Sprott Inc. (NYSE:SII) Short Interest Update

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 significant decrease in short interest in August. As of August 15th, there was short interest totaling 380,700 shares, a decrease of 28.1% from the July 31st total of 529,700 shares. Based on an average trading volume of 189,200 shares, the days-to-cover ratio is currently 2.0 days. Currently, 1.8% of the shares of the stock are short sold. Currently, 1.8% of the shares of the stock are short sold. Based on an average trading volume of 189,200 shares, the days-to-cover ratio is currently 2.0 days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Allworth Financial LP purchased a new position in Sprott in the second quarter valued at about $28,000. Tacita Capital Inc purchased a new position in Sprott in the first quarter valued at about $35,000. Ameritas Advisory Services LLC purchased a new position in Sprott in the second quarter valued at about $74,000. Stonehage Fleming Financial Services Holdings Ltd boosted its holdings in Sprott by 34.1% in the second quarter. Stonehage Fleming Financial Services Holdings Ltd now owns 1,599 shares of the company's stock valued at $110,000 after purchasing an additional 407 shares during the last quarter. Finally, Deutsche Bank AG boosted its holdings in Sprott by 100.7% in the fourth quarter. Deutsche Bank AG now owns 2,164 shares of the company's stock valued at $91,000 after purchasing an additional 1,086 shares during the last quarter. Hedge funds and other institutional investors own 28.30% of the company's stock.

Analysts Set New Price Targets

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

Sprott Trading Up 0.7%

Shares of Sprott stock traded up $0.48 during trading hours on Friday, reaching $69.66. The stock had a trading volume of 79,883 shares, compared to its average volume of 142,909. The firm has a 50 day simple moving average of $68.19 and a two-hundred day simple moving average of $58.30. The firm has a market capitalization of $1.80 billion, a price-to-earnings ratio of 36.09 and a beta of 1.01. Sprott has a 1 year low of $39.33 and a 1 year high of $77.16.

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

Sprott Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders 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 dividend yield of 1.7%. Sprott's dividend payout ratio (DPR) is 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.