Sprott Inc (SII) shares soared 5.08% in Wednesday's intraday trading session, following the release of the company's robust full-year 2024 results that highlighted its favorable positioning in precious metals and critical materials investments despite a slight miss on Q4 earnings.
For the fourth quarter, the global asset manager reported earnings per share of $0.46, narrowly missing the FactSet consensus estimate of $0.48. Net revenue of $36.8 million also came in slightly below expectations of $38.3 million. However, the company delivered strong full-year results, with Assets Under Management (AUM) growing 10% to $31.5 billion, marking its seventh consecutive year of double-digit AUM growth.
The impressive AUM growth was driven by strong market value appreciation in Sprott's precious metals physical trusts and inflows into its exchange-listed products, particularly its critical materials ETFs. CEO Whitney George noted the company benefited from strong precious metals prices and $698 million in net sales, primarily in its physical trusts and uranium and critical materials ETFs.
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