Elemental Royalty (NASDAQ:ELE) Announces Quarterly Earnings Results

Elemental Royalty (NASDAQ:ELE) posted its quarterly earnings data on Tuesday. The company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.04), Zacks reports. Elemental Royalty had a net margin of 4.01% and a return on equity of 0.53%.

Elemental Royalty Price Performance

Shares of ELE traded down $0.73 during trading hours on Tuesday, hitting $16.09. The stock had a trading volume of 367,819 shares, compared to its average volume of 358,860. The firm has a market capitalization of $1.23 billion and a PE ratio of 201.12. Elemental Royalty has a 12 month low of $12.58 and a 12 month high of $26.96. The stock has a fifty day moving average price of $18.38 and a 200 day moving average price of $18.62.

Elemental Royalty Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th were issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Wednesday, September 30th. Elemental Royalty’s payout ratio is presently 150.00%.

Analyst Ratings Changes

ELE has been the subject of a number of research analyst reports. HC Wainwright lowered their target price on 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 raised shares of Elemental Royalty from a “sell (d+)” rating to a “hold (c)” rating in a research report on Wednesday, August 12th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Elemental Royalty presently has an average 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.