Sprott (NYSE:SII) Stock Price Up 10.3% After Dividend Announcement

Shares of Sprott Inc. (NYSE:SII) were up 10.3% during trading on Wednesday after the company announced a dividend. The company traded as high as $115.74 and last traded at $115.52. Approximately 154,923 shares traded hands during trading, a decline of 28% from the average session volume of 215,717 shares. The stock had previously closed at $104.75.

The newly announced dividend which will be paid on Tuesday, September 1st. Investors of record on Monday, August 17th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Monday, August 17th. This represents a $1.60 dividend on an annualized basis and a yield of 1.4%. Sprott’s dividend payout ratio (DPR) is currently 48.93%.

Wall Street Analyst Weigh In

SII has been the topic of several research analyst reports. TD Securities reiterated a “hold” rating on shares of Sprott in a research report on Thursday, May 7th. Weiss Ratings lowered Sprott from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, July 30th. Wall Street Zen upgraded Sprott from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Finally, Royal Bank Of Canada lifted their target price on Sprott from $218.00 to $230.00 and gave the company an “outperform” rating in a research report on Thursday, May 7th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Sprott has an average rating of “Moderate Buy” and an average price target of $230.00.

Sprott Stock Performance

The business has a 50-day simple moving average of $114.55 and a 200-day simple moving average of $129.44. The company has a market cap of $2.97 billion, a price-to-earnings ratio of 35.33 and a beta of 0.83.

Sprott (NYSE:SII) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $1.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.01). Sprott had a return on equity of 23.54% and a net margin of 21.99%.During the same quarter in the previous year, the company posted $0.52 earnings per share.

Institutional Investors Weigh In On Sprott

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Baron Wealth Management LLC lifted its stake in Sprott by 37.4% during the second quarter. Baron Wealth Management LLC now owns 2,796 shares of the company’s stock worth $314,000 after purchasing an additional 761 shares during the last quarter. Grove Bank & Trust acquired a new stake in Sprott during the second quarter worth approximately $56,000. Sapient Capital LLC lifted its position in shares of Sprott by 1,943.4% during the 1st quarter. Sapient Capital LLC now owns 46,262 shares of the company’s stock worth $6,578,000 after buying an additional 43,998 shares during the last quarter. Bank of America Corp DE grew its position in shares of Sprott by 121.7% in the 1st 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. Finally, EverSource Wealth Advisors LLC raised its stake in Sprott by 63.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 401 shares of the company’s stock worth $57,000 after acquiring an additional 155 shares in the last quarter. Institutional investors and hedge funds own 28.30% of the company’s stock.

Sprott Company Profile

Sprott Inc is a Toronto?based alternative asset manager specializing in precious metals, real assets and related investment vehicles. Founded in 1981 by Eric Sprott, the firm has built a reputation for offering physically backed bullion trusts, exchange?traded funds (ETFs), mutual funds and private managed accounts that provide exposure to gold, silver, platinum and other hard assets. Sprott’s product lineup also includes royalty and streaming strategies, which grant investors long?term participation in mining project cash flows without direct operational risk.

In addition to its flagship physical bullion trusts, Sprott offers actively managed equity portfolios that focus on companies engaged in the exploration, development and production of precious metals.