Harbour Capital Advisors LLC Increases Stake in Sprott Inc. $SII

Key Points

• Harbour Capital Advisors LLC increased its stake in Sprott Inc. by 42.2% during the second quarter, now owning 14,580 shares worth approximately $993,000.
• Several institutional investors, including Global Alpha Capital Management and Millennium Management, have significantly raised their positions in Sprott, contributing to a total of 28.30% of the stock being held by institutional investors.
• Sprott reported a quarterly earnings per share (EPS) of $0.52, exceeding analysts' estimates by $0.14, along with a recently declared quarterly dividend of $0.30 per share.

Harbour Capital Advisors LLC grew its position in shares of Sprott Inc. (NYSE:SII - Free Report) by 42.2% in the second quarter, according to its most recent filing with the SEC. The fund owned 14,580 shares of the company's stock after acquiring an additional 4,325 shares during the quarter. Harbour Capital Advisors LLC owned about 0.06% of Sprott worth $993,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in SII. Global Alpha Capital Management Ltd. lifted its position in shares of Sprott by 41.0% during the first quarter. Global Alpha Capital Management Ltd. now owns 602,308 shares of the company's stock worth $26,988,000 after purchasing an additional 175,200 shares during the last quarter. Millennium Management LLC boosted its holdings in Sprott by 2,580.1% in the fourth quarter. Millennium Management LLC now owns 159,172 shares of the company's stock worth $6,709,000 after acquiring an additional 153,233 shares in the last quarter. Bastion Asset Management Inc. acquired a new stake in shares of Sprott during the first quarter worth about $4,221,000. Bank of America Corp DE increased its holdings in shares of Sprott by 94.1% during the 4th quarter. Bank of America Corp DE now owns 139,642 shares of the company's stock valued at $5,889,000 after purchasing an additional 67,689 shares in the last quarter. Finally, Nuveen LLC acquired a new position in shares of Sprott during the 1st quarter worth approximately $2,808,000. 28.30% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, TD Securities cut Sprott from a "buy" rating to a "hold" rating in a report on Tuesday, July 22nd. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Sprott currently has an average rating of "Moderate Buy".

Sprott Trading Up 1.4%

NYSE:SII opened at $72.94 on Friday. The firm has a market cap of $1.88 billion, a P/E ratio of 37.79 and a beta of 1.01. The stock's 50 day simple moving average is $68.33 and its 200-day simple moving average is $59.19. Sprott Inc. has a 12-month low of $39.33 and a 12-month high of $77.16.

Sprott (NYSE:SII - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $0.52 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.38 by $0.14. The business had revenue of $41.97 million for the quarter, compared to analyst estimates of $44.66 million. Sprott had a return on equity of 15.04% and a net margin of 25.21%.

Sprott Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th were issued a $0.30 dividend. The ex-dividend date of this dividend was Monday, August 18th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.6%. Sprott's payout ratio is presently 62.18%.

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.

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