The Globe and Mail reports in its Friday, Feb. 20, edition that RBC Dominion Securities analyst Bart Dziarski upgraded Sprott after "strong" fourth quarter results, noting the company's operating leverage from favourable commodity pricing, net inflows and growth in profitability. The Globe's David Leeder writes in the Eye On Equities column that Mr. Dziarski anticipates this trend will continue into 2026 and beyond. Accordingly, Mr. Dziarski upgraded Sprott to "outperform" from "sector perform." Analysts on average target the shares at $174.75. Sprott shares surged 5.7 per cent on Thursday after reporting earnings per share of $1.11, surpassing estimates of 68 cents and the consensus of 72 cents, driven by higher performance fees. Assets under management reached $59.6 billion (U.S.), an 89-per-cent year-over-year increase, primarily due to precious metals price appreciation and strong net flows. Mr. Dziarski says in a note: "Potential upside to our carried interest estimates. Q4/25 carried interest of $38-million could give us a glimpse into the potential earnings power of this earnings stream as Sprott's managed equities team and private lending strategies continue to outperform with constructive commodity markets."