Canada's Sprott Q3 net income jumps 67% on higher AUM
SII•SII•SII•SII•Sprott's third-quarter net income rose 67% year over year to $22.004 million, while assets under management reached $57.32 billion. The company raised its quarterly dividend 25% to $0.50.
Sprott reported third-quarter net income of $22.004 million, up 67% year over year. Net revenue and adjusted EBITDA also rose sharply year over year; adjusted EBITDA was $46.02 million, and assets under management were $57.32 billion, up 3% from the end of June.
The company said stronger precious metals and critical materials prices contributed to market value appreciation across most fund products. Positive net sales in critical materials strategies offset net redemptions in precious metals strategies, while higher average AUM contributed to increased management fees. Sprott raised its quarterly dividend 25% to $0.50 and provided no specific financial guidance for the current quarter or full year.
