In This Article:
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Assets Under Management (AUM): Increased by $2.8 billion during 2024 to $31.5 billion as of December 31, 2024. Year-to-date in 2025, AUM increased by $2 billion to $33.5 billion.
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Net Income: $11.7 million for the fourth quarter, up 21% from $9.7 million in the same period last year. Full-year net income was $49.3 million, up 18% from $41.8 million last year.
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Adjusted Base EBITDA: $22.4 million for the quarter, up 19% from $18.8 million last year. Full-year adjusted base EBITDA was $85.2 million, up 18% from $71.9 million last year.
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Dividend Increase: Quarterly dividend increased by 20% in November.
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Net Flows: $126 million in net flows in Q4 and $957 million for the full year, including proceeds from the Sprott Physical Copper Trust IPO.
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Managed Equity Strategies: Flagship gold equity fund posted a full-year gain of 20.6% despite a 9.3% decline in Q4.
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Private Strategies AUM: $2.3 billion as of December 31, 2024.
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New ETFs Launched: Two new ETFs in 2025, including Sprott Silver Miners and Physical Silver ETF (SLVR) and Sprott Active Gold and Silver Miners ETF (GBUG).
Release Date: February 26, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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Sprott Inc (NYSE:SII) achieved its seventh consecutive year of double-digit AUM growth, with a 10% increase from the previous year.
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The company reported a significant increase in net income, up 21% for the quarter and 18% for the full year.
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Sprott Inc (NYSE:SII) launched two new ETFs and one physical trust, expanding its critical materials offerings.
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The company became debt-free in the fourth quarter and increased its quarterly dividend by 20%.
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Sprott Inc (NYSE:SII) experienced strong AUM growth driven by rising precious metal prices and net sales in exchange-listed products.
Negative Points
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The fourth quarter saw a pullback in AUM due to market value depreciation and termination of certain sub-advised fund contracts.
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There were $182 million in net redemptions in the fourth quarter and $349 million for the full year in managed equity strategies.
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The uranium market faced a considerable pullback in spot prices, impacting the trust's trading at a discount to NAV.
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The ETFs segment experienced flat AUM growth in 2024, primarily due to weakness in uranium equities.
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The company faces uncertainty in the uranium market due to geopolitical risks and potential changes in tariffs and regulations.
Q & A Highlights
Q: There's been a considerable pullback in uranium spot prices the last quarter. Can you talk about what your expectations are for the uranium market and spot prices in the next couple quarters? A: John Ciampaglia, CEO of Sprott Asset Management, explained that the uranium market is currently facing a lot of uncertainty, particularly due to potential changes in the Inflation Reduction Act and tariffs on uranium. The US is heavily reliant on uranium imports, and geopolitical tensions are causing market participants to be cautious. Until there is more clarity, the market is expected to remain volatile.