Jacobs Asset Management LLC Reduces Holdings in Sprott Inc. $SII

Jacobs Asset Management LLC cut its position in Sprott Inc. (NYSE:SII) by 17.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 165,467 shares of the company’s stock after selling 34,533 shares during the quarter. Sprott comprises about 9.0% of Jacobs Asset Management LLC’s holdings, making the stock its largest position. Jacobs Asset Management LLC’s holdings in Sprott were worth $16,203,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in SII. Capital Research Global Investors raised its stake in shares of Sprott by 88.1% in the fourth quarter. Capital Research Global Investors now owns 991,339 shares of the company’s stock valued at $97,101,000 after buying an additional 464,177 shares during the period. Invesco Ltd. bought a new stake in shares of Sprott in the second quarter valued at $28,948,000. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Sprott by 99.6% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 739,700 shares of the company’s stock valued at $61,466,000 after buying an additional 369,100 shares during the period. Vanguard Group Inc. raised its stake in shares of 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 buying an additional 295,317 shares during the period. Finally, Mawer Investment Management Ltd. raised its stake in shares of Sprott by 19.3% in the fourth quarter. Mawer Investment Management Ltd. now owns 1,515,002 shares of the company’s stock valued at $148,349,000 after buying an additional 245,173 shares during the period. 28.30% of the stock is currently owned by institutional investors.

Sprott Stock Up 2.5%

Sprott stock opened at $118.69 on Friday. Sprott Inc. has a 52 week low of $61.94 and a 52 week high of $169.63. The business has a 50-day simple moving average of $133.66 and a 200 day simple moving average of $125.65. The stock has a market cap of $3.06 billion, a price-to-earnings ratio of 36.30 and a beta of 0.76.

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

Sprott Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 3rd. Stockholders of record on Tuesday, May 19th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date was Tuesday, May 19th. Sprott’s dividend payout ratio is presently 48.93%.

Wall Street Analysts Forecast Growth

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