Sprott Inc. (NYSE:SII) Sees Significant Drop in Short Interest

Sprott Inc. (NYSE:SII) was the target of a large decrease in short interest in the month of September. As of September 30th, there was short interest totaling 329,448 shares, a decrease of 35.6% from the September 15th total of 511,248 shares. Approximately 1.6% of the shares of the stock are short sold. Based on an average daily trading volume, of 101,087 shares, the days-to-cover ratio is currently 3.3 days.

Sprott Stock Up 2.1%

SII stock opened at $112.89 on Friday. The stock has a market capitalization of $2.90 billion, a P/E ratio of 27.67 and a beta of 0.95. The firm has a 50-day simple moving average of $123.92 and a 200-day simple moving average of $124.20. Sprott has a 52 week low of $78.79 and a 52 week high of $169.63.

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

Sprott Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, August 17th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.4%. Sprott’s dividend payout ratio is presently 39.22%.

Hedge Funds Weigh In On Sprott

Hedge funds and other institutional investors have recently made changes to their positions in the company. Copeland Capital Management LLC boosted its stake in shares of Sprott by 255,707.1% in the third quarter. Copeland Capital Management LLC now owns 286,504 shares of the company’s stock worth $34,203,000 after acquiring an additional 286,392 shares during the last quarter. B. Riley Wealth Advisors Inc. acquired a new position in Sprott in the 3rd quarter valued at $636,000. Baird Financial Group Inc. raised its stake in Sprott by 2.0% in the 2nd quarter. Baird Financial Group Inc. now owns 97,614 shares of the company’s stock valued at $10,967,000 after purchasing an additional 1,952 shares during the last quarter. Arcus Capital Partners LLC raised its stake in Sprott by 15.4% in the 2nd quarter. Arcus Capital Partners LLC now owns 3,230 shares of the company’s stock valued at $363,000 after purchasing an additional 430 shares during the last quarter. Finally, Nykredit A S purchased a new position in Sprott in the 2nd quarter valued at $169,000. Hedge funds and other institutional investors own 28.30% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on SII. Weiss Ratings upgraded Sprott from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. Wall Street Zen lowered shares of Sprott from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Finally, TD Securities reissued a “hold” rating on shares of Sprott in a report on Thursday, August 6th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $230.00.

Sprott Company Profile

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.