Montrusco Bolton Investments Inc. Makes New Investment in Elemental Royalty Corp $ELE

Montrusco Bolton Investments Inc. purchased a new stake in shares of Elemental Royalty Corp (NASDAQ:ELE) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 447,613 shares of the company’s stock, valued at approximately $8,610,000. Montrusco Bolton Investments Inc. owned 0.62% of Elemental Royalty as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Bartlett & CO. Wealth Management LLC purchased a new position in shares of Elemental Royalty in the first quarter valued at about $32,000. Regal Partners Ltd purchased a new position in Elemental Royalty in the 1st quarter worth approximately $203,000. Kestra Advisory Services LLC boosted its stake in Elemental Royalty by 53.7% in the 1st quarter. Kestra Advisory Services LLC now owns 12,025 shares of the company’s stock worth $227,000 after purchasing an additional 4,202 shares during the period. Y Intercept Hong Kong Ltd bought a new position in Elemental Royalty in the 1st quarter worth approximately $234,000. Finally, Squarepoint Ops LLC purchased a new stake in Elemental Royalty during the 2nd quarter valued at approximately $258,000.

Elemental Royalty Stock Down 3.0%

NASDAQ ELE traded down $0.53 during trading on Tuesday, hitting $16.97. 316,093 shares of the stock traded hands, compared to its average volume of 356,654. The company has a market capitalization of $1.23 billion and a P/E ratio of 212.12. The firm has a 50-day simple moving average of $20.29 and a 200-day simple moving average of $18.23. Elemental Royalty Corp has a 12-month low of $12.58 and a 12-month high of $26.96.

Elemental Royalty (NASDAQ:ELE) last issued its quarterly earnings data on Tuesday, August 11th. The company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.07). Elemental Royalty had a return on equity of 0.53% and a net margin of 4.01%. The firm had revenue of $23.79 million for the quarter. As a group, research analysts predict that Elemental Royalty Corp will post 0.25 EPS for the current fiscal year.

Elemental Royalty Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Wednesday, September 30th. Elemental Royalty’s dividend payout ratio is currently 150.00%.

Analysts Set New Price Targets

Several research firms have recently issued reports on ELE. Weiss Ratings upgraded shares of Elemental Royalty from a “sell (d+)” rating to a “hold (c)” rating in a research report on Wednesday, August 12th. HC Wainwright reduced their price target on shares of Elemental Royalty from $33.00 to $31.00 and set a “buy” rating on the stock in a report on Tuesday, September 22nd. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $31.00.

About Elemental Royalty

Elemental Royalty Corp. is a precious-metals royalty and streaming company focused primarily on gold, with additional exposure to silver, copper and other commodities. Rather than operating mines directly, the company provides capital or other funding to mining operators in exchange for the right to receive a portion of future production or revenue from qualifying mineral properties.

The company has built a diversified portfolio of royalties and streams spanning multiple mining jurisdictions, including North and South America, Australia and Africa.