viewSprott Asset Management

Sprott reports higher Q2 profit, but lower commission revenue, management fees

Sprott Inc.'s commission revenues dropped 41 percent to C$1.5 million in the second quarter year-over-year.

Sprott Inc. (TSE:SII) fell in morning trading after the Canada-based asset management company reported lower commission revenue and management fees in the second quarter, hurt by continued weakness in natural resources.

Shares fell 0.9 percent to C$2.17 at 9:45 a.m. in Toronto. The stock has lost 11 percent so far this year.

Net income rose 34.2 percent to C$6.7 million, or C$0.03 per share, in the April-to-June quarter, compared to the year-earlier period, the Toronto, Ontario-based company said in a statement today.

That topped the C$0.02 average estimate of 6 analysts surveyed by Capital IQ.

Assets Under Management (AUM) were C$7.8 billion as at June 30, 2015, similar to C$7.8 billion as at June 30, 2014 and March 31, 2015.

Commission revenues dropped 41 percent to C$1.5 million year-over-year.

Management fees decreased 3.1 percent to C$19.5 million.

On August 11, the company declared a dividend of C$0.03 per common share for the second quarter, unchanged from the dividend paid in the first quarter.  The dividend is payable on September 4 to shareholders of record at the close of business on August 20.

The company operates through five segments: Sprott Asset Management LP (SAM), Global Companies, Sprott Resource Lending Corp. (SRLC), Consulting, and Corporate & Other.

Quick facts: Sprott Asset Management

Price: 36.97 CAD

Market: TSX
Market Cap: $905.76 m

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