Sprott Physical Uranium Trust Fund - SRUUF stock
Introduction to the Company[edit]
Sprott Physical Uranium Trust Fund (OTC: SRUUF, TSX: U-UN) is a global asset manager focused on providing investors with access to precious metals and energy transformation investment opportunities. The company has an international client base stretching more than 250,000 heads. Sprott Inc. is a holding company made up of individual companies comprising, Resource Lending Corp., Sprott Capital Partners LP, Sprott Asset Management LP, Sprott, and Sprott U.S. Holdings, Inc. Sprott Asset Management LP, is registered as an investment advisor in the U.S. and as a portfolio manager in Ontario and as an investment fund manager in Quebec, Ontario, Newfoundland, and Labrador. Sprott Capital Partners LP is an investment dealer in Canada. Sprott Resource Lending Corp. advances financial solutions to mining institutions while Sprott U.S. Holdings, Inc. provides advisory and broker services. Sprott’s investment strategies are applied to Exchange Listed Products, managed equities, and private strategies. It heavily leverages its knowledge, experience, and established relationships to savor heights and generate optimal revenue for its shareholders. It has offices in London, New York, and Toronto. The company was founded by Eric Sprott, in 1981 and its precious metal investment journey. Sprott’s common shares are publicly traded on the New York Stock Exchange and Toronto Stock Exchange under the SII symbol and on OTCQX markets under the SRUUF symbol.[1]
Corporate Operations[edit]
The company operates via three distinct segments; asset management, resource financing, and wealth management. It offers investors world-class real assets and precious metals investment opportunities. Sprott offers actively managed equity strategies, unique physical bullion trusts, and specialized private equity and debt solutions. The company’s platforms are capable of meeting its client’s needs through both private and public strategies, offshore funds, institutional LPs, and separately-managed accounts. Sprott Physical Bullion Trusts offers investors flexibility in owning physical precious metals. Its fully allocated precious metals (liquid) are held at the Royal Canadian Mint and are redeemable for physical metals and traded in TSX and NYSE platforms.[2] Sprott Physical Uranium Trust provides secure, efficient, and exchange-traded investment options for those investors interested in holding physical uranium while eradicating the physical shortcomings of directly investing in physical uranium. It invests and holds a significant amount of all its assets in physical uranium in uranium oxide concentrates form and uranium hexafluoride. Sprott Physical Uranium Trust aims to meet its objective by going long over short on unencumbered, fully allocated, physical uranium holding. Sprott Asset Management LP is the Trust’s investment manager while WMC Energy B.V. issues technical advice to the trust.[3]
Sprott Gold Equity Fund (SGDLX) focuses on long-term capital appreciation by investing 80% of its net assets plus borrowings in gold and other precious metals and securities of companies involved in the mining or processing of gold across the globe. It employs a value approach to investing where it identifies and invests in undervalued companies with massive growth potential. Sprott Uranium Miners Fund is committed to investing 80% minimum of its assets in the stocks of North Shore Global Uranium Mining Index (URNMX), an index that measures and tracks the performance of firms that have invested a minimum of 0% of their assets in the uranium mining industry. Sprott factor-based gold miner ETFs, distributed by ALPS Portfolio Solutions Distributor, Inc., give investors access to unique and innovative gold miners indexes engineered to surpass the performance of passive market cap-weighted investments.[2]
Sprott leverages its 30 years of experience and its team’s capabilities in highly customized debts and other debt solutions to advance its client’s financing solutions across their entire mining life cycle. Sprott Capital Partners, the company’s brokerage arm, provides clients in the natural resources sector with capital raising and advisory services.[4] The company also provides wealth management services to clients in Canada, the U.S., and across the world via Sprott Capital Partners and Sprott USA, its subsidiaries. The two institutions provide clients access to unique and exclusive investment instruments in the natural resources field.[5]
Corporate News and Updates[edit]
The company provided its financial and operational third quarter results for the period that ended Sept. 30, 2022, on Nov. 4, 2022. Highlights of the firm’s performance include:
- Recorded a net income of $3.1 million ($0.12 per share), a 65% decrease from $5.6 million ($0.23 per share) in the same quarter of 2021, and $10.3 million on a year-to-date basis, a 55% decline from $12.7 million for the nine months ended Sept. 30, 2021
- Its Adjusted base EBITDA increased by 1% or $0.1 million to $16.8 million ($0.67 per share) compared to the third quarter of 2021
- The company expanded its product portfolio with the launch of Sprott ESG Gold ETF, a unique vehicle designed to aid global institutions to achieve their ESG objectives
- Its private strategies generated approximately $380 million in net sales during the quarter.[6]
Sprott distributes dividends to its shareholders every quarter. On Nov. 3, 2022, the company announced a declaration of third quarter 2022 dividends which were set to be disbursed on Nov. 29, 2022, to shareholders of record as of the close of business date, Nov. 14. The dividends are payable on shareholders’ residential countries’ currency.[7]
Leadership[edit]
Whitney George, Chief Executive Officer
- He was named CEO in 2022
- He also serves at Sprott Asset Management USA as a Senior Portfolio Manager
- Before joining Sprott in 2015, Mr. Whitney worked in significant roles for 23 years at Royce & Associates LLC, New York. He was Co-Chief Investment Officer for the firm between 2009 and 2013
- Before joining Royce, he served significant roles at Adams & Peck, Dominick & Dominick, Inc., Laidlaw, WR Lazard & Laidlaw, Inc., and Oppenheimer & Co. Inc
- He has a bachelor's degree from Trinity College.
Kevin Hibbert, FCPA, FCA, Chief Financial Officer, Senior Managing Partner & Co-Head of Enterprise Shared Services Group
- Responsible for several corporate roles including external financial reporting, financial planning and analysis, taxes, investment operations, treasury, information technology, investor relations and corporate communication, and office facilities, among others.
- He is a board member of the UHN Foundation, North America
- Holds has a BA honors degree in Management from the University of Toronto. He is also a Fellow of CPA Ontario.[8]
ESG[edit]
The company is determined to practice high standards in sustainable investing with a focus on giving back to the environment and localities where mining operations are conducted. Sprott understands its corporate duty to deliver returns by being a responsible investor. The company thus established an ESG Committee charged with creating and implementing its ESG programs in all its operating subsidiaries. The company has also committed to incorporating relatable United Nations Principles for Responsible Investment (UNPRI) into its investment decision-making and ownership practices.[9]
- ↑ About Sprott Physical Uranium Trust Fund – SRUUF official website. Read on 01/30/2023.
- ↑ 2.0 2.1 What We Do, Asset Management – Sprott website. Read on 01/30/2023.
- ↑ COMPANY DETAILS - cnbc.com/quotes/SRUUF?tab=profile. CNBC News. Accessed on 01/30/2023.
- ↑ What We Do, Resource Financing – Sprott website. Accessed on 01/30/2023.
- ↑ What We Do, Wealth Management – Sprott website. Accessed on 01/30/2023.
- ↑ Sprott 2022 Third Quarter Results Report, Page 3 – Sprott 2022 Press Releases. Retrieved on 01/31/2023.
- ↑ Sprott Inc. Declares Third Quarter 2022 Dividend – Sprott 2022 Press Releases. Read on 01/31/2023.
- ↑ Leadership, Corporate Leadership Team – Sprott website. Retrieved on 01/31/2023.
- ↑ Sprott Inc. Environmental, Social, and Governance ("ESG") – Sprott website. Retrieved on 01/31/2023.
OTC Symbol: SRUUF | OTC Tier: OTCQX International
