Sprott (NYSE:SII) Shares Gap Down – What’s Next?

Sprott Inc. (NYSE:SII)’s share price gapped down before the market opened on Monday . The stock had previously closed at $122.27, but opened at $116.17. Sprott shares last traded at $118.6690, with a volume of 14,930 shares trading hands.

Analyst Ratings Changes

Several research analysts have recently issued reports on SII shares. Weiss Ratings restated a “buy (b)” rating on shares of Sprott in a research note on Wednesday, May 20th. Wall Street Zen upgraded Sprott from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. TD Securities reiterated a “hold” rating on shares of Sprott in a report on Thursday, May 7th. Finally, Royal Bank Of Canada raised their price target on shares of Sprott from $218.00 to $230.00 and gave the stock 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 company. According to data from MarketBeat.com, Sprott presently has an average rating of “Moderate Buy” and an average target price of $230.00.

Sprott Trading Down 4.2%

The firm has a 50-day simple moving average of $132.13 and a two-hundred day simple moving average of $127.21. The company has a market capitalization of $3.02 billion, a price-to-earnings ratio of 35.77 and a beta of 0.76.

Sprott (NYSE:SII) last released its quarterly earnings data on Wednesday, May 6th. The company reported $1.13 earnings per share 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 analyst estimates of $78.06 million.

Sprott Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 3rd. Shareholders of record on Tuesday, May 19th were issued a $0.40 dividend. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $1.60 dividend on an annualized basis and a yield of 1.4%. Sprott’s payout ratio is presently 48.93%.

Institutional Investors Weigh In On Sprott

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Flagship Harbor Advisors LLC acquired a new position in shares of Sprott in the 4th quarter valued at $34,000. Caitong International Asset Management Co. Ltd grew its position in Sprott by 63.8% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 385 shares of the company’s stock valued at $38,000 after buying an additional 150 shares during the period. EverSource Wealth Advisors LLC increased its holdings in Sprott by 63.0% in the first quarter. EverSource Wealth Advisors LLC now owns 401 shares of the company’s stock valued at $57,000 after buying an additional 155 shares in the last quarter. Kohmann Bosshard Financial Services LLC purchased a new position in Sprott in the fourth quarter valued at $59,000. Finally, Rialto Wealth Management LLC raised its position in shares of Sprott by 26.0% in the fourth quarter. Rialto Wealth Management LLC now owns 800 shares of the company’s stock worth $78,000 after acquiring an additional 165 shares during the period. 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.