Home / Business and Economy / Sprott Reports Record Quarter: Uranium, Dividends Climb
Sprott Reports Record Quarter: Uranium, Dividends Climb
5 Nov
Summary
- Uranium assets under management reached $10 billion.
- Company increased its quarterly dividend by 25%.
- Net income rose 67% to $22 million for the quarter.
Sprott Inc. announced a robust third quarter performance, with average assets under management increasing by 39% compared to the previous year. This growth supported a significant 67% rise in net income, reaching $22 million, and allowed for a 25% increase in the quarterly dividend. The company benefited from operational leverage as revenues grew faster than expenses.
Critical materials strategies, particularly uranium and copper, showed steady demand due to supply deficits, with uranium assets under management hitting $10 billion. Precious metals experienced volatility due to rising yields and liquidity-driven selling, impacting silver significantly due to Indian import restrictions. Physical gold trusts, however, saw positive net flows.
Financially, Sprott reported Adjusted EBITDA of $46 million, up 44% year-over-year. The company maintained a strong balance sheet with $200 million in cash and no debt, while continuing share buybacks and reinvesting in business growth.
