Jupiter Asset Management Ltd. Invests $711,000 in Sprott Inc. $SII

Jupiter Asset Management Ltd. bought a new position in Sprott Inc. (NYSE:SII) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 8,547 shares of the company’s stock, valued at approximately $711,000.

Other hedge funds have also modified their holdings of the company. Mawer Investment Management Ltd. boosted its holdings in shares of Sprott by 74.0% in the third quarter. Mawer Investment Management Ltd. now owns 1,269,829 shares of the company’s stock worth $105,637,000 after buying an additional 539,940 shares during the period. Ritholtz Wealth Management acquired a new stake in shares of Sprott during the third quarter valued at approximately $968,000. Quantbot Technologies LP purchased a new stake in shares of Sprott in the 2nd quarter valued at approximately $782,000. Intact Investment Management Inc. boosted its stake in Sprott by 81.3% in the 3rd quarter. Intact Investment Management Inc. now owns 48,600 shares of the company’s stock worth $4,040,000 after purchasing an additional 21,800 shares during the period. Finally, Horizon Kinetics Asset Management LLC boosted its stake in Sprott by 7.0% in the 2nd quarter. Horizon Kinetics Asset Management LLC now owns 212,898 shares of the company’s stock worth $14,709,000 after purchasing an additional 13,983 shares during the period. 28.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on SII shares. TD Securities reissued a “hold” rating on shares of Sprott in a research note on Friday. Wall Street Zen raised Sprott from a “hold” rating to a “buy” rating in a research report on Saturday. Royal Bank Of Canada raised Sprott from a “sector perform” rating to an “outperform” rating in a research note on Friday. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Sprott in a research note on Monday, December 29th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Sprott presently has a consensus rating of “Moderate Buy” and a consensus price target of $132.00.

Sprott Stock Up 10.3%

Sprott stock opened at $144.23 on Monday. Sprott Inc. has a 12 month low of $39.33 and a 12 month high of $144.36. The stock has a market cap of $3.72 billion, a P/E ratio of 55.47 and a beta of 1.02. The company’s fifty day simple moving average is $113.82 and its 200-day simple moving average is $91.47.

Sprott (NYSE:SII) last announced 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 business had revenue of $61.70 million during the quarter, compared to analyst estimates of $69.12 million. Sprott had a return on equity of 19.47% and a net margin of 23.62%.

Sprott Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 17th. Stockholders of record on Monday, March 2nd will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Monday, March 2nd. Sprott’s payout ratio is currently 82.05%.

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.