Elemental Royalty (NASDAQ:ELE) Trading Up 8.1% – Should You Buy?

Elemental Royalty Corp (NASDAQ:ELE) rose 8.1% during trading on Friday . The company traded as high as $16.57 and last traded at $16.3810. Approximately 287,059 shares were traded during mid-day trading, a decline of 12% from the average daily volume of 325,649 shares. The stock had previously closed at $15.16.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on ELE. Weiss Ratings lowered Elemental Royalty from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, June 2nd. Zacks Research raised Elemental Royalty to a “hold” rating in a research note on Thursday, April 9th. Finally, HC Wainwright began coverage on Elemental Royalty in a report on Monday, March 16th. They issued a “buy” rating and a $32.50 price objective on the stock. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $32.50.

Elemental Royalty Stock Performance

The firm has a market capitalization of $1.06 billion and a price-to-earnings ratio of 821.40. The firm’s 50 day simple moving average is $17.23.

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

Elemental Royalty Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be issued a dividend of $0.03 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.7%. Elemental Royalty’s dividend payout ratio is currently 600.00%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ELE. Bartlett & CO. Wealth Management LLC acquired a new stake in Elemental Royalty in the 1st quarter worth approximately $32,000. Investment Counsel Co. of Nevada acquired a new position in Elemental Royalty during the fourth quarter valued at approximately $90,000. Caitlin John LLC acquired a new position in Elemental Royalty during the fourth quarter valued at approximately $97,000. Kestra Advisory Services LLC bought a new position in shares of Elemental Royalty in the fourth quarter valued at approximately $133,000. Finally, Papamarkou Wellner Asset Management inc. bought a new position in shares of Elemental Royalty in the fourth quarter valued at approximately $182,000.

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.