Cannell & Spears LLC Decreases Stock Position in Sprott Inc. $SII

Cannell & Spears LLC decreased its position in Sprott Inc. (NYSE:SII) by 23.2% in the 1st quarter, Holdings Channel reports. The fund owned 68,074 shares of the company’s stock after selling 20,570 shares during the period. Cannell & Spears LLC’s holdings in Sprott were worth $9,728,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in SII. Flagship Harbor Advisors LLC purchased a new position in shares of Sprott in the fourth quarter valued at $34,000. Caitong International Asset Management Co. Ltd increased its stake in Sprott by 63.8% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 385 shares of the company’s stock worth $38,000 after buying an additional 150 shares during the period. Kohmann Bosshard Financial Services LLC acquired a new position in Sprott in the 4th quarter worth $59,000. Advisory Services Network LLC purchased a new position in Sprott in the 3rd quarter valued at about $74,000. Finally, CENTRAL TRUST Co acquired a new stake in shares of Sprott during the first quarter valued at about $184,000. 28.30% of the stock is owned by institutional investors and hedge funds.

Sprott Stock Down 2.5%

SII opened at $103.02 on Friday. The company’s 50-day moving average price is $117.63 and its 200 day moving average price is $129.39. Sprott Inc. has a fifty-two week low of $61.94 and a fifty-two week high of $169.63. The firm has a market cap of $2.65 billion, a price-to-earnings ratio of 31.50 and a beta of 0.81.

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

Sprott Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. TD Securities reiterated a “hold” rating on shares of Sprott in a research note on Thursday, May 7th. Weiss Ratings restated a “buy (b)” rating on shares of Sprott in a report on Wednesday, May 20th. Wall Street Zen raised Sprott from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Finally, 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 note on Thursday, May 7th. Two investment 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 has a consensus rating of “Moderate Buy” and a consensus target price of $230.00.

Sprott 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.