HC Wainwright Has Lowered Expectations for Elemental Royalty (NASDAQ:ELE) Stock Price

Elemental Royalty (NASDAQ:ELE) had its price target dropped by equities researchers at HC Wainwright from $31.00 to $30.25 in a research note issued on Thursday, Benzinga reports. The firm presently has a “buy” rating on the stock. HC Wainwright‘s price target points to a potential upside of 114.84% from the company’s previous close.

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Elemental Royalty in a research report on Tuesday. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $30.25.

Elemental Royalty Price Performance

Shares of NASDAQ:ELE opened at $14.08 on Thursday. The business’s 50-day moving average is $18.15 and its 200 day moving average is $18.59. Elemental Royalty has a 1 year low of $12.58 and a 1 year high of $26.96. The firm has a market capitalization of $1.08 billion and a P/E ratio of 176.00.

Elemental Royalty (NASDAQ:ELE) last issued its quarterly earnings results on Tuesday, November 10th. The company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.04). Elemental Royalty had a return on equity of 0.73% and a net margin of 6.15%. The business had revenue of $20.81 million during the quarter. On average, analysts expect that Elemental Royalty will post 0.25 EPS for the current year.

Institutional Trading of Elemental Royalty

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Euro Pacific Asset Management LLC grew its stake in Elemental Royalty by 4.6% during the 3rd quarter. Euro Pacific Asset Management LLC now owns 1,147,776 shares of the company’s stock valued at $23,538,000 after purchasing an additional 50,800 shares during the last quarter. Kestra Advisory Services LLC acquired a new position in shares of Elemental Royalty in the third quarter valued at about $203,000. Accordant Advisory Group Inc raised its stake in shares of Elemental Royalty by 6.9% in the third quarter. Accordant Advisory Group Inc now owns 97,940 shares of the company’s stock worth $1,871,000 after purchasing an additional 6,324 shares during the last quarter. U S Global Investors Inc. purchased a new position in shares of Elemental Royalty in the third quarter worth about $9,030,000. Finally, TD Waterhouse Canada Inc. lifted its holdings in shares of Elemental Royalty by 56.3% during the third quarter. TD Waterhouse Canada Inc. now owns 2,146 shares of the company’s stock worth $39,000 after purchasing an additional 773 shares during the period.

About Elemental Royalty

Elemental Royalty Corporation is a precious-metals royalty company. It provides financing to mining companies in exchange for rights to a portion of future mineral production or revenue, allowing it to participate in mine output without directly operating the mines. The company’s portfolio includes royalties and other interests in producing mines and projects under development. Its assets span multiple regions, including Australia, Africa, and the Americas. The business traces its roots to the 2022 merger of Elemental Royalties and Altus Strategies.