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Sprott
(TSX:SII)
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Rating:79Outperform
Price Target:
C$162.00
â–¼(-14.70% Downside)
Action:Reiterated
Date:08/10/26
The score is driven primarily by strong financial performance (high profitability, debt-free balance sheet, and high-quality cash flow). Offsetting factors are a mixed technical picture (negative MACD and price below the 100DMA) and a relatively rich valuation (P/E ~28.9 with a ~1.26% yield). Earnings call commentary was supportive on margins and product traction, but highlighted near-term AUM sensitivity to precious-metals market swings and outflows.
Positive Factors
High Profitability
Strong net and operating margins indicate that Sprott converts its asset-management platform into substantial earnings. If product demand and AUM remain supportive, this profitability provides resources for reinvestment, product development, shareholder returns, and resilience through normal market cycles.
Negative Factors
AUM and Redemption Pressure
Because management fees depend heavily on client assets, substantial AUM declines can reduce recurring revenue even when operating execution remains strong. Continued redemptions in physical trusts would weaken fee capacity and make near-term earnings more exposed to investor flows.
Read all positive and negative factors
Positive Factors
Negative Factors
High Profitability
Strong net and operating margins indicate that Sprott converts its asset-management platform into substantial earnings. If product demand and AUM remain supportive, this profitability provides resources for reinvestment, product development, shareholder returns, and resilience through normal market cycles.
Read all positive factors
Sprott (SII) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$3.65B
Dividend Yield1.56%
Average Volume (3M)39.85K
Price to Earnings (P/E)24.9
Beta (1Y)1.66
Revenue Growth102.07%
EPS Growth109.00%
CountryCA
Employees131
SectorFinancial
Sector Strength70
IndustryAsset Management
Share Statistics
EPS (TTM)4.08
Shares Outstanding25,732,677
10 Day Avg. Volume36,569
30 Day Avg. Volume39,852
Financial Highlights & Ratios
PEG Ratio1.36
Price to Book (P/B)9.46
Price to Sales (P/S)11.75
P/FCF Ratio36.19
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
C$191.00Price Target Upside0.57% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering5
EPS Forecast (FY)4.56
Revenue Forecast (FY)C$373.60M
Sprott Business Overview & Revenue Model
Company Description
Sprott Inc. is a publicly owned asset management holding company. Through its subsidiaries, the firm provides asset management, portfolio management, wealth management, fund management, and administrative and consulting services to its clients. It...
How the Company Makes Money
Sprott primarily makes money by earning fees for managing client assets and administering investment products. A major revenue stream is management fees from its exchange-listed physical commodity trusts and other investment vehicles; these fees a...
Sprott Earnings Call Summary
Earnings Call Date:Aug 05, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 04, 2026
Earnings Call Sentiment Positive
Despite a sharp, market-driven pullback in precious metals that caused meaningful AUM declines and redemptions in physical trusts, the company showed strong underlying financial momentum: substantial year‑over‑year average AUM growth, rising net income and adjusted EBITDA, widening margins, debt-free liquidity and rapid scaling of new ETF products (notably REXC). Critical materials and uranium were clear bright spots. Given the balance of durable operational and profitability gains against cyclical market headwinds, management frames the metals weakness as short-term and retains confidence in long-term secular demand.Positive Updates
Strong Year-over-Year Average AUM Growth
Average AUM for the quarter was $63.9 billion, up $26.3 billion or 70% versus $37.6 billion a year ago; year-to-date average AUM was $66.6 billion, up $31.2 billion or 88% versus $35.4 billion a year ago.
Negative Updates
Significant Precious Metals Price Correction
Sprott gold declined 14.1% and silver fell 22% in the quarter, driven by commodity, currency and interest rate volatility and tighter global liquidity; this materially pressured related product valuations.
Read all updates
Q2-2026 Updates
Positive
Negative
Strong Year-over-Year Average AUM Growth
Average AUM for the quarter was $63.9 billion, up $26.3 billion or 70% versus $37.6 billion a year ago; year-to-date average AUM was $66.6 billion, up $31.2 billion or 88% versus $35.4 billion a year ago.
