Ritholtz Wealth Management Boosts Stake in Sprott Inc. $SII

Ritholtz Wealth Management grew its holdings in Sprott Inc. (NYSE:SII) by 47.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 22,687 shares of the company’s stock after purchasing an additional 7,335 shares during the period. Ritholtz Wealth Management’s holdings in Sprott were worth $3,242,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Cumberland Partners Ltd raised its holdings in Sprott by 0.4% in the 4th quarter. Cumberland Partners Ltd now owns 32,300 shares of the company’s stock valued at $3,167,000 after buying an additional 120 shares during the period. Caitong International Asset Management Co. Ltd boosted its stake in Sprott by 63.8% during the fourth 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. Rialto Wealth Management LLC boosted its stake in Sprott by 26.0% during the fourth quarter. Rialto Wealth Management LLC now owns 800 shares of the company’s stock worth $78,000 after buying an additional 165 shares during the period. Kathmere Capital Management LLC increased its position in shares of Sprott by 5.3% during the fourth quarter. Kathmere Capital Management LLC now owns 3,458 shares of the company’s stock valued at $339,000 after acquiring an additional 174 shares during the last quarter. Finally, Mariner LLC increased its position in shares of Sprott by 2.8% during the fourth quarter. Mariner LLC now owns 6,950 shares of the company’s stock valued at $681,000 after acquiring an additional 192 shares during the last quarter. 28.30% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Sprott Price Performance

Shares of Sprott stock opened at $112.37 on Friday. The stock has a market capitalization of $2.90 billion, a price-to-earnings ratio of 34.36 and a beta of 0.76. The business has a 50-day moving average of $128.66 and a 200 day moving average of $127.66. Sprott Inc. has a 12 month low of $61.94 and a 12 month high of $169.63.

Sprott (NYSE:SII) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.20. The company had revenue of $80.75 million for the quarter, compared to analyst estimates 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. Investors 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 dividend yield of 1.4%. Sprott’s payout ratio is 48.93%.

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.