Sprott’s third-quarter earnings beat the calendar estimate, and higher average assets under management lifted management fees. But redemptions from precious-metals strategies and lower performance fees show that the headline result is only part of the picture.
Sprott Inc. (TSX: SII) reported results for the third quarter of 2026, which ended September 30. Calendar EPS was C$1.81, compared with an estimate of C$1.45, a 24.8% positive surprise. In its November 4 release, the company reported net income of US$22 million, or US$0.86 per share, and revenue of US$75.1 million. These figures use different reporting measures and aren’t directly comparable. Results reflected a larger average asset base and higher management fees, alongside net redemptions in precious-metals strategies and a sharp year-over-year drop in quarterly performance fees.
Recent earnings trend
Sprott Inc.
SII.TO
SII.TO
Sprott Inc.
WealthAwesomeMarket cap
$4.05B
P/E
27.9x
52W high
$228.93
52W low
$112.72
1W change
+4.20%
Beta
1.51
Analyst Price Targets
Based on analyst covering SII · as of Oct 15, 2026
Wall Street analysts forecast SII stock price to rise 23.8% over the next 12 months.
Consensus
BullishBased on avg. target vs last close (formal rating unavailable for Canadian listings)
Avg. Target
C$195.00
+23.8% Upside
Previously C$194.50 on Oct 14, 2026
Current Price
C$157.46
Last close
Targets are snapshotted when they change. Unchanged figures keep their original date. Not financial advice.
Wealth Awesome Price Forecast
WA ModelStatistical 90-day price range based on SII's historical volatility
30-Day Vol
40.8%
Annualized
90-Day Vol
44.3%
Annualized
Trend (90d)
-8.5%
Annualized drift
90d Mean
C$152.77
Expected price
| Horizon | Expected | 68% Range (1σ) |
|---|---|---|
| 30 trading days | C$155.88 | C$135.41 – C$179.45 |
| 60 trading days | C$154.32 | C$126.46 – C$188.31 |
| 90 trading days | C$152.77 | C$119.71 – C$194.95 |
Methodology: Range is calculated using 30-day realized volatility via geometric Brownian motion (log-normal model). 68% band = ±1σ, 95% band = ±2σ. This is a statistical model, not a prediction. Past volatility does not guarantee future results. Not financial advice.
Analyst coverage: 2 analyst(s) cover this name; upcoming EPS consensus is available.
Beat estimates in 2 of the last 4 comparable quarter(s).
| Fiscal period | Report date | Actual EPS | Estimate | Surprise |
|---|---|---|---|---|
| 2026-09-30 | 2026-11-03 | 1.8100 | 1.4500 | +24.8% |
| 2026-06-30 | 2026-08-03 | 1.8100 | 1.8700 | -3.2% |
| 2026-03-31 | 2026-05-06 | 0.8200 | 1.2800 | -35.9% |
| 2025-12-31 | 2026-02-19 | 1.4000 | 0.9900 | +41.4% |
| 2025-09-30 | 2025-11-05 | 1.2900 | 0.9100 | +41.8% |
| 2025-06-30 | 2025-08-06 | 1.4500 | 0.7600 | +90.8% |
Investor takeaway: Calendar EPS beat estimates, and management fees grew 40% year over year as average AUM increased. But that growth remains tied to market values and investor flows. Precious-metals strategies saw net redemptions, while critical-materials strategies had positive net sales. Sprott also approved a 25% increase in its quarterly dividend, to US$0.50 per share. Canadian holders receiving the payment through CDS will be paid in Canadian dollars, using the exchange rate on the payment date. See the SII.TO stock page for more information alongside the results.
C$1.81 calendar EPS versus C$1.45 estimated
That’s a 24.8% positive surprise. The company separately reported US$22 million in net income, or US$0.86 per share, and US$75.1 million in revenue. Management fees rose 40% year over year to US$70.8 million, supported by average AUM of US$58.8 billion, up 39%. The recent-earnings trend table shows the quarter-by-quarter comparison. Sprott beat estimates in two of the last four comparable quarters.
Bull case
Average AUM rose 39% year over year to US$58.8 billion, helping management fees climb 40% to US$70.8 million. Sprott also reported positive net sales in critical-materials strategies and raised its quarterly dividend by 25%. If average assets stay high and sales extend beyond critical materials, management-fee revenue could keep growing.
Bear case
Sprott’s fees depend on market movements and investor flows. AUM was down 4% from December 31, 2025, and precious-metals strategies saw net redemptions. Quarterly carried interest and performance fees fell 95% year over year to US$0.1 million. At the supplied last close, the share price was below its 50- and 200-day moving averages. The next-quarter EPS consensus had also edged down over the previous 30 days.
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