Sprott (SII.TO) traded 0.9% lower at last look Wednesday in NYSE pre-market trading as the company booked earnings in the fourth quarter of 2024 that fell short of analysts' expectations.
The company reported net income of $11.7 million, or $0.46 per share, below the FactSet analyst consensus forecast of $0.69, but 21% higher than the $9.7 million, or $0.38 per share, in the year-ago quarter.
Sprott's assets under management stood at $31.5 billion as of Dec. 31, 2024, down 6% from $33.4 billion as of Sept. 30, 2024 but a 10% increase from $28.7 billion as of Dec. 31, 2023.
Adjusted base EBITDA was $22.4 million, or $0.88 per share, up 19% from $18.8 million, or $0.75 per share.
Sprott said its earnings benefitted from higher average assets under management on strong market value appreciation in its precious metals physical trusts and inflows to the majority of its exchange listed products.
The company also cited the carried interest and performance fee crystallization in certain funds in its managed equities and private strategies segments.
"The recent turmoil in precious metals markets has highlighted the importance of physical ownership, an area where Sprott offers best-in-class solutions to individual and institutional investors, " CEO Whitney George said. "Sprott is well positioned to create value for our clients and shareholders in the months and years ahead."
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