- Precious metals investment firm Sprott Inc (SII) has dropped another impressive quarterly report, as investors continue to flock to gold and silver
- Net revenue over the quarter jumped 82 per cent to $31.3 million, compared to last year’s same quarter.
- The higher revenue and strong gold price resulted in quarterly net income doubling to C$8.7 million
- The company’s recent operations have benefited from surging precious metals prices under COVID-19 and the resulting influx of investors to the relative safety of gold and silver
- Sprott Inc is up 3.42 per cent and is trading at $39.93 per share
Precious metals investment firm Sprott Inc (SII) has dropped another impressive quarterly report, as investors continue to flock to gold and silver.
Net revenue over the quarter jumped 82 per cent to $31.3 million, compared to last year’s same quarter. The higher revenue and strong gold price resulted in quarterly net income doubling to C$8.7 million.
The compelling quarterly metrics follow an already impressive year-to-date for the company, which has benefited from precious metals prices surging under COVID-19 and an influx of investors flocking to the relative safety of gold and silver.
Consequently, the company’s assets under management have increased by 76 per cent in over the course of this year. Sprott’s share price has similarly reflected the improving macroenvironment, leaping up 100 per cent since bottoming out at the onset of the COVID-19 recession.
Volatility swings both way, however, and the company’s shares have recently begun adjusting down after reaching a height of $55 in September, to now be valued at around $40. Nevertheless, today’s impressive quarterly seems to have halted this downward trend – at least for now.
As a result of its robust financial performance, Sprott’s board of directors has approved a 8.7 per cent increase of the quarterly dividend to U$$0.25 per share.
Peter Grosskopf, CEO of Sprott said he’s confident that our business will support this dividend level without impacting our ability to fund future growth initiatives.
Following this year’s stellar showing, Sprott was also added to the S&P/TSX Composite Index and was ranked among the 30 top-performing TSX stocks over a three-year period.
Sprott Inc is up 3.42 per cent and is trading at $39.93 per share at 11:51pm EST.