Montreal Exchange Introduces Options for Sprott Physical Uranium Trust
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Sep 03 2025
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Should l Buy SII?
Source: Newsfilter
Options Trading Announcement: Sprott Asset Management has announced that the Bourse de Montreal began listing options on the Sprott Physical Uranium Trust (SPUT) on September 2, 2025, making it the first physical uranium vehicle to offer such trading.
Market Position and Benefits: CEO John Ciampaglia highlighted that SPUT options will provide investors and traders with alternative methods to establish or hedge positions in physical uranium, especially in the absence of an active futures market.
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Analyst Views on SII
Wall Street analysts forecast SII stock price to rise
3 Analyst Rating
1 Buy
2 Hold
0 Sell
Moderate Buy
Current: 118.270
Low
119.48
Averages
128.82
High
137.18
Current: 118.270
Low
119.48
Averages
128.82
High
137.18
About SII
Sprott Inc. is a Canada-based global asset manager focused on precious metals and critical materials investments. Its investment strategies include exchange-listed products, managed equities and private strategies. Its segments include Exchange listed products, Managed equities, Private strategies and Corporate. The Exchange listed products segment provides management services to its closed-end physical trusts and exchange-traded funds (ETFs). The Managed equities segment provides management services to its alternative investment strategies managed in-house and on a sub-advisory basis. The Private strategies segment provides lending and streaming activities through limited partnership vehicles. Its Corporate segment provides capital, balance sheet management and enterprise shared services to its subsidiaries. Its subsidiaries include Sprott Asset Management LP, Sprott U.S. Holdings Inc., Sprott Resource Streaming and Royalty Corporation, Sprott Resource Lending Corp. and others.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Enhanced Policy Support: U.S. policy targets aim for a fourfold increase in nuclear capacity by 2050 and the construction of at least 10 large reactors by 2030, necessitating a substantial increase in uranium supply, thereby creating durable demand visibility for the industry.
- Supply Constraints: Kazakhstan, a major source of global uranium supply, has tightened exploration and development controls, making it difficult to increase production levels, which further exacerbates market supply shortages and is likely to push uranium prices higher.
- Strong Equity Performance: The Sprott report indicates that uranium-related equities have significantly outperformed global stocks and broad commodities over the past five years, suggesting that the combination of strategic demand and constrained production may sustain momentum in the sector, attracting more investor interest.
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- Shareholder Approval Required: Under Canadian securities laws, the proposed changes to the redemption mechanism will require approval from existing unitholders, with a meeting to be scheduled in due course to ensure shareholder engagement and support for the Trust's future developments.
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- Valuation Analysis: The Excess Returns model estimates Sprott's intrinsic value at approximately CA$38.62 per share, indicating it is overvalued by 255.2% compared to the current market price, which could undermine future investor confidence.
- PE Ratio Comparison: Sprott's PE ratio stands at 51.4x, significantly above the capital markets industry average of 8.6x, indicating strong market expectations for future growth but also suggesting a potentially stretched valuation.
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Market Implications: The initiation of coverage may influence investor interest and market dynamics related to Sprott's stock.
See More
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- Uranium Price Surge: Uranium prices have surpassed $100 per pound, reaching a two-year high, reflecting sustained market demand for nuclear fuel, particularly amid increasing policy support and supply risks, which are expected to drive long-term industry growth.
- Enhanced Policy Support: U.S. policy targets aim for a fourfold increase in nuclear capacity by 2050 and the construction of at least 10 large reactors by 2030, necessitating a substantial increase in uranium supply, thereby creating durable demand visibility for the industry.
- Supply Constraints: Kazakhstan, a major source of global uranium supply, has tightened exploration and development controls, making it difficult to increase production levels, which further exacerbates market supply shortages and is likely to push uranium prices higher.
- Strong Equity Performance: The Sprott report indicates that uranium-related equities have significantly outperformed global stocks and broad commodities over the past five years, suggesting that the combination of strategic demand and constrained production may sustain momentum in the sector, attracting more investor interest.
