Elemental Royalty (NASDAQ:ELE) Issues Earnings Results

Elemental Royalty (NASDAQ:ELE) released its earnings results on Tuesday. The company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.04), Zacks reports. Elemental Royalty had a return on equity of 0.53% and a net margin of 4.01%.

Elemental Royalty Stock Performance

Shares of ELE traded down $0.73 during midday trading on Tuesday, hitting $16.09. 367,819 shares of the company traded hands, compared to its average volume of 358,860. The firm has a 50 day moving average of $18.38 and a 200-day moving average of $18.62. Elemental Royalty has a 52 week low of $12.58 and a 52 week high of $26.96. The stock has a market cap of $1.23 billion and a price-to-earnings ratio of 201.12.

Elemental Royalty Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Wednesday, September 30th were given a dividend of $0.03 per share. The ex-dividend date was Wednesday, September 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 150.00%.

Analyst Upgrades and Downgrades

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

Elemental Royalty Company Profile

Elemental Royalty Corporation is a precious-metals royalty company. It provides financing to mining companies in exchange for rights to a portion of future mineral production or revenue, allowing it to participate in mine output without directly operating the mines. The company’s portfolio includes royalties and other interests in producing mines and projects under development. Its assets span multiple regions, including Australia, Africa, and the Americas. The business traces its roots to the 2022 merger of Elemental Royalties and Altus Strategies.