U S Global Investors Inc. Purchases 470,694 Shares of Elemental Royalty Corp $ELE

Key Points

• U.S. Global Investors acquired 470,694 shares of Elemental Royalty, valued at approximately $9.03 million, representing about 0.65% of the company and 0.9% of its portfolio.
• Other institutional investors also increased or initiated positions, including Euro Pacific Asset Management, Amundi, Montrusco Bolton Investments, Arbiter Partners, and Louisbourg Investments.
• Analysts assign Elemental Royalty an average “Hold” rating with a $31 price target, while the stock recently traded at $15.99; the company also reported quarterly EPS of $0.06, below the $0.13 consensus estimate.

U S Global Investors Inc. purchased a new stake in shares of Elemental Royalty Corp (NASDAQ:ELE - Free Report) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 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 largest holding. U S Global Investors Inc. owned approximately 0.65% of Elemental Royalty at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of ELE. Euro Pacific Asset Management LLC lifted its holdings in Elemental Royalty by 5.0% in the third quarter. Euro Pacific Asset Management LLC now owns 1,152,194 shares of the company's stock worth $22,007,000 after purchasing an additional 55,218 shares during the period. Amundi bought a new position in Elemental Royalty in the 1st quarter valued at about $12,813,000. Montrusco Bolton Investments Inc. acquired a new position in Elemental Royalty during the 3rd quarter valued at about $8,610,000. Arbiter Partners Capital Management LLC increased its stake in Elemental Royalty by 522.6% during the 1st quarter. Arbiter Partners Capital Management LLC now owns 168,317 shares of the company's stock valued at $3,171,000 after buying an additional 141,284 shares during the period. Finally, Louisbourg Investments Inc. acquired a new position in Elemental Royalty during the 1st quarter valued at about $2,205,000.

Wall Street Analysts Forecast Growth

A number of analysts have commented on ELE shares. HC Wainwright dropped their price target on shares of Elemental Royalty from $33.00 to $31.00 and set a "buy" rating on the stock in a research report on Tuesday, September 22nd. Weiss Ratings raised Elemental Royalty from a "sell (d+)" rating to a "hold (c)" rating in a report on Wednesday, August 12th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Elemental Royalty has an average rating of "Hold" and an average target price of $31.00.

Elemental Royalty Stock Performance

Shares of NASDAQ:ELE opened at $15.99 on Friday. The company has a market cap of $1.16 billion and a PE ratio of 199.88. The firm has a 50 day simple moving average of $19.91 and a 200 day simple moving average of $18.14. Elemental Royalty Corp has a 52 week low of $12.58 and a 52 week high of $26.96.

Elemental Royalty (NASDAQ:ELE - Get Free Report) last posted its quarterly earnings results on Tuesday, August 11th. The company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.07). The company 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%. On average, equities analysts predict that Elemental Royalty Corp will post 0.25 earnings per share for the current year.

Elemental Royalty Announces Dividend

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

About Elemental Royalty

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.

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