Sprott (NYSE:SII) Shares Down 5.6% - Here's What Happened

Key Points

• Sprott Inc. (NYSE:SII) shares decreased by 5.6%, closing at $83.55, down from a previous close of $88.55, with trading volume down 17% compared to its average.
• Analysts have mixed ratings for Sprott, with TD Securities downgrading their recommendation from "buy" to "hold," while Weiss Ratings maintained a "buy" rating.
• The company announced a quarterly dividend of $0.30 per share, translating to an annualized dividend of $1.20 and a yield of 1.5%.

Sprott Inc. (NYSE:SII - Get Free Report)'s share price fell 5.6% during trading on Thursday . The company traded as low as $82.56 and last traded at $83.55. 141,859 shares traded hands during mid-day trading, a decline of 17% from the average session volume of 170,527 shares. The stock had previously closed at $88.55.

Wall Street Analyst Weigh In

A number of research firms have commented on SII. Weiss Ratings reiterated a "buy (b)" rating on shares of Sprott in a research note on Wednesday. TD Securities lowered Sprott from a "buy" rating to a "hold" rating in a report on Tuesday, July 22nd. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy".

Sprott Price Performance

The stock has a market capitalization of $2.13 billion, a price-to-earnings ratio of 42.87 and a beta of 0.99. The firm has a fifty day moving average of $71.32 and a 200 day moving average of $62.95.

Sprott (NYSE:SII - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.38 by $0.14. The firm had revenue of $41.97 million for 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 declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th were given a dividend of $0.30 per share. The ex-dividend date was Monday, August 18th. This represents a $1.20 dividend on an annualized basis and a yield of 1.5%. Sprott's dividend payout ratio is currently 62.18%.

Hedge Funds Weigh In On Sprott

Several hedge funds and other institutional investors have recently made changes to their positions in SII. Mawer Investment Management Ltd. purchased a new position in shares of Sprott in the second quarter valued at approximately $50,428,000. Norges Bank purchased a new position in shares of Sprott in the second quarter valued at approximately $40,161,000. Invesco Ltd. purchased a new position in shares of Sprott in the second quarter valued at approximately $28,948,000. Hillsdale Investment Management Inc. purchased a new position in shares of Sprott in the second quarter valued at approximately $28,299,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Sprott by 5,047.2% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 370,600 shares of the company's stock valued at $25,634,000 after acquiring an additional 363,400 shares in the last quarter. Hedge funds and other institutional investors 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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