Vanguard Group Inc. Has $56.22 Million Position in Sprott Inc. $SII

Vanguard Group Inc. boosted its holdings in shares of Sprott Inc. (NYSE:SII) by 82.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 573,923 shares of the company’s stock after acquiring an additional 259,112 shares during the quarter. Vanguard Group Inc.’s holdings in Sprott were worth $56,215,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. Sprott Inc. boosted its stake in Sprott by 3.7% during the third quarter. Sprott Inc. now owns 1,645,582 shares of the company’s stock worth $136,896,000 after buying an additional 59,101 shares in the last quarter. Mawer Investment Management Ltd. boosted its stake in Sprott by 74.0% during the third quarter. Mawer Investment Management Ltd. now owns 1,269,829 shares of the company’s stock worth $105,637,000 after buying an additional 539,940 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Sprott by 99.6% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 739,700 shares of the company’s stock worth $61,466,000 after buying an additional 369,100 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in Sprott by 98.0% during the third quarter. Arrowstreet Capital Limited Partnership now owns 488,978 shares of the company’s stock worth $40,660,000 after buying an additional 242,021 shares in the last quarter. Finally, Invesco Ltd. acquired a new stake in Sprott during the second quarter worth $28,948,000. Institutional investors and hedge funds own 28.30% of the company’s stock.

Sprott Stock Down 5.4%

Sprott stock opened at $128.91 on Friday. The stock has a 50-day simple moving average of $142.24 and a 200 day simple moving average of $120.05. Sprott Inc. has a 12-month low of $55.22 and a 12-month high of $169.63. The stock has a market capitalization of $3.32 billion, a price-to-earnings ratio of 39.42 and a beta of 0.78.

Sprott (NYSE:SII) last released its quarterly earnings results on Wednesday, May 6th. The company reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.20. Sprott had a return on equity of 23.54% and a net margin of 21.99%.The business had revenue of $80.75 million during the quarter, compared to analysts’ expectations of $78.06 million.

Sprott Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 3rd. Investors of record on Tuesday, May 19th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Tuesday, May 19th. Sprott’s payout ratio is currently 48.93%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. TD Securities reiterated a “hold” rating on shares of Sprott in a research note on Thursday, May 7th. Royal Bank Of Canada lifted their price objective on Sprott from $218.00 to $230.00 and gave the company an “outperform” rating in a report on Thursday, May 7th. Finally, Wall Street Zen raised Sprott from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $230.00.

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.