Elemental Royalty (NASDAQ:ELE) Shares Up 2.7% – Still a Buy?

Elemental Royalty Corp (NASDAQ:ELE)’s share price traded up 2.7% on Thursday . The company traded as high as $23.12 and last traded at $23.12. 89,661 shares changed hands during mid-day trading, a decline of 72% from the average session volume of 316,164 shares. The stock had previously closed at $22.51.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings assumed coverage on Elemental Royalty in a research note on Tuesday, January 27th. They issued a “hold (c)” rating for the company. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat, Elemental Royalty presently has a consensus rating of “Hold”.

Elemental Royalty Stock Up 2.2%

Hedge Funds Weigh In On Elemental Royalty

A number of hedge funds have recently modified their holdings of the business. Sprott Inc. acquired a new stake in Elemental Royalty in the fourth quarter valued at $31,830,000. Medici Capital LLC acquired a new position in Elemental Royalty during the 4th quarter worth about $14,890,000. Condire Management LP bought a new stake in shares of Elemental Royalty in the 4th quarter valued at about $11,646,000. Marshall Wace LLP acquired a new stake in shares of Elemental Royalty in the fourth quarter valued at about $5,243,000. Finally, Global Strategic Management Inc. acquired a new stake in shares of Elemental Royalty in the fourth quarter valued at about $4,740,000.

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.