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.