U S Global Investors Inc. Makes New Investment in Elemental Royalty Corp $ELE

U S Global Investors Inc. acquired a new position in shares of Elemental Royalty Corp (NASDAQ:ELE) during the 3rd quarter, Holdings Channel.com reports. The fund acquired 470,694 shares of the company’s stock, valued at approximately $9,030,000. Elemental Royalty accounts for approximately 0.9% of U S Global Investors Inc.’s investment portfolio, making the stock its 26th biggest position.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. TD Waterhouse Canada Inc. raised its stake in shares of Elemental Royalty by 56.3% in the third quarter. TD Waterhouse Canada Inc. now owns 2,146 shares of the company’s stock valued at $39,000 after acquiring an additional 773 shares during the last quarter. State of Alaska Department of Revenue bought a new stake in Elemental Royalty during the 3rd quarter worth approximately $52,000. Euro Pacific Asset Management LLC grew its position in Elemental Royalty by 5.0% during the 3rd quarter. Euro Pacific Asset Management LLC now owns 1,152,194 shares of the company’s stock worth $22,007,000 after acquiring an additional 55,218 shares during the last quarter. Montrusco Bolton Investments Inc. bought a new stake in Elemental Royalty during the 3rd quarter worth approximately $8,610,000. Finally, Squarepoint Ops LLC acquired a new stake in shares of Elemental Royalty in the second quarter valued at $258,000.

Analyst Ratings Changes

ELE has been the subject of several research analyst reports. 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 cut their price objective 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 company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $31.00.

Elemental Royalty Stock Down 4.5%

Shares of ELE stock opened at $15.99 on Friday. Elemental Royalty Corp has a 12-month low of $12.58 and a 12-month high of $26.96. The firm has a fifty day moving average of $19.91 and a 200-day moving average of $18.14. The firm has a market capitalization of $1.16 billion and a price-to-earnings ratio of 199.88.

Elemental Royalty (NASDAQ:ELE) last released its quarterly earnings results on Tuesday, August 11th. The company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.07). The business had revenue of $23.79 million for the quarter. Elemental Royalty had a return on equity of 0.53% and a net margin of 4.01%. Research analysts expect that Elemental Royalty Corp will post 0.25 earnings per share for the current year.

Elemental Royalty Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th were issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Wednesday, September 30th. Elemental Royalty’s payout ratio is 150.00%.

Elemental Royalty Company Profile

Elemental Royalty is a precious-metals royalty company that provides capital to mining companies in exchange for the right to receive a portion of future revenue or metal production from mining projects. Its business model allows it to participate in mine economics without directly operating mines or bearing the full costs of exploration, construction and production.

The company’s portfolio is focused primarily on gold and other precious metals, with royalty interests spanning projects in regions including North America, South America, Africa and Australia.