Sprott Inc ( (SII) ) has released its Q3 earnings. Here is a breakdown of the information Sprott Inc presented to its investors.
Sprott Inc. is a global asset manager specializing in precious metals and critical materials investments, with a focus on providing specialized knowledge and strategies through exchange-listed products, managed equities, and private strategies. The company recently announced its third-quarter financial results for 2024, showcasing a record high in Assets Under Management (AUM) and a significant rise in management fees, driven by increased market value appreciation of its precious metals physical trusts and continuous inflows into its products. The company reported an 87% increase in net income from the same quarter last year, reaching $12.7 million, while its adjusted base EBITDA saw a 16% rise compared to the previous year. Sprott’s AUM reached $33.4 billion as of September 30, 2024, marking an 8% increase from the previous quarter and a 16% rise from the end of 2023. This growth was fueled by strong gold and silver prices and net sales, along with the launch of new products like the Physical Copper Trust. The company also enjoyed a boost in management and performance fees, contributing to its improved financial performance. Looking ahead, Sprott’s management remains optimistic about navigating market volatility with its strong positioning in precious metals and critical materials, aiming to continue creating value for clients and shareholders while maintaining a debt-free balance sheet.
