Sprott results beat estimates

Sprott Inc.'s (SII-T) quarterly results beat analysts' estimates as the Canadian fund manager reported an increase in assets under management with larger funds benefiting from exposure to gold and silver.

For the July-September quarter, the company's net income rose 74 percent to $9.6 million, or 6 cents a share. That compares with $5.5 million, or 4 cents a share, a year ago.

Assets under management were about $6.5 billion, up 51 percent compared with $4.3 billion, a year ago.

Total revenue stood at $29.1 million.

Analysts, on average, expected the company to earn 5 cents a share on revenue of $26.8 million, according to analysts polled by Thomson Reuters.

Management fees were up 19 percent to $24.7 million.

AUM rose during the quarter, partly driven by net sales from follow-on offering of units of the Sprott Physical Gold Trust. Shares of the company have gained more than 90 percent in last three months.