Elemental Royalty Corp $ELE Stock Bought by Euro Pacific Asset Management LLC

Euro Pacific Asset Management LLC grew its position in Elemental Royalty Corp (NASDAQ:ELE) by 4.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,147,776 shares of the company’s stock after acquiring an additional 50,800 shares during the period. Elemental Royalty comprises 1.6% of Euro Pacific Asset Management LLC’s portfolio, making the stock its 17th largest holding. Euro Pacific Asset Management LLC owned 1.50% of Elemental Royalty worth $23,538,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in ELE. Kestra Advisory Services LLC acquired a new position in Elemental Royalty during the 3rd quarter worth approximately $203,000. Accordant Advisory Group Inc grew its position in shares of Elemental Royalty by 6.9% during the third quarter. Accordant Advisory Group Inc now owns 97,940 shares of the company’s stock worth $1,871,000 after acquiring an additional 6,324 shares during the last quarter. U S Global Investors Inc. bought a new position in shares of Elemental Royalty during the third quarter worth about $9,030,000. TD Waterhouse Canada Inc. grew its position in shares of Elemental Royalty by 56.3% during the third quarter. TD Waterhouse Canada Inc. now owns 2,146 shares of the company’s stock worth $39,000 after acquiring an additional 773 shares during the last quarter. Finally, State of Alaska Department of Revenue acquired a new stake in shares of Elemental Royalty in the 3rd quarter worth about $52,000.

Elemental Royalty Price Performance

Shares of Elemental Royalty stock opened at $15.94 on Monday. Elemental Royalty Corp has a 12-month low of $12.58 and a 12-month high of $26.96. The stock has a 50 day moving average price of $18.48 and a two-hundred day moving average price of $18.63. The stock has a market capitalization of $1.22 billion and a P/E ratio of 199.25.

Elemental Royalty (NASDAQ:ELE) last posted its quarterly earnings data on Tuesday, August 11th. The company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.07). Elemental Royalty had a return on equity of 0.53% and a net margin of 4.01%. The firm had revenue of $23.79 million for the quarter. Sell-side analysts anticipate that Elemental Royalty Corp will post 0.25 earnings per share for the current year.

Elemental Royalty Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th were given a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Wednesday, September 30th. Elemental Royalty’s payout ratio is currently 150.00%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on ELE shares. Weiss Ratings upgraded shares of Elemental Royalty from a “sell (d+)” rating to a “hold (c)” rating in a research report on Wednesday, August 12th. HC Wainwright decreased their target price on shares of Elemental Royalty from $33.00 to $31.00 and set a “buy” rating for the company in a research report on Tuesday, September 22nd. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $31.00.

About Elemental Royalty

Elemental Royalty is a precious-metals royalty company that provides capital to mining companies in exchange for the right to receive a portion of future revenue or metal production from mining projects. Its business model allows it to participate in mine economics without directly operating mines or bearing the full costs of exploration, construction and production.

The company’s portfolio is focused primarily on gold and other precious metals, with royalty interests spanning projects in regions including North America, South America, Africa and Australia.