Sprott Inc. $SII Shares Sold by Cibc World Market Inc.

Cibc World Market Inc. decreased its position in shares of Sprott Inc. (NYSE:SII) by 11.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 103,107 shares of the company’s stock after selling 13,003 shares during the quarter. Cibc World Market Inc. owned 0.40% of Sprott worth $10,100,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in SII. Royal Bank of Canada grew its stake in shares of Sprott by 29.1% during the 1st quarter. Royal Bank of Canada now owns 109,878 shares of the company’s stock worth $4,930,000 after purchasing an additional 24,763 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of Sprott by 7.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 59,917 shares of the company’s stock worth $2,688,000 after purchasing an additional 4,326 shares during the period. Invesco Ltd. acquired a new stake in shares of Sprott during the 2nd quarter worth approximately $28,948,000. Sei Investments Co. acquired a new stake in shares of Sprott during the 2nd quarter worth approximately $203,000. Finally, The Manufacturers Life Insurance Company grew its stake in shares of Sprott by 1.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 15,351 shares of the company’s stock worth $1,056,000 after purchasing an additional 225 shares during the period. Institutional investors and hedge funds own 28.30% of the company’s stock.

Sprott Stock Performance

Sprott stock opened at $122.69 on Friday. The company’s fifty day moving average price is $135.76 and its 200 day moving average price is $124.50. Sprott Inc. has a 1 year low of $61.42 and a 1 year high of $169.63. The stock has a market capitalization of $3.16 billion, a P/E ratio of 37.52 and a beta of 0.76.

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

Sprott Dividend Announcement

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. The ex-dividend date was Tuesday, May 19th. This represents a $1.60 dividend on an annualized basis and a yield of 1.3%. Sprott’s dividend payout ratio (DPR) is presently 48.93%.

Wall Street Analyst Weigh In

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