Sprott Inc. $SII Stake Boosted by CWA Asset Management Group LLC

Key Points

• CWA Asset Management Group increased its Sprott stake by 61.6% in the third quarter, bringing its holdings to 142,755 shares valued at approximately $17.0 million. Institutional investors and hedge funds collectively own 28.3% of Sprott.
• Sprott reported quarterly revenue of $71.78 million and earnings of $1.33 per share, slightly below analyst expectations. The company maintains a quarterly dividend of $0.40 per share, equivalent to a 1.5% yield.
• Sprott shares opened at $107.32, down 0.8%, while analyst sentiment remained a “Moderate Buy,” with an average price target of $230.00.

CWA Asset Management Group LLC grew its stake in shares of Sprott Inc. (NYSE:SII - Free Report) by 61.6% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 142,755 shares of the company's stock after acquiring an additional 54,416 shares during the period. CWA Asset Management Group LLC owned 0.56% of Sprott worth $17,042,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. TD Waterhouse Canada Inc. boosted its position in Sprott by 345.5% during the third quarter. TD Waterhouse Canada Inc. now owns 37,448 shares of the company's stock valued at $4,237,000 after purchasing an additional 29,043 shares during the last quarter. Copeland Capital Management LLC increased its position in Sprott by 255,707.1% in the 3rd quarter. Copeland Capital Management LLC now owns 286,504 shares of the company's stock worth $34,203,000 after purchasing an additional 286,392 shares during the last quarter. B. Riley Wealth Advisors Inc. purchased a new stake in shares of Sprott during the 3rd quarter worth about $636,000. Baird Financial Group Inc. raised its stake in shares of Sprott by 2.0% during the 2nd quarter. Baird Financial Group Inc. now owns 97,614 shares of the company's stock worth $10,967,000 after purchasing an additional 1,952 shares in the last quarter. Finally, Arcus Capital Partners LLC raised its stake in shares of Sprott by 15.4% during the 2nd quarter. Arcus Capital Partners LLC now owns 3,230 shares of the company's stock worth $363,000 after purchasing an additional 430 shares in the last quarter. 28.30% of the stock is owned by institutional investors and hedge funds.

Sprott Stock Down 0.8%

Shares of Sprott stock opened at $107.32 on Tuesday. The stock has a market capitalization of $2.76 billion, a P/E ratio of 26.30 and a beta of 0.95. The stock has a 50 day moving average price of $123.55 and a two-hundred day moving average price of $123.77. Sprott Inc. has a 12-month low of $78.79 and a 12-month high of $169.63.

Sprott (NYSE:SII - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $1.33 EPS for the quarter, missing the consensus estimate of $1.34 by ($0.01). Sprott had a net margin of 26.36% and a return on equity of 28.40%. The company had revenue of $71.78 million for the quarter, compared to analyst estimates of $82.45 million. During the same quarter last year, the business earned $0.52 EPS.

Sprott Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Monday, August 17th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend was Monday, August 17th. Sprott's dividend payout ratio is currently 39.22%.

Analyst Ratings Changes

Several brokerages have recently issued reports on SII. Wall Street Zen lowered Sprott from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. TD Securities reissued a "hold" rating on shares of Sprott in a research note on Thursday, August 6th. Finally, Weiss Ratings upgraded Sprott from a "buy (b-)" rating to a "buy (b)" rating in a report on Thursday, October 8th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Sprott currently has an average rating of "Moderate Buy" and an average target price of $230.00.

Sprott Company Profile

Sprott Inc NYSE: SII is an alternative asset management company focused primarily on precious metals, real assets and specialized investment strategies. Through its subsidiaries and investment platforms, the company manages assets for institutional and individual investors seeking exposure to areas such as gold, silver, uranium, energy-transition materials and other natural resources.

Sprott offers a range of investment products and services, including exchange-listed funds, closed-end funds, physical bullion trusts, private equity and private credit strategies, managed accounts and institutional mandates.

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