HC Wainwright Cuts Elemental Royalty (NASDAQ:ELE) Price Target to $31.00

by · The Markets Daily

Elemental Royalty (NASDAQ:ELE – Free Report) had its target price reduced by HC Wainwright from $33.00 to $31.00 in a report issued on Tuesday, Marketbeat Ratings reports. They currently have a buy rating on the stock.

Separately, 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 analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $31.00.

View Our Latest Stock Report on ELE

Elemental Royalty Stock Performance

Shares of ELE stock opened at $20.15 on Tuesday. The company has a market capitalization of $1.30 billion and a price-to-earnings ratio of 251.87. Elemental Royalty has a one year low of $12.58 and a one year high of $26.96. The company’s 50-day moving average is $19.56 and its 200 day moving average is $18.44.

Elemental Royalty (NASDAQ:ELE – Get Free Report) last issued its earnings results on Tuesday, August 11th. The company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.07). The firm had revenue of $23.79 million during the quarter. Elemental Royalty had a return on equity of 0.53% and a net margin of 4.01%. As a group, research analysts predict that Elemental Royalty will post 0.23 earnings per share for the current fiscal year.

Elemental Royalty Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be issued a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.6%. The ex-dividend date is Wednesday, September 30th. Elemental Royalty’s dividend payout ratio (DPR) is presently 150.00%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Bank of New York Mellon Corp purchased a new stake in Elemental Royalty in the second quarter worth approximately $1,456,000. Amundi purchased a new stake in Elemental Royalty during the 1st quarter valued at $12,813,000. Aspen Grove Capital LLC purchased a new stake in Elemental Royalty during the 1st quarter valued at $1,331,000. Louisbourg Investments Inc. bought a new position in shares of Elemental Royalty during the 1st quarter valued at $2,205,000. Finally, Arbiter Partners Capital Management LLC lifted its holdings in shares of Elemental Royalty by 522.6% during the 1st quarter. Arbiter Partners Capital Management LLC now owns 168,317 shares of the company’s stock valued at $3,171,000 after buying an additional 141,284 shares during the period.

About Elemental Royalty

(Get Free Report)

Elemental Royalty is a precious-metals royalty company that acquires and manages royalty, stream and other interests in mining projects. Rather than operating mines directly, the company provides capital or acquires existing interests in exchange for the right to receive a portion of future production or revenue, generally with limited exposure to the mine’s operating and capital costs.

The company’s portfolio is focused primarily on gold, with additional exposure to silver, copper and other metals through a range of producing, development-stage and exploration assets.

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