Bank of Montreal Can Buys 26,363 Shares of Sprott Inc. $SII

Bank of Montreal Can raised its stake in shares of Sprott Inc. (NYSE:SII) by 33.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 104,434 shares of the company’s stock after purchasing an additional 26,363 shares during the quarter. Bank of Montreal Can’s holdings in Sprott were worth $7,224,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Tacita Capital Inc bought a new position in shares of Sprott in the 1st quarter worth $35,000. Ameritas Advisory Services LLC purchased a new position in Sprott in the second quarter worth $74,000. Stonehage Fleming Financial Services Holdings Ltd increased its stake in Sprott by 34.1% in the second quarter. Stonehage Fleming Financial Services Holdings Ltd now owns 1,599 shares of the company’s stock valued at $110,000 after acquiring an additional 407 shares during the last quarter. Kathmere Capital Management LLC bought a new position in Sprott in the second quarter valued at $211,000. Finally, Fidelis Capital Partners LLC purchased a new stake in Sprott during the first quarter valued at about $247,000. Hedge funds and other institutional investors own 28.30% of the company’s stock.

Sprott Trading Up 7.2%

SII opened at $90.21 on Monday. Sprott Inc. has a 12 month low of $39.33 and a 12 month high of $90.46. The business’s 50-day moving average price is $78.84 and its 200-day moving average price is $68.85. The company has a market cap of $2.33 billion, a P/E ratio of 46.26 and a beta of 0.95.

Sprott (NYSE:SII) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.06. The business had revenue of $49.18 million for the quarter, compared to analyst estimates of $49.71 million. Sprott had a return on equity of 15.01% and a net margin of 23.26%.

Sprott Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 2nd. Stockholders of record on Monday, November 17th will be issued a $0.40 dividend. This is a positive change from Sprott’s previous quarterly dividend of $0.30. This represents a $1.60 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Monday, November 17th. Sprott’s dividend payout ratio (DPR) is 61.54%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on SII. Weiss Ratings reiterated a “buy (b)” rating on shares of Sprott in a report on Wednesday, October 8th. TD Securities lowered Sprott from a “buy” rating to a “hold” rating in a research note on Tuesday, July 22nd. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy”.

Sprott Profile

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.