Elemental Royalty (NASDAQ:ELE) Issues Quarterly Earnings Results

Elemental Royalty (NASDAQ:ELE) announced its quarterly earnings data 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 return on equity of 0.53% and a net margin of 4.01%.

Elemental Royalty Stock Performance

NASDAQ ELE traded down $0.73 on Tuesday, reaching $16.09. 367,819 shares of the stock traded hands, compared to its average volume of 358,860. The company has a fifty day moving average price of $18.38 and a 200-day moving average price of $18.62. The company has a market cap of $1.23 billion and a price-to-earnings ratio of 201.12. Elemental Royalty has a 12 month low of $12.58 and a 12 month high of $26.96.

Elemental Royalty Announces Dividend

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

Wall Street Analyst Weigh In

ELE has been the topic of a number of analyst reports. HC Wainwright cut their target price on Elemental Royalty from $33.00 to $31.00 and set a “buy” rating on the stock in a research note on Tuesday, September 22nd. Weiss Ratings raised Elemental Royalty from a “sell (d+)” rating to a “hold (c)” rating in a research note on Wednesday, August 12th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $31.00.

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.