HC Wainwright Forecasts Strong Price Appreciation for Elemental Royalty (NASDAQ:ELE) Stock

Elemental Royalty (NASDAQ:ELE) had its price objective hoisted by analysts at HC Wainwright from $32.50 to $33.00 in a report released on Wednesday, Marketbeat.com reports. The firm currently has a “buy” rating on the stock. HC Wainwright’s price objective points to a potential upside of 70.10% from the stock’s current price.

Separately, Weiss Ratings downgraded shares of Elemental Royalty from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, June 2nd. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Elemental Royalty has an average rating of “Hold” and an average price target of $33.00.

Elemental Royalty Stock Up 1.7%

Elemental Royalty stock opened at $19.40 on Wednesday. The firm has a market cap of $1.25 billion and a PE ratio of 970.00. The company has a fifty day moving average of $16.16. Elemental Royalty has a 1 year low of $12.58 and a 1 year high of $26.96.

Elemental Royalty (NASDAQ:ELE) last posted its quarterly earnings data on Tuesday, August 11th. The company reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.07). Elemental Royalty had a negative return on equity of 0.12% and a negative net margin of 1.05%. On average, sell-side analysts predict that Elemental Royalty will post 0.37 EPS for the current fiscal year.

Hedge Funds Weigh In On Elemental Royalty

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Bartlett & CO. Wealth Management LLC purchased a new stake in shares of Elemental Royalty in the first quarter valued at approximately $32,000. Investment Counsel Co. of Nevada purchased a new stake in Elemental Royalty in the 4th quarter valued at $90,000. Caitlin John LLC acquired a new stake in shares of Elemental Royalty in the 4th quarter worth $97,000. Kestra Advisory Services LLC acquired a new position in shares of Elemental Royalty during the 4th quarter valued at about $133,000. Finally, Papamarkou Wellner Asset Management inc. purchased a new stake in shares of Elemental Royalty in the fourth quarter valued at about $182,000.

Elemental Royalty Company Profile

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.