Sprott (NYSE:SII) Rating Lowered to "Hold" at TD Securities

Sprott (NYSE:SII - Get Free Report) was downgraded by investment analysts at TD Securities from a "buy" rating to a "hold" rating in a research note issued to investors on Tuesday, Marketbeat.com reports.

Sprott Stock Performance

SII stock opened at $74.91 on Tuesday. Sprott has a 52-week low of $38.41 and a 52-week high of $77.16. The firm has a market capitalization of $1.93 billion, a price-to-earnings ratio of 39.02 and a beta of 1.04. The firm has a 50 day moving average price of $63.72 and a 200-day moving average price of $51.55.

Sprott (NYSE:SII - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.14. The business had revenue of $37.38 million for the quarter, compared to analysts' expectations of $40.48 million. Sprott had a return on equity of 15.34% and a net margin of 27.53%.

Institutional Investors Weigh In On Sprott

Hedge funds and other institutional investors have recently modified their holdings of the stock. Norges Bank purchased a new position in shares of Sprott during the fourth quarter valued at about $20,936,000. Global Alpha Capital Management Ltd. grew 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 valued at $26,988,000 after purchasing an additional 175,200 shares in the last quarter. T. Rowe Price Investment Management Inc. purchased a new position in shares of Sprott during the fourth quarter valued at about $7,039,000. Arrowstreet Capital Limited Partnership grew its position in shares of Sprott by 757.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 184,995 shares of the company's stock valued at $7,794,000 after purchasing an additional 163,427 shares in the last quarter. Finally, Millennium Management LLC grew its position in shares of Sprott by 2,580.1% during the fourth quarter. Millennium Management LLC now owns 159,172 shares of the company's stock valued at $6,709,000 after purchasing an additional 153,233 shares in the last quarter. 28.30% of the stock is currently owned by hedge funds and other institutional investors.

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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