Sprott (NYSE:SII) Shares Down 5.1% - Here's Why

Sprott Inc. (NYSE:SII - Get Free Report) shares fell 5.1% during trading on Tuesday . The company traded as low as $70.90 and last traded at $70.99. 67,650 shares traded hands during trading, a decline of 51% from the average session volume of 137,833 shares. The stock had previously closed at $74.81.

Wall Street Analyst Weigh In

Separately, TD Securities downgraded Sprott from a "buy" rating to a "hold" rating in a research report on Tuesday.

Sprott Price Performance

The stock has a market capitalization of $1.85 billion, a P/E ratio of 37.38 and a beta of 1.04. The business's 50 day simple moving average is $64.82 and its 200-day simple moving average is $52.05.

Sprott (NYSE:SII - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.46 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 net margin of 27.53% and a return on equity of 15.34%.

Sprott Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 4th. Shareholders of record on Tuesday, May 20th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date of this dividend was Tuesday, May 20th. Sprott's dividend payout ratio is currently 62.50%.

Hedge Funds Weigh In On Sprott

Institutional investors have recently added to or reduced their stakes in the stock. Sprott Inc. increased its position in shares of Sprott by 1.5% during the first quarter. Sprott Inc. now owns 1,584,688 shares of the company's stock worth $71,105,000 after buying an additional 23,500 shares during the period. Global Alpha Capital Management Ltd. increased 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 worth $26,988,000 after buying an additional 175,200 shares during the period. Norges Bank acquired a new stake in shares of Sprott during the fourth quarter worth $20,936,000. Jacobs Asset Management LLC increased its position in shares of Sprott by 11.2% during the first quarter. Jacobs Asset Management LLC now owns 288,779 shares of the company's stock worth $12,958,000 after buying an additional 29,069 shares during the period. Finally, Clean Energy Transition LLP increased its position in shares of Sprott by 110.6% during the fourth quarter. Clean Energy Transition LLP now owns 194,372 shares of the company's stock worth $8,197,000 after buying an additional 102,064 shares during the period. 28.30% of the stock is currently owned by institutional investors and hedge funds.

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.