Sprott Inc. (NYSE:SII) Sees Large Decline in Short Interest

Sprott Inc. (NYSE:SII) was the recipient 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. Based on an average daily volume of 101,087 shares, the short-interest ratio is currently 3.3 days. Approximately 1.6% of the shares of the company are sold short.

Hedge Funds Weigh In On Sprott

A number of hedge funds have recently made changes to their positions in the business. Corient Private Wealth LP grew its holdings in Sprott by 3.1% during the 2nd quarter. Corient Private Wealth LP now owns 3,938 shares of the company’s stock valued at $442,000 after buying an additional 120 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in Sprott by 63.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 401 shares of the company’s stock valued at $57,000 after acquiring an additional 155 shares during the last quarter. Archer Investment Corp bought a new stake in Sprott in the 2nd quarter valued at $25,000. Lazard Asset Management LLC increased its holdings in Sprott by 1.1% in the 1st quarter. Lazard Asset Management LLC now owns 23,764 shares of the company’s stock valued at $3,392,000 after acquiring an additional 258 shares during the last quarter. Finally, Aristides Capital LLC increased its holdings in Sprott by 4.7% in the 4th quarter. Aristides Capital LLC now owns 6,273 shares of the company’s stock valued at $614,000 after acquiring an additional 280 shares during the last quarter. Institutional investors own 28.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on SII. Weiss Ratings raised shares of Sprott from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, October 8th. TD Securities restated a “hold” rating on shares of Sprott in a research report on Thursday, August 6th. Finally, Wall Street Zen cut shares of Sprott from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Two 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, the company has an average rating of “Moderate Buy” and an average price target of $230.00.

Sprott Price Performance

SII opened at $107.75 on Friday. The company has a 50 day simple moving average of $123.72 and a two-hundred day simple moving average of $124.09. The firm has a market cap of $2.77 billion, a P/E ratio of 26.41 and a beta of 0.95. Sprott has a 1-year low of $78.79 and a 1-year high of $169.63.

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

Sprott Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Monday, August 17th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.5%. The ex-dividend date was Monday, August 17th. Sprott’s payout ratio is presently 39.22%.

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.