Sprott (NYSE:SII) Reaches New 52-Week High - Here's What Happened

Sprott Inc. (NYSE:SII - Get Free Report)'s share price reached a new 52-week high during trading on Wednesday . The company traded as high as $56.75 and last traded at $56.58, with a volume of 104404 shares. The stock had previously closed at $56.35.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. BMO Capital Markets assumed coverage on Sprott in a report on Friday, March 7th. They issued an "outperform" rating on the stock. Canaccord Genuity Group assumed coverage on shares of Sprott in a research note on Tuesday, January 21st. They issued a "buy" rating on the stock.

Sprott Stock Up 0.4%

The company has a quick ratio of 3.30, a current ratio of 3.30 and a debt-to-equity ratio of 0.06. The stock's 50-day simple moving average is $48.74 and its 200 day simple moving average is $44.99. The firm has a market cap of $1.46 billion, a P/E ratio of 31.09 and a beta of 0.98.

Sprott (NYSE:SII - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.32 by $0.14. Sprott had a return on equity of 15.02% and a net margin of 27.38%. The company had revenue of $37.38 million for the quarter, compared to analyst estimates of $40.48 million.

Sprott Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 4th. Shareholders of record on Tuesday, May 20th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date is Tuesday, May 20th. Sprott's payout ratio is 62.50%.

Institutional Trading of Sprott

Several large investors have recently modified their holdings of SII. Norges Bank acquired a new position in shares of Sprott during the 4th quarter valued at $20,936,000. Global Alpha Capital Management Ltd. raised its holdings 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 during the period. T. Rowe Price Investment Management Inc. bought a new position in shares of Sprott during the 4th quarter worth about $7,039,000. Arrowstreet Capital Limited Partnership grew its stake in shares of Sprott by 757.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 184,995 shares of the company's stock valued at $7,794,000 after buying an additional 163,427 shares during the period. Finally, Millennium Management LLC increased its position in Sprott by 2,580.1% in the 4th quarter. Millennium Management LLC now owns 159,172 shares of the company's stock valued at $6,709,000 after buying an additional 153,233 shares in the last quarter. Institutional investors and hedge funds own 28.30% of the company's stock.

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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