Cibc World Market Inc. Boosts Holdings in Sprott Inc. $SII

Cibc World Market Inc. increased its position in shares of Sprott Inc. (NYSE:SII) by 46.3% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 116,110 shares of the company’s stock after buying an additional 36,720 shares during the quarter. Cibc World Market Inc. owned about 0.45% of Sprott worth $9,648,000 at the end of the most recent reporting period.

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

Sprott Trading Up 4.0%

Shares of NYSE SII opened at $123.00 on Friday. The stock has a market cap of $3.17 billion, a P/E ratio of 63.07 and a beta of 1.02. The business’s fifty day simple moving average is $110.33 and its 200-day simple moving average is $89.03. Sprott Inc. has a 12-month low of $39.33 and a 12-month high of $143.00.

Wall Street Analyst Weigh In

SII has been the subject of a number of research analyst reports. TD Securities reaffirmed a “hold” rating on shares of Sprott in a research report on Friday, January 23rd. Weiss Ratings restated a “buy (b-)” rating on shares of Sprott in a research report on Monday, December 29th. Finally, Royal Bank Of Canada assumed coverage on Sprott in a report on Wednesday, December 10th. They issued a “sector perform” rating and a $132.00 price objective on the stock. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $132.00.

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.