07:50 AM EDT, 05/07/2025 (MT Newswires) -- Sprott (SII.TO) on Wednesday said net income for the first quarter rose modestly.

Net income for the quarter increased 3% to US$12 million, or US$0.46 per share, from US$11.6 million, or US$0.45 per share, for the previous corresponding quarter. Earnings benefited from higher average assets under management on strong market value appreciation and inflows to precious metals physical trusts, partially offset by ongoing weaker market valuations of our critical materials product offerings.

Total revenue increased to US$43.4 million, from US$41.5 million.

Sprott said its Assets Under Management ended the first quarter of 2025 at $35.1 billion, up 11% from $31.5 billion as at December 31, 2024. Said Whitney George, Chief Executive Officer: "Our AUM growth during the quarter was driven by surging gold prices and strong inflows to our physical gold and silver strategies. During the first three months of the year, we benefited from over $3.1 billion of market value appreciation. We also delivered approximately $407 million of net flows. Subsequent to quarter-end, we generated another $816 million of net flows, primarily into our flagship Sprott Physical Gold Trust and benefited from $629 million of market value appreciation, bringing our AUM to $36.5 billion as at May 2, 2025, up 4% from March 31, 2025."

The company's shares were last seen up US$0.01, to US$53.43 in U.S. pre-market trading.