See More
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- SEC Approval: Sprott Asset Management announced that the SEC has approved its application for the Sprott Physical Copper Trust to list on NYSE Arca, marking a significant step towards dual-listing in the U.S. market, which is expected to attract more American investors.
- Growing Market Demand: As demand for electricity generation, distribution, and storage rises, the need for copper as a critical material is increasing, and this listing will provide U.S. investors with easier access to invest in the copper market, further stimulating market activity.
- Redemption Mechanism Changes: The Trust's redemption feature is set to be amended from a semi-annual to a monthly redemption schedule, removing the current cap of 1.5% on the number of units that can be redeemed, which will enhance liquidity and attract more investor participation.
- Shareholder Approval Required: Under Canadian securities laws, the proposed changes to the redemption mechanism will require approval from existing unitholders, with a meeting to be scheduled in due course to ensure shareholder engagement and support for the Trust's future developments.
See More
Sprott Evaluates Market Structural Changes for Gold and Silver, Reveals 2026 Themes
- Market Structural Changes: Sprott asserts that after a strong growth period, the gold and silver markets have transitioned from mere trades to core allocations influenced by politics and policy, reflecting profound shifts in the global economic landscape.
- Deglobalization Trend: As geopolitical tensions rise, governments are reclassifying critical minerals and energy as strategic assets, leading to market fragmentation and price dislocations, with significant price disparities for copper across regions impacting global supply chain stability.
- Debt Conundrum: U.S. public debt is projected to exceed $38 trillion by 2025, with chronic fiscal deficits forcing central banks into accommodative policies, creating a challenging environment for cash and bond investments and driving demand for scarce assets.
- Uranium's Rise: Sprott identifies uranium as the emerging cornerstone of energy security, with the U.S. expected to provide up to $80 billion in funding for new reactor construction, indicating strong policy support for nuclear energy that will drive growth in the uranium market.
See More
Edna Gareh Trust Acquires 48.3% Stake in Senvest Capital Inc.
- Change in Share Control: The Edna Gareh Spousal Trust gained indirect control over Revroy Enterprises, which holds 1,170,929 common shares of Senvest Capital Inc., representing approximately 48.3% of total outstanding shares, following the death of Victor Mashaal on December 25, 2025, positioning the Trust as a significant shareholder.
- Trust Management Structure: The Trust is managed by trustees Richard Mashaal, Frank Daniel, and George Malikotsis, who collectively determine how to vote the shares controlled by the Trust, thereby influencing Senvest's governance structure and shareholder decisions.
- Future Action Flexibility: While the Trust currently has no specific plans regarding its Senvest holdings, it retains the option to acquire additional shares or dispose of its holdings as deemed appropriate, providing strategic flexibility in response to market conditions.
- Legal Compliance: The Trust's operations adhere to applicable securities laws and regulations, ensuring that its shareholding and voting practices maintain investor confidence and contribute to market stability.
See More
Sprott Stock Surges 119% YTD but Valuation Signals Overvaluation
- Stock Performance: Sprott's stock has surged by 130.1% over the past year and 119% year-to-date, reflecting strong investor interest in precious metals and resource strategies, yet the current price suggests high expectations may be priced in.
- Valuation Analysis: The Excess Returns model estimates Sprott's intrinsic value at approximately CA$38.62 per share, indicating it is overvalued by 255.2% compared to the current market price, which could undermine future investor confidence.
- PE Ratio Comparison: Sprott's PE ratio stands at 51.4x, significantly above the capital markets industry average of 8.6x, indicating strong market expectations for future growth but also suggesting a potentially stretched valuation.
- Investor Sentiment: Despite Sprott's strong stock performance, it scores 0/6 on valuation checks, indicating it is not viewed as undervalued by traditional metrics, which may lead investors to reassess its attractiveness as an investment.
See More
RBC Begins Coverage of Sprott with a Sector Perform Rating and C$132 Price Target
RBC Coverage Initiation: RBC Capital Markets has begun coverage of Sprott (SII.TO, SII), indicating a focus on the company's sector performance.
Market Implications: The initiation of coverage may influence investor interest and market dynamics related to Sprott's stock.
See More
