Capital Research Global Investors Decreases Position in Sprott Inc. $SII

Capital Research Global Investors reduced its stake in Sprott Inc. (NYSE:SII) by 25.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 527,162 shares of the company’s stock after selling 183,438 shares during the period. Capital Research Global Investors’ holdings in Sprott were worth $43,815,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Sprott during the 2nd quarter worth approximately $40,161,000. Mawer Investment Management Ltd. grew its position in shares of Sprott by 74.0% in the 3rd quarter. Mawer Investment Management Ltd. now owns 1,269,829 shares of the company’s stock valued at $105,637,000 after buying an additional 539,940 shares during the last quarter. Invesco Ltd. acquired a new stake in Sprott during the 2nd quarter worth $28,948,000. Hillsdale Investment Management Inc. acquired a new stake in Sprott during the 2nd quarter worth $28,299,000. Finally, Vanguard Group Inc. lifted its position in Sprott by 1,514.9% in the third quarter. Vanguard Group Inc. now owns 314,811 shares of the company’s stock valued at $26,165,000 after acquiring an additional 295,317 shares during the last quarter. Institutional investors and hedge funds own 28.30% of the company’s stock.

Sprott Price Performance

SII stock opened at $156.76 on Friday. The company has a fifty day moving average price of $131.61 and a 200 day moving average price of $100.44. Sprott Inc. has a 12 month low of $39.33 and a 12 month high of $169.63. The company has a market cap of $4.04 billion, a price-to-earnings ratio of 60.29 and a beta of 0.94.

Sprott (NYSE:SII) last issued its quarterly earnings data on Thursday, February 19th. The company reported $1.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.58. The company had revenue of $61.70 million for the quarter, compared to the consensus estimate of $69.12 million. Sprott had a net margin of 23.62% and a return on equity of 19.47%.

Sprott Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 17th. Investors of record on Monday, March 2nd will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.0%. Sprott’s dividend payout ratio (DPR) is currently 61.54%.

Analysts Set New Price Targets

SII has been the subject of several research analyst reports. Wall Street Zen upgraded shares of Sprott from a “hold” rating to a “buy” rating in a research note on Saturday, February 21st. TD Securities reiterated a “hold” rating on shares of Sprott in a research report on Friday, February 20th. Royal Bank Of Canada raised Sprott from a “sector perform” rating to an “outperform” rating in a report on Friday, February 20th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Sprott in a research report on Monday, December 29th. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $132.00.

About Sprott

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.