Short Interest in Elemental Royalty Corp (NASDAQ:ELE) Grows By 251.4%

Key Points

• Short interest in Elemental Royalty Corp surged 251.4% in June, rising to 2,733,322 shares as of June 30. That equals about 4.2% of the float and a short-interest ratio of 3.2 days.
• The stock opened at $16.01, below its 50-day moving average of $16.80, and remains far under its 1-year high of $26.96. The company has a market cap of about $1.03 billion.
• Elemental Royalty recently reported Q1 earnings of $0.02 per share, missing analyst expectations of $0.12, while revenue came in at $24.32 million. The company also declared a quarterly dividend of $0.03 per share, or $0.12 annualized, for a 0.7% yield.

Elemental Royalty Corp (NASDAQ:ELE - Get Free Report) saw a large increase in short interest during 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. Based on an average daily trading volume, of 864,939 shares, the short-interest ratio is currently 3.2 days. Currently, 4.2% of the company's stock are short sold.

Elemental Royalty Price Performance

ELE opened at $16.01 on Monday. Elemental Royalty has a 1 year low of $12.58 and a 1 year high of $26.96. The company has a market cap of $1.03 billion and a P/E ratio of 800.50. The firm has a fifty day moving average price of $16.80.

Elemental Royalty (NASDAQ:ELE - Get Free Report) last announced its earnings results on Wednesday, May 13th. The company reported $0.02 earnings per share (EPS) 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 Announces Dividend

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 of this dividend is Tuesday, June 30th. This represents a $0.12 dividend on an annualized basis and a yield of 0.7%. Elemental Royalty's payout ratio is currently 600.00%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Zacks Research upgraded Elemental Royalty to a "hold" rating in a report on Thursday, April 9th. HC Wainwright initiated coverage on Elemental Royalty in a research report on Monday, March 16th. They set a "buy" rating and a $32.50 price target on the stock. Finally, Weiss Ratings lowered Elemental Royalty from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Tuesday, June 2nd. One investment 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's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $32.50.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Louisbourg Investments Inc. bought a new position in Elemental Royalty during the 1st quarter worth $2,205,000. K2 Principal Fund L.P. bought a new stake in shares of Elemental Royalty during the 4th quarter valued at $3,010,000. Alpine Global Management LLC acquired a new stake in shares of Elemental Royalty during the 4th quarter worth $1,181,000. Investment Counsel Co. of Nevada acquired a new stake in shares of Elemental Royalty during the 4th quarter worth $90,000. Finally, Regal Partners Ltd bought a new position in shares of Elemental Royalty in the first quarter worth $203,000.

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.

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