Elemental Royalty (NASDAQ:ELE) Shares Gap Up – Time to Buy?

Elemental Royalty Corp (NASDAQ:ELE) shares gapped up before the market opened on Friday . The stock had previously closed at $14.79, but opened at $15.42. Elemental Royalty shares last traded at $14.8370, with a volume of 67,145 shares changing hands.

Analysts Set New Price Targets

A number of brokerages recently commented on ELE. HC Wainwright began coverage on Elemental Royalty in a research report on Monday, March 16th. They set a “buy” rating and a $32.50 price target for the company. Weiss Ratings downgraded Elemental Royalty from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, June 2nd. Finally, Zacks Research raised Elemental Royalty to a “hold” rating in a research report on Thursday, April 9th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $32.50.

Elemental Royalty Stock Up 1.8%

The stock’s fifty day simple moving average is $17.95. The stock has a market capitalization of $970.63 million and a price-to-earnings ratio of 752.25.

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

Elemental Royalty Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st were issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Tuesday, March 31st.

Hedge Funds Weigh In On Elemental Royalty

Several institutional investors and hedge funds have recently bought and sold shares of the company. Sprott Inc. bought a new position in Elemental Royalty during the fourth quarter valued at $31,830,000. Medici Capital LLC bought a new position in shares of Elemental Royalty in the fourth quarter worth $14,890,000. Condire Management LP bought a new position in shares of Elemental Royalty in the fourth quarter worth $11,646,000. Amundi bought a new position in shares of Elemental Royalty in the first quarter worth $12,813,000. Finally, Marshall Wace LLP bought a new position in shares of Elemental Royalty in the fourth quarter worth $5,243,000.

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.