55,218 Elemental Royalty Corp $ELE Shares Bought by Euro Pacific Asset Management LLC

Euro Pacific Asset Management LLC boosted its position in Elemental Royalty Corp (NASDAQ:ELE) by 5.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,152,194 shares of the company’s stock after acquiring an additional 55,218 shares during the period. Elemental Royalty accounts for 1.4% of Euro Pacific Asset Management LLC’s investment portfolio, making the stock its 19th biggest position. Euro Pacific Asset Management LLC owned approximately 1.59% of Elemental Royalty worth $22,007,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of ELE. Amundi purchased a new position in Elemental Royalty during the 1st quarter valued at about $12,813,000. Montrusco Bolton Investments Inc. purchased a new stake in Elemental Royalty in the 3rd quarter worth approximately $8,610,000. Arbiter Partners Capital Management LLC lifted its holdings in Elemental Royalty by 522.6% in the 1st quarter. Arbiter Partners Capital Management LLC now owns 168,317 shares of the company’s stock worth $3,171,000 after buying an additional 141,284 shares during the period. Louisbourg Investments Inc. bought a new stake in shares of Elemental Royalty in the 1st quarter worth approximately $2,205,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Elemental Royalty in the 2nd quarter worth approximately $1,456,000.

Elemental Royalty Price Performance

ELE stock traded down $0.53 during trading on Tuesday, reaching $16.97. The company had a trading volume of 316,093 shares, compared to its average volume of 356,654. Elemental Royalty Corp has a 52 week low of $12.58 and a 52 week high of $26.96. The company has a market cap of $1.23 billion and a P/E ratio of 212.12. The business has a 50 day moving average of $20.29 and a 200 day moving average of $18.24.

Elemental Royalty (NASDAQ:ELE) last issued its quarterly earnings data on Tuesday, August 11th. The company reported $0.06 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 company had revenue of $23.79 million during the quarter. Research analysts expect that Elemental Royalty Corp will post 0.25 earnings per share for the current year.

Elemental Royalty Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Wednesday, September 30th. Elemental Royalty’s dividend payout ratio (DPR) is presently 150.00%.

Wall Street Analyst Weigh In

ELE has been the topic of several research analyst reports. HC Wainwright reduced their target price on Elemental Royalty from $33.00 to $31.00 and set a “buy” rating on the stock in a research note on Tuesday, September 22nd. Weiss Ratings raised Elemental Royalty from a “sell (d+)” rating to a “hold (c)” rating in a research note on Wednesday, August 12th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Elemental Royalty presently has an average rating of “Hold” and a consensus price target of $31.00.

Elemental Royalty Company Profile

Elemental Royalty Corp. is a precious-metals royalty and streaming company focused primarily on gold, with additional exposure to silver, copper and other commodities. Rather than operating mines directly, the company provides capital or other funding to mining operators in exchange for the right to receive a portion of future production or revenue from qualifying mineral properties.

The company has built a diversified portfolio of royalties and streams spanning multiple mining jurisdictions, including North and South America, Australia and Africa.