Sprott Inc. (NYSE:SII) Sees Large Decrease in Short Interest

Sprott Inc. (NYSE:SII) saw a significant decline in short interest in the month of September. As of September 30th, there was short interest totaling 329,448 shares, a decline of 35.6% from the September 15th total of 511,248 shares. Based on an average daily volume of 101,087 shares, the short-interest ratio is presently 3.3 days. Currently, 1.6% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

Several research firms have issued reports on SII. Wall Street Zen cut shares of Sprott from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. TD Securities reaffirmed a “hold” rating on shares of Sprott in a research note on Thursday, August 6th. Finally, Weiss Ratings upgraded Sprott from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, October 8th. 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.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $230.00.

Sprott Trading Down 4.7%

SII stock traded down $5.33 during midday trading on Friday, hitting $107.75. The company’s stock had a trading volume of 107,808 shares, compared to its average volume of 111,205. The company has a market cap of $2.77 billion, a PE ratio of 26.41 and a beta of 0.95. The firm’s 50-day moving average is $123.72 and its 200-day moving average is $124.09. Sprott has a 12 month low of $78.79 and a 12 month high of $169.63.

Sprott (NYSE:SII) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $1.33 EPS for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.01). The company had revenue of $71.78 million during the quarter, compared to the consensus estimate of $82.45 million. Sprott had a return on equity of 28.40% and a net margin of 26.36%. During the same quarter in the prior year, the firm earned $0.52 earnings per share.

Sprott Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Monday, August 17th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.5%. The ex-dividend date was Monday, August 17th. Sprott’s dividend payout ratio is 39.22%.

Hedge Funds Weigh In On Sprott

Hedge funds have recently modified their holdings of the stock. Bank of America Corp DE boosted its stake in Sprott by 121.7% during the first quarter. Bank of America Corp DE now owns 134,756 shares of the company’s stock valued at $19,257,000 after buying an additional 73,982 shares during the last quarter. Royal Bank of Canada increased its position in shares of Sprott by 29.4% during the first quarter. Royal Bank of Canada now owns 198,432 shares of the company’s stock worth $28,355,000 after acquiring an additional 45,120 shares during the period. WCM Investment Management LLC bought a new stake in shares of Sprott in the first quarter valued at about $17,068,000. Empowered Funds LLC purchased a new stake in Sprott during the first quarter worth $1,521,000. Finally, Sapient Capital LLC lifted its position in shares of Sprott by 1,943.4% during the first quarter. Sapient Capital LLC now owns 46,262 shares of the company’s stock valued at $6,578,000 after buying an additional 43,998 shares during the last quarter. Hedge funds and other institutional investors own 28.30% of the company’s stock.

About Sprott

Sprott Inc (NYSE:SII) is an alternative asset management company focused primarily on precious metals, real assets and specialized investment strategies. Through its subsidiaries and investment platforms, the company manages assets for institutional and individual investors seeking exposure to areas such as gold, silver, uranium, energy-transition materials and other natural resources.

Sprott offers a range of investment products and services, including exchange-listed funds, closed-end funds, physical bullion trusts, private equity and private credit strategies, managed accounts and institutional mandates.