Read all positive updates
Company Guidance
Management provided limited numeric forward guidance but outlined expectations and targets: they expect to close the fourth private lending fund in 2027 and continue opportunistic NCIB buybacks (more aggressive at lower prices); current AUM is $55.6B (down $9.5B Q/Q and 15% from $65.1B), average AUM was $63.9B for the quarter (up 70% YoY) and $66.6B YTD (up 88% YoY), with $0.4B net redemptions in Q2 and an $8.2B (16%) drop in physical trusts; ETF AUM fell ~10% while new ETF REXC hit $50M in 32 trading days (many funds breakeven near $25M); Q2 net income was $34.3M ($63.5M YTD), adjusted EBITDA was $50.8M for the quarter and $108.7M YTD with adjusted EBITDA margins expanding from 53% to 71%; Private Strategies AUM is $2B, the firm is debt-free with strong liquidity, and management expects secular upside for critical materials and further scaling benefits to drive profitability.Sprott Financial Statement Overview
Summary
Income Statement
86
Very Positive
Balance Sheet
92
Very Positive
Cash Flow
88
Very Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 394.78M | 295.12M | 168.35M | 146.30M | 154.27M | 164.94M |
| Gross Profit | 303.51M | 269.82M | 80.82M | 64.17M | 66.62M | 78.48M |
| EBITDA | 147.72M | 95.66M | 74.32M | 57.19M | 31.36M | 50.90M |
| Net Income | 105.32M | 68.52M | 49.29M | 41.80M | 17.63M | 33.19M |
Balance Sheet | ||||||
| Total Assets | 515.76M | 524.82M | 388.80M | 378.83M | 383.75M | 365.87M |
| Cash, Cash Equivalents and Short-Term Investments | 190.50M | 123.86M | 47.06M | 22.89M | 55.03M | 55.94M |
| Total Debt | 0.00 | 1.49M | 0.00 | 24.24M | 54.44M | 29.77M |
| Total Liabilities | 123.58M | 158.25M | 65.15M | 73.13M | 106.48M | 74.65M |
| Stockholders Equity | 392.18M | 366.58M | 323.65M | 305.70M | 277.27M | 291.22M |
Cash Flow | ||||||
| Free Cash Flow | 139.59M | 95.84M | 67.28M | 28.33M | 32.37M | 50.55M |
| Operating Cash Flow | 141.65M | 97.69M | 69.15M | 29.86M | 32.50M | 51.25M |
| Investing Cash Flow | 25.16M | 9.32M | 24.52M | 4.61M | -23.49M | -20.63M |
| Financing Cash Flow | -47.48M | -33.26M | -57.17M | -63.46M | -3.90M | -24.19M |
Sprott Technical Analysis
Negative
189.92
Price Trends
169.58
Negative
163.96
Negative
175.26
Negative
Market Momentum
-6.45
Positive
28.32
Positive
37.80
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:SII, the sentiment is Negative. The current price of 189.92 is above the 20-day moving average (MA) of 155.77, above the 50-day MA of 169.58, and above the 200-day MA of 175.26, indicating a bearish trend. The MACD of -6.45 indicates Positive momentum. The RSI at 28.32 is Positive, neither overbought nor oversold. The STOCH value of 37.80 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:SII.
Sprott Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
79 Outperform | C$3.65B | 24.85 | 28.39% | 1.56% | 102.07% | 109.00% | |
78 Outperform | C$110.53B | 28.07 | 34.28% | 3.98% | 129.18% | 15.58% | |
74 Outperform | C$8.01B | 11.21 | 5.25% | 0.38% | 1.85% | -9.67% | |
73 Outperform | C$18.85B | 16.53 | 12.91% | 2.95% | 19.92% | 20.90% | |
73 Outperform | C$931.71M | 6.69 | 11.46% | 3.62% | 12.19% | 26.48% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
54 Neutral | C$298.73M | 15.39 | 7.95% | 15.32% | -1.48% | -47.10% |
* Financial Sector Average
TSE:SII
Sprott
141.67
28.06
24.70%
TSE:IGM
IGM Financial
82.15
29.28
55.38%
TSE:AGF.B
AGF Management B NV
14.65
1.00
7.31%
TSE:FSZ
Fiera Capital A
2.82
-3.03
-51.75%
TSE:ONEX
ONEX Corporation
104.94
-14.69
-12.28%
TSE:BAM
Brookfield Asset Management Ltd. Class A
67.47
-6.06
-8.25%
Sprott Corporate Events
Business Operations and StrategyFinancial Disclosures
Sprott Sets November 4 Date for 2026 Q3 Results and Earnings Webcast
Positive
Oct 30, 2026
Sprott Inc. said it will release its 2026 third-quarter results on November 4, 2026, at 7:00 a.m. ET and will hold an earnings webcast at 10:00 a.m. ET the same day, led by CEO Whitney George, CFO and Co-COO Kevin Hibbert and Sprott Asset Manageme...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.