Sprott (NYSE:SII) Sees Large Volume Increase Following Better-Than-Expected Earnings

Key Points

• Sprott Inc. reported earnings of $0.52 per share, significantly surpassing analysts' expectations of $0.38, leading to a 51% increase in trading volume with approximately 252,366 shares exchanged.
• Despite the positive earnings report, TD Securities downgraded Sprott's stock from a "buy" rating to a "hold" rating shortly before the earnings announcement.
• Institutional investors now hold 28.30% of Sprott's shares, with notable investments including Deutsche Bank AG, which increased its stake by over 100% in the last quarter.

Sprott Inc. (NYSE:SII - Get Free Report) shares saw unusually-strong trading volume on Wednesday following a better than expected earnings announcement. Approximately 252,366 shares traded hands during trading, an increase of 51% from the previous session's volume of 166,708 shares.The stock last traded at $64.98 and had previously closed at $68.58.

The company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.38 by $0.14. Sprott had a net margin of 27.53% and a return on equity of 15.34%.

Wall Street Analyst Weigh In

Separately, TD Securities downgraded shares of Sprott from a "buy" rating to a "hold" rating in a research note on Tuesday, July 22nd.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of SII. Tacita Capital Inc acquired a new position in shares of Sprott in the 1st quarter worth approximately $35,000. Ameritas Advisory Services LLC acquired a new position in shares of Sprott in the 2nd quarter worth approximately $74,000. Deutsche Bank AG lifted its position in shares of Sprott by 100.7% in the 4th quarter. Deutsche Bank AG now owns 2,164 shares of the company's stock worth $91,000 after purchasing an additional 1,086 shares during the period. Stonehage Fleming Financial Services Holdings Ltd lifted its position in shares of Sprott by 34.1% in the 2nd quarter. Stonehage Fleming Financial Services Holdings Ltd now owns 1,599 shares of the company's stock worth $110,000 after purchasing an additional 407 shares during the period. Finally, Kathmere Capital Management LLC acquired a new position in shares of Sprott in the 2nd quarter worth approximately $211,000. Institutional investors and hedge funds own 28.30% of the company's stock.

Sprott Trading Down 6.3%

The stock's 50-day moving average is $66.99 and its 200-day moving average is $53.83. The company has a market cap of $1.66 billion, a price-to-earnings ratio of 33.64 and a beta of 1.04.

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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