Jacobs Asset Management LLC Has $12.96 Million Position in Sprott Inc. $SII

Key Points

• Jacobs Asset Management LLC increased its stake in Sprott Inc. by 11.2%, acquiring an additional 29,069 shares, making it the firm's second-largest holding at approximately $12.96 million.
• Sprott has received a consensus rating of "Moderate Buy" from analysts, although TD Securities recently downgraded its rating from "buy" to "hold."
• The company announced a quarterly dividend of $0.30 per share, scheduled for payment on September 2nd, representing an annualized yield of 1.9%.

Jacobs Asset Management LLC grew its holdings in Sprott Inc. (NYSE:SII - Free Report) by 11.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 288,779 shares of the company's stock after buying an additional 29,069 shares during the period. Sprott accounts for about 8.1% of Jacobs Asset Management LLC's portfolio, making the stock its 2nd biggest holding. Jacobs Asset Management LLC owned approximately 1.12% of Sprott worth $12,958,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in Sprott by 24.9% during the 1st quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 11,382 shares of the company's stock valued at $510,000 after purchasing an additional 2,266 shares during the last quarter. Sprott Inc. raised its position in shares of Sprott by 1.5% in the first quarter. Sprott Inc. now owns 1,584,688 shares of the company's stock valued at $71,105,000 after purchasing an additional 23,500 shares during the period. Raymond James Financial Inc. lifted its stake in shares of Sprott by 8.7% during the 1st quarter. Raymond James Financial Inc. now owns 65,247 shares of the company's stock worth $2,928,000 after buying an additional 5,220 shares during the last quarter. Tocqueville Asset Management L.P. boosted its holdings in shares of Sprott by 15.8% during the 1st quarter. Tocqueville Asset Management L.P. now owns 164,043 shares of the company's stock worth $7,361,000 after buying an additional 22,345 shares during the period. Finally, Tacita Capital Inc acquired a new position in Sprott in the 1st quarter valued at about $35,000. 28.30% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, TD Securities downgraded shares of Sprott from a "buy" rating to a "hold" rating in a research report on Tuesday, July 22nd. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy".

Sprott Stock Up 0.4%

Shares of Sprott stock traded up $0.23 during trading on Thursday, reaching $65.03. The company's stock had a trading volume of 122,972 shares, compared to its average volume of 197,352. The business's 50-day moving average price is $68.15 and its 200-day moving average price is $56.34. Sprott Inc. has a 52 week low of $38.44 and a 52 week high of $77.16. The firm has a market cap of $1.68 billion, a PE ratio of 33.69 and a beta of 1.04.

Sprott (NYSE:SII - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.52 EPS for the quarter, topping 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 net margin of 25.21% and a return on equity of 15.04%.

Sprott Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Monday, August 18th. Sprott's payout ratio is presently 62.18%.

Sprott Profile

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.