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

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

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

Elemental Royalty Stock Performance

Shares of ELE opened at $14.08 on Thursday. The company has a 50 day moving average price of $18.15 and a 200-day moving average price of $18.59. Elemental Royalty has a fifty-two week low of $12.58 and a fifty-two week high of $26.96. The stock has a market capitalization of $1.08 billion and a PE ratio of 176.00.

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

Institutional Trading of Elemental Royalty

A number of institutional investors have recently modified their holdings of the company. Euro Pacific Asset Management LLC grew its position in shares of Elemental Royalty by 4.6% in the 3rd quarter. Euro Pacific Asset Management LLC now owns 1,147,776 shares of the company’s stock worth $23,538,000 after buying an additional 50,800 shares during the last quarter. Kestra Advisory Services LLC purchased a new stake in Elemental Royalty during the third quarter valued at approximately $203,000. Accordant Advisory Group Inc boosted its stake in Elemental Royalty by 6.9% in the third quarter. Accordant Advisory Group Inc now owns 97,940 shares of the company’s stock valued at $1,871,000 after acquiring an additional 6,324 shares in the last quarter. U S Global Investors Inc. acquired a new stake in Elemental Royalty in the third quarter valued at approximately $9,030,000. Finally, TD Waterhouse Canada Inc. grew its holdings in Elemental Royalty by 56.3% in 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 last quarter.

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.