Sprott Inc. (NYSE:SII) Sees Significant Drop in Short Interest

Key Points

• Sprott Inc. saw a significant decrease in short interest by 28.1% in August, dropping to 380,700 shares, with a days-to-cover ratio of 2.0 days.
• TD Securities downgraded Sprott's stock rating from "buy" to "hold", although the overall consensus rating remains a "Moderate Buy".
• The company declared a quarterly dividend of $0.30, which represents an annualized payout of $1.20 and a yield of 1.8%.

Sprott Inc. (NYSE:SII - Get Free Report) was the target of a large decrease in short interest in August. As of August 15th, there was short interest totaling 380,700 shares, adecreaseof28.1% from the July 31st total of 529,700 shares. Based on an average daily volume of 189,200 shares, the days-to-cover ratio is currently 2.0 days. Currently,1.8% of the company's shares are sold short. Currently,1.8% of the company's shares are sold short. Based on an average daily volume of 189,200 shares, the days-to-cover ratio is currently 2.0 days.

Analyst Upgrades and Downgrades

Separately, TD Securities lowered shares of Sprott from a "buy" rating to a "hold" rating in a report on Tuesday, July 22nd. Two 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 company has a consensus rating of "Moderate Buy".

Sprott Stock Up 0.5%

Shares of NYSE:SII traded up $0.34 during midday trading on Monday, reaching $68.09. The company's stock had a trading volume of 90,183 shares, compared to its average volume of 166,408. The firm has a 50 day moving average of $68.20 and a 200-day moving average of $57.68. The firm has a market capitalization of $1.76 billion, a P/E ratio of 35.28 and a beta of 1.01. Sprott has a 12-month low of $38.51 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 for the quarter, topping analysts' consensus estimates of $0.38 by $0.14. Sprott had a net margin of 25.21% and a return on equity of 15.04%. The firm had revenue of $41.97 million for the quarter, compared to the consensus estimate of $44.66 million.

Sprott Dividend Announcement

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

Hedge Funds Weigh In On Sprott

A number of hedge funds have recently bought and sold shares of the company. Sprott Inc. boosted its stake in Sprott by 1.5% in the 1st quarter. Sprott Inc. now owns 1,584,688 shares of the company's stock worth $71,105,000 after purchasing an additional 23,500 shares in the last quarter. Mawer Investment Management Ltd. purchased a new position in Sprott in the 2nd quarter worth about $50,428,000. Global Alpha Capital Management Ltd. raised its position in Sprott by 41.0% in the 1st quarter. Global Alpha Capital Management Ltd. now owns 602,308 shares of the company's stock worth $26,988,000 after buying an additional 175,200 shares during the last quarter. Norges Bank purchased a new position in Sprott in the 2nd quarter worth about $40,161,000. Finally, Invesco Ltd. purchased a new position in Sprott in the 2nd quarter worth about $28,948,000. Institutional investors own 28.30% of the company's stock.

Sprott Company 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.

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