% during the fourth quarter. Horizon Kinetics Asset Management LLC now owns 192,466 shares of the company's stock worth $8,116,000 after acquiring an additional 30,622 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its stake in Sprott by 757.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 184,995 shares of the company's stock worth $7,794,000 after acquiring an additional 163,427 shares in the last quarter. Hedge funds and other institutional investors own 28.30% of the company's stock.

Analysts Set New Price Targets

Separately, BMO Capital Markets assumed coverage on shares of Sprott in a research note on Friday, March 7th. They set an "outperform" rating on the stock.

Sprott Stock Performance

Sprott stock traded down $0.41 during midday trading on Thursday, reaching $58.09. 163,626 shares of the company traded hands, compared to its average volume of 128,539. The firm has a market capitalization of $1.50 billion, a price-to-earnings ratio of 31.92 and a beta of 0.98. The business has a 50 day moving average of $50.37 and a two-hundred day moving average of $45.55. Sprott Inc. has a 12 month low of $38.41 and a 12 month high of $59.14. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.30 and a quick ratio of 3.30.

Sprott (NYSE:SII - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.14. Sprott had a net margin of 27.38% and a return on equity of 15.02%. The business had revenue of $37.38 million for the quarter, compared to the consensus estimate of $40.48 million.

Sprott Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 4th. Stockholders of record on Tuesday, May 20th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Tuesday, May 20th. This represents a $1.20 annualized dividend and a dividend yield of 2.07%. Sprott's payout ratio is 62.50%.

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.