Jacobs Asset Management LLC Sells 5,440 Shares of Sprott Inc. $SII

Jacobs Asset Management LLC reduced its position in shares of Sprott Inc. (NYSE:SII) by 3.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 160,027 shares of the company’s stock after selling 5,440 shares during the quarter. Sprott accounts for approximately 13.7% of Jacobs Asset Management LLC’s investment portfolio, making the stock its biggest holding. Jacobs Asset Management LLC’s holdings in Sprott were worth $22,868,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in SII. Bradley Foster & Sargent Inc. CT acquired a new position in shares of Sprott during the 1st quarter worth about $244,000. Cumberland Partners Ltd lifted its stake in Sprott by 12.1% in the 1st quarter. Cumberland Partners Ltd now owns 36,200 shares of the company’s stock valued at $5,150,000 after purchasing an additional 3,900 shares during the last quarter. Renaissance Technologies LLC grew its holdings in Sprott by 23.8% during the first quarter. Renaissance Technologies LLC now owns 101,600 shares of the company’s stock worth $14,519,000 after purchasing an additional 19,500 shares during the period. Gamco Investors INC. ET AL bought a new position in Sprott during the first quarter worth about $443,000. Finally, Aristides Capital LLC increased its position in Sprott by 11.8% during the first quarter. Aristides Capital LLC now owns 7,014 shares of the company’s stock worth $1,002,000 after buying an additional 741 shares during the last quarter. Institutional investors and hedge funds own 28.30% of the company’s stock.

Sprott Stock Down 2.5%

Shares of NYSE:SII opened at $103.02 on Friday. Sprott Inc. has a 12-month low of $61.94 and a 12-month high of $169.63. The stock has a market cap of $2.65 billion, a PE ratio of 31.50 and a beta of 0.81. The business has a 50 day moving average of $117.63 and a 200-day moving average of $129.39.

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

Sprott Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 3rd. Shareholders of record on Tuesday, May 19th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend was Tuesday, May 19th. Sprott’s dividend payout ratio is currently 48.93%.

Analyst Ratings Changes

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