Sprott's (SII) "Buy (B)" Rating Reaffirmed at Weiss Ratings

Key Points

• Weiss Ratings has reaffirmed a "Buy (B)" rating for Sprott (NYSE:SII), while TD Securities downgraded its rating from "buy" to "hold".
• Sprott's stock reached $88.55 with a market capitalization of $2.28 billion and a PE ratio of 45.88, showcasing a significant performance increase.
• The company reported earnings of $0.52 per share, exceeding analysts' expectations despite revenues falling short at $41.97 million.

Sprott (NYSE:SII - Get Free Report)'s stock had its "buy (b)" rating reiterated by equities research analysts at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

Separately, TD Securities cut shares of Sprott from a "buy" rating to a "hold" rating in a research report on Tuesday, July 22nd. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, Sprott presently has a consensus rating of "Moderate Buy".

Sprott Price Performance

SII traded up $1.56 during midday trading on Wednesday, reaching $88.55. 196,311 shares of the company's stock were exchanged, compared to its average volume of 181,079. The stock has a market capitalization of $2.28 billion, a PE ratio of 45.88 and a beta of 0.99. The business's 50-day moving average price is $71.01 and its 200 day moving average price is $62.68. Sprott has a 1-year low of $39.33 and a 1-year high of $89.58.

Sprott (NYSE:SII - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $0.52 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.38 by $0.14. The company had revenue of $41.97 million during the quarter, compared to analysts' expectations of $44.66 million. Sprott had a net margin of 25.21% and a return on equity of 15.04%.

Hedge Funds Weigh In On Sprott

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Osaic Holdings Inc. increased its position in Sprott by 5.9% during the second quarter. Osaic Holdings Inc. now owns 10,449 shares of the company's stock worth $721,000 after purchasing an additional 579 shares during the last quarter. State of Wyoming increased its position in Sprott by 104.5% during the second quarter. State of Wyoming now owns 5,339 shares of the company's stock worth $367,000 after purchasing an additional 2,728 shares during the last quarter. Cannell Capital LLC acquired a new position in Sprott during the second quarter worth approximately $2,863,000. Corient Private Wealth LLC increased its position in Sprott by 80.9% during the second quarter. Corient Private Wealth LLC now owns 14,286 shares of the company's stock worth $987,000 after purchasing an additional 6,388 shares during the last quarter. Finally, Engineers Gate Manager LP increased its position in Sprott by 63.5% during the second quarter. Engineers Gate Manager LP now owns 10,248 shares of the company's stock worth $708,000 after purchasing an additional 3,980 shares during 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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