HC Wainwright Lowers Elemental Royalty (NASDAQ:ELE) Price Target to $31.00

Key Points

• HC Wainwright lowered Elemental Royalty’s price target to $31 from $33 while maintaining a “Buy” rating, implying approximately 44.85% upside from the prior close.
• Analyst sentiment is mixed: Weiss Ratings upgraded the stock to “Hold,” while the broader consensus is also “Hold,” with a $31 average price target.
• Elemental Royalty reported quarterly EPS of $0.06, missing the $0.13 consensus estimate, on revenue of $23.79 million; shares recently traded at $21.40.

Elemental Royalty (NASDAQ:ELE - Get Free Report) had its price target cut by stock analysts at HC Wainwright from $33.00 to $31.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage presently has a "buy" rating on the stock. HC Wainwright's target price indicates a potential upside of 44.85% from the company's previous close.

Separately, Weiss Ratings raised shares of 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 given a Hold rating to the stock. According to MarketBeat.com, Elemental Royalty presently has an average rating of "Hold" and a consensus price target of $31.00.

Elemental Royalty Price Performance

NASDAQ ELE traded down $0.32 on Tuesday, reaching $21.40. 266,855 shares of the company's stock traded hands, compared to its average volume of 355,036. The stock has a market cap of $1.38 billion and a PE ratio of 267.88. Elemental Royalty has a 12 month low of $12.58 and a 12 month high of $26.96. The stock has a 50-day simple moving average of $19.25 and a 200 day simple moving average of $18.48.

Elemental Royalty (NASDAQ:ELE - Get Free Report) last announced its quarterly earnings data on Tuesday, August 11th. The company reported $0.06 earnings per share for the quarter, missing analysts' consensus estimates of $0.13 by ($0.07). Elemental Royalty had a return on equity of 0.53% and a net margin of 4.01%.The business had revenue of $23.79 million during the quarter. As a group, analysts anticipate that Elemental Royalty will post 0.23 EPS for the current year.

Institutional Investors Weigh In On Elemental Royalty

Institutional investors and hedge funds have recently bought and sold shares of the business. Amundi purchased a new position in shares of Elemental Royalty during the first quarter valued at about $12,813,000. K2 Principal Fund L.P. purchased a new stake in Elemental Royalty in the fourth quarter worth about $3,010,000. Arbiter Partners Capital Management LLC lifted its holdings in Elemental Royalty by 522.6% in the first quarter. Arbiter Partners Capital Management LLC now owns 168,317 shares of the company's stock worth $3,171,000 after buying an additional 141,284 shares during the period. Louisbourg Investments Inc. bought a new stake in Elemental Royalty during the 1st quarter valued at approximately $2,205,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of Elemental Royalty during the 2nd quarter worth approximately $1,456,000.

Elemental Royalty Company Profile

Elemental Royalty is a precious-metals royalty company that acquires and manages royalty, stream and other interests in mining projects. Rather than operating mines directly, the company provides capital or acquires existing interests in exchange for the right to receive a portion of future production or revenue, generally with limited exposure to the mine's operating and capital costs.

The company's portfolio is focused primarily on gold, with additional exposure to silver, copper and other metals through a range of producing, development-stage and exploration assets.

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