Canton Hathaway LLC Purchases 46,165 Shares of Dorchester Minerals, L.P. (NASDAQ:DMLP)

Canton Hathaway LLC boosted its stake in Dorchester Minerals, L.P. (NASDAQ:DMLP - Free Report) by 249.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 64,640 shares of the energy company's stock after purchasing an additional 46,165 shares during the period. Dorchester Minerals comprises about 0.4% of Canton Hathaway LLC's holdings, making the stock its 29th largest holding. Canton Hathaway LLC owned about 0.14% of Dorchester Minerals worth $1,944,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Dorchester Minerals during the 4th quarter worth about $3,829,000. Invesco Ltd. bought a new stake in shares of Dorchester Minerals in the 4th quarter valued at $1,524,000. Cresset Asset Management LLC acquired a new position in shares of Dorchester Minerals during the fourth quarter valued at about $1,432,000. Inscription Capital LLC bought a new position in Dorchester Minerals in the first quarter worth approximately $1,218,000. Finally, Jane Street Group LLC bought a new stake in shares of Dorchester Minerals during the fourth quarter valued at approximately $871,000. Institutional investors and hedge funds own 19.21% of the company's stock.

Dorchester Minerals Trading Down 0.1%

NASDAQ DMLP traded down $0.04 during trading hours on Tuesday, hitting $27.05. The company's stock had a trading volume of 156,574 shares, compared to its average volume of 102,668. The company has a market capitalization of $1.28 billion, a PE ratio of 13.26 and a beta of 0.60. Dorchester Minerals, L.P. has a 52 week low of $25.84 and a 52 week high of $34.88. The company's 50-day simple moving average is $28.16 and its two-hundred day simple moving average is $30.22.

Dorchester Minerals (NASDAQ:DMLP - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The energy company reported $0.36 EPS for the quarter. Dorchester Minerals had a return on equity of 28.67% and a net margin of 52.49%.

Dorchester Minerals Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 5th were given a dividend of $0.7258 per share. This represents a $2.90 dividend on an annualized basis and a dividend yield of 10.73%. The ex-dividend date of this dividend was Monday, May 5th. Dorchester Minerals's payout ratio is currently 142.16%.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded Dorchester Minerals from a "hold" rating to a "buy" rating in a report on Tuesday, May 13th.

Insider Buying and Selling

In other Dorchester Minerals news, insider Minerals Operating Dorchester acquired 10,000 shares of Dorchester Minerals stock in a transaction on Wednesday, April 30th. The stock was purchased at an average price of $28.76 per share, for a total transaction of $287,600.00. Following the purchase, the insider now directly owns 58,017 shares of the company's stock, valued at $1,668,568.92. This trade represents a 20.83% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 5.90% of the stock is owned by corporate insiders.

Dorchester Minerals Profile

Dorchester Minerals, L.P. engages in the acquisition, ownership, and administration of royalty properties in the United States. Its royalty properties include producing and nonproducing mineral, royalty, overriding royalty, net profits, and leasehold interests in 593 counties and parishes in 28 states; and net profits interests represent net profits overriding royalty interests in various properties owned by the operating partnership.