Sprott (NYSE:SII) Sets New 12-Month High - Still a Buy?

Key Points

• Sprott Inc. (NYSE:SII) hit a new 52-week high of $77.70 in trading, marking a significant increase from its previous close of $74.86.
• TD Securities downgraded Sprott from a "buy" to a "hold" rating, contributing to a consensus rating of "Moderate Buy" among analysts.
• The company reported earnings of $0.52 per share for the last quarter, surpassing analyst expectations, though its revenue fell short of estimates at $41.97 million.

Sprott Inc. (NYSE:SII - Get Free Report)'s share price reached a new 52-week high during trading on Tuesday . The company traded as high as $77.70 and last traded at $77.70, with a volume of 105759 shares changing hands. The stock had previously closed at $74.86.

Analyst Ratings Changes

Separately, TD Securities cut Sprott from a "buy" rating to a "hold" rating in a research report on Tuesday, July 22nd. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, Sprott presently has a consensus rating of "Moderate Buy".

Sprott Stock Up 3.7%

The firm has a market cap of $2.00 billion, a P/E ratio of 40.20 and a beta of 1.01. The company has a fifty day simple moving average of $68.39 and a 200-day simple moving average of $59.64.

Sprott (NYSE:SII - Get Free Report) last released its quarterly earnings data 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. The firm had revenue of $41.97 million during the quarter, compared to analyst estimates of $44.66 million. Sprott had a return on equity of 15.04% and a net margin of 25.21%.

Sprott Announces Dividend

The firm also recently disclosed 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 of this dividend was Monday, August 18th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.5%. Sprott's dividend payout ratio is 62.18%.

Hedge Funds Weigh In On Sprott

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SII. Bank of America Corp DE boosted its stake in Sprott by 94.1% during the fourth quarter. Bank of America Corp DE now owns 139,642 shares of the company's stock valued at $5,889,000 after buying an additional 67,689 shares during the last quarter. Cetera Investment Advisers boosted its stake in Sprott by 18.4% during the fourth quarter. Cetera Investment Advisers now owns 9,071 shares of the company's stock valued at $382,000 after buying an additional 1,412 shares during the last quarter. D. E. Shaw & Co. Inc. boosted its stake in Sprott by 34.6% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 10,900 shares of the company's stock valued at $459,000 after buying an additional 2,800 shares during the last quarter. Deutsche Bank AG boosted its stake in Sprott by 100.7% during the fourth quarter. Deutsche Bank AG now owns 2,164 shares of the company's stock valued at $91,000 after buying an additional 1,086 shares during the last quarter. Finally, Millennium Management LLC boosted its stake in 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 buying an additional 153,233 shares during the last quarter. 28.30% of the stock is owned by institutional investors.

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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