Elemental Royalty (NASDAQ:ELE) Shares Gap Up – Still a Buy?

Elemental Royalty Corp (NASDAQ:ELE) shares gapped up before the market opened on Friday . The stock had previously closed at $14.79, but opened at $15.42. Elemental Royalty shares last traded at $14.8370, with a volume of 67,145 shares changing hands.

Analyst Ratings Changes

Several research firms recently weighed in on ELE. Zacks Research upgraded shares of Elemental Royalty to a “hold” rating in a research report on Thursday, April 9th. HC Wainwright began coverage on shares of Elemental Royalty in a research report on Monday, March 16th. They set a “buy” rating and a $32.50 price target for the company. Finally, Weiss Ratings lowered shares of Elemental Royalty from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, June 2nd. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $32.50.

Elemental Royalty Stock Performance

The company has a market cap of $988.03 million and a P/E ratio of 766.50. The business’s 50-day moving average price is $17.87.

Elemental Royalty (NASDAQ:ELE) last issued its earnings results on Wednesday, May 13th. The company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.10). The business had revenue of $24.32 million for the quarter.

Elemental Royalty Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st were given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Tuesday, March 31st.

Hedge Funds Weigh In On Elemental Royalty

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Regal Partners Ltd bought a new position in Elemental Royalty during the first quarter worth about $203,000. Aspen Grove Capital LLC bought a new position in Elemental Royalty during the first quarter worth about $1,331,000. Arbiter Partners Capital Management LLC boosted its position in Elemental Royalty by 522.6% during the first quarter. Arbiter Partners Capital Management LLC now owns 168,317 shares of the company’s stock worth $3,171,000 after purchasing an additional 141,284 shares during the period. Kestra Advisory Services LLC boosted its position in Elemental Royalty by 53.7% during the first quarter. Kestra Advisory Services LLC now owns 12,025 shares of the company’s stock worth $227,000 after purchasing an additional 4,202 shares during the period. Finally, Caitlin John LLC bought a new position in Elemental Royalty during the fourth quarter worth about $97,000.

About Elemental Royalty

Elemental Royalties (NASDAQ: ELE) is a publicly traded company that acquires and manages royalty and streaming interests in the mining sector. The firm focuses on securing long‑lived, low‑cost interests that provide ongoing, contractually defined payments or metal deliveries from producing and near‑term development mineral projects. By targeting royalties and streams rather than operating mines, the company seeks exposure to commodity price upside while avoiding the capital intensity and operating risks of miners.

Elemental Royalties’ activities include sourcing and negotiating royalty and stream transactions, performing technical and commercial due diligence on potential assets, and actively managing a diversified portfolio of interests.