Elemental Royalty (NASDAQ:ELE) Releases Earnings Results, Misses Estimates By $0.04 EPS

Elemental Royalty (NASDAQ:ELE) announced its earnings results on Tuesday. The company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.04), Zacks reports. Elemental Royalty had a net margin of 4.01% and a return on equity of 0.53%.

Elemental Royalty Price Performance

ELE stock opened at $16.09 on Wednesday. The stock’s fifty day simple moving average is $18.27 and its two-hundred day simple moving average is $18.61. Elemental Royalty has a 1-year low of $12.58 and a 1-year high of $26.96.

Elemental Royalty Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Wednesday, September 30th were issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Wednesday, September 30th. Elemental Royalty’s dividend payout ratio (DPR) is 150.00%.

Wall Street Analysts Forecast Growth

ELE has been the topic of several recent analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Elemental Royalty in a research note on Tuesday. HC Wainwright reduced their target price on shares of Elemental Royalty from $33.00 to $31.00 and set a “buy” rating for the company in a research note on Tuesday, September 22nd. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $31.00.

Elemental Royalty Company Profile

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.