-- Sprott (SII.TO), up 6.5% in New York trade on last look, said on Wednesday that first quarter net income more than doubled.
Net income rose to US$29.2 million, or US$1.13 per share, from US$12 million, or US$0.46 per share, in the prior year period. The higher earnings was mainly due to higher average assets under management (AUM) in its exchange listed products and managed equities segments as well as carried interest crystallization in its private strategies segment. These increases were partially offset by higher stock-based compensation expense as Sprott's stock price appreciated 46% in the quarter, versus 6% in the first quarter of last year.
Net fees nearly tripled to US$93.8 million for the quarter, from US$35.9 million in the previous corresponding quarter.
AUM rose 9% to US$65.1 billion as at March 31, from US$59.6 billion as at Dec. 31, 2025, the company reported.
The company will pay a quarterly dividend of US$0.40 per share on June 3, to shareholders of record at on May 19.
Sprott shares were last seen up US$8.23, to US$135.00, in U.S. pre-market trading.