Sprott Inc. (NYSE: SII) has announced a new normal‑course issuer bid (NCIB) that will allow the company to repurchase up to 1,289,312 common shares—about 5 % of the 25,786,258 shares outstanding as of February 28 2026—through the Toronto Stock Exchange, Canadian alternate trading systems, the New York Stock Exchange and U.S. alternate trading systems. The program will run from March 11 2026 to March 10 2027.
Under the NCIB, Sprott can buy shares at a daily limit of 21,004 on the TSX, which represents 25 % of the average daily trading volume of 84,018 shares for the six months ended February 28 2026. The company has already executed repurchases under the current bid, buying 11,691 shares on the TSX at a weighted‑average price of C$60.45 and 15,386 shares on the NYSE at a weighted‑average price of US$64.97. An automatic share‑purchase plan (ASPP) also enables Sprott to buy shares during blackout periods when trading would otherwise be restricted.
The new program follows a previous NCIB that ran from March 11 2025 to March 10 2026 and allowed repurchases of up to 645,333 shares. Sprott’s decision to launch a second, larger program reflects the company’s strong cash‑flow generation and its commitment to returning excess capital to investors.
Sprott’s Q4 2025 earnings, released February 19 2026, showed revenue of $22.9 million—up 292 % from $5.82 million a year earlier—and net income of $28.73 million, up 146 % from $11.68 million a year earlier. Earnings per share of $1.11 beat analysts’ consensus estimate of $0.8075, a margin that underscores the company’s ability to translate revenue growth into profitability. The company’s assets under management grew to $59.6 billion as of December 31 2025, a 21 % increase from September 30 2025, and an 89 % jump from December 31 2024, while maintaining a debt‑free balance sheet.
Chief Executive Officer Whitney George said, "Sprott's Assets Under Management (“AUM”) were $59.6 billion as at December 31 2025, up 21 % from $49.1 billion as at September 30 2025, and up 89 % from $31.5 billion as at December 31 2024." She added that the company’s performance in precious metals and critical materials investments positioned it well for a "metals‑driven commodity super cycle."
By reducing the number of outstanding shares, the buyback program is expected to lift earnings per share and enhance shareholder value. The program also signals management’s confidence in the company’s cash‑flow generation and its broader capital allocation strategy, which includes disciplined investment in growth opportunities while returning excess capital to shareholders.
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