Elemental Royalty Corp (NASDAQ:ELE) Short Interest Up 251.4% in June

Elemental Royalty Corp (NASDAQ:ELE) saw a large increase in short interest in the month of June. As of June 30th, there was short interest totaling 2,733,322 shares, an increase of 251.4% from the June 15th total of 777,906 shares. Currently, 4.2% of the company’s shares are sold short. Based on an average daily volume of 864,939 shares, the days-to-cover ratio is presently 3.2 days.

Hedge Funds Weigh In On Elemental Royalty

Several hedge funds have recently made changes to their positions in ELE. Sprott Inc. purchased a new stake in Elemental Royalty in the fourth quarter worth $31,830,000. Medici Capital LLC purchased a new position in Elemental Royalty during the 4th quarter valued at $14,890,000. Condire Management LP bought a new position in Elemental Royalty in the 4th quarter worth $11,646,000. Amundi purchased a new stake in shares of Elemental Royalty in the 1st quarter worth about $12,813,000. Finally, Marshall Wace LLP purchased a new stake in shares of Elemental Royalty in the 4th quarter worth about $5,243,000.

Elemental Royalty Trading Up 4.3%

Elemental Royalty stock traded up $0.67 during trading hours on Tuesday, reaching $16.02. The stock had a trading volume of 129,073 shares, compared to its average volume of 362,283. The company’s fifty day simple moving average is $16.77. Elemental Royalty has a 52 week low of $12.58 and a 52 week high of $26.96. The stock has a market cap of $1.03 billion and a PE ratio of 800.95.

Elemental Royalty (NASDAQ:ELE) last posted its earnings results on Wednesday, May 13th. The company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.10). The firm had revenue of $24.32 million for the quarter.

Elemental Royalty Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be issued a $0.03 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $0.12 annualized dividend and a yield of 0.7%. Elemental Royalty’s dividend payout ratio (DPR) is 600.00%.

Analysts Set New Price Targets

Several research firms have weighed in on ELE. Weiss Ratings downgraded shares of Elemental Royalty from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, June 2nd. HC Wainwright began coverage on Elemental Royalty in a research note on Monday, March 16th. They set a “buy” rating and a $32.50 price objective on the stock. Finally, Zacks Research raised Elemental Royalty to a “hold” rating in a research note on Thursday, April 9th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Elemental Royalty has a consensus rating of “Hold” and an average target price of $32.50.

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.