Stock Traders Buy Large Volume of Elemental Royalty Call Options (NASDAQ:ELE)

Elemental Royalty Corp (NASDAQ:ELE) saw unusually large options trading on Thursday. Stock investors bought 2,106 call options on the company. This represents an increase of approximately 2,437% compared to the average volume of 83 call options.

Wall Street Analysts Forecast Growth

ELE has been the topic of several analyst reports. HC Wainwright initiated coverage on Elemental Royalty in a research note on Monday, March 16th. They issued a “buy” rating and a $32.50 price objective on the stock. Zacks Research raised Elemental Royalty to a “hold” rating in a research report on Thursday, April 9th. Finally, Weiss Ratings lowered shares of Elemental Royalty from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, June 2nd. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Elemental Royalty presently has an average rating of “Hold” and an average target price of $32.50.

Elemental Royalty Stock Performance

Shares of ELE stock traded down $0.74 on Thursday, reaching $15.90. The stock had a trading volume of 74,926 shares, compared to its average volume of 318,667. Elemental Royalty has a 1 year low of $12.48 and a 1 year high of $26.96. The stock’s 50 day simple moving average is $17.71. The firm has a market cap of $1.02 billion and a PE ratio of 791.75.

Elemental Royalty (NASDAQ:ELE) last announced its quarterly earnings results on Wednesday, May 13th. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.10). The business had revenue of $24.32 million for the quarter.

Elemental Royalty Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were paid a $0.03 dividend. The ex-dividend date was Tuesday, March 31st. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.8%.

Institutional Trading of Elemental Royalty

Institutional investors have recently modified their holdings of the stock. Bartlett & CO. Wealth Management LLC acquired a new position in Elemental Royalty in the 1st quarter valued at about $32,000. Kestra Advisory Services LLC increased its position in shares of Elemental Royalty by 53.7% during the first quarter. Kestra Advisory Services LLC now owns 12,025 shares of the company’s stock valued at $227,000 after acquiring an additional 4,202 shares during the last quarter. Investment Counsel Co. of Nevada acquired a new position in shares of Elemental Royalty in the 4th quarter worth approximately $90,000. Caitlin John LLC acquired a new position in Elemental Royalty during the fourth quarter worth $97,000. Finally, Papamarkou Wellner Asset Management inc. purchased a new position in shares of Elemental Royalty during the fourth quarter worth $182,000.

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.