Sprott Inc's stock soared 16.34% during intraday trading on Wednesday, following the release of its first-quarter financial results.
The specialist asset manager reported net income of $29.2 million for the quarter ended March 31, 2026, more than doubling from $12 million in the same period last year. Adjusted EBITDA climbed to $57.9 million from $21.9 million a year earlier, while total revenue surged to $143 million from $43.4 million.
Sprott's assets under management rose to $65.07 billion, representing a 9.2% increase from the previous quarter and an 86% year-over-year gain. The company attributed the growth to market-value appreciation across most fund products and positive net inflows to its exchange-listed products. Earnings per share of $1.13 exceeded analyst expectations of $0.93.
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