EMX Royalty Corp. (NYSEAMERICAN:EMX) Sees Significant Drop in Short Interest

Key Points

• Short interest in EMX Royalty Corp. declined by 43.8% in August, totaling 78,000 shares, which indicates a decrease from 138,800 shares on August 15th.
• Institutional investors increased their holdings in EMX, with significant increases from firms like Bank of America Corp, which raised its position by 2,565.0%.
• Brokerages have expressed a positive outlook on EMX, with Zacks Research upgrading the stock to a "strong-buy" rating and a consensus target price of $5.75.

EMX Royalty Corp. (NYSEAMERICAN:EMX - Get Free Report) was the recipient of a significant decline in short interest in August. As of August 31st, there was short interest totaling 78,000 shares, a decline of 43.8% from the August 15th total of 138,800 shares. Based on an average daily volume of 553,500 shares, the days-to-cover ratio is presently 0.1 days. Currently, 0.1% of the company's stock are sold short. Currently, 0.1% of the company's stock are sold short. Based on an average daily volume of 553,500 shares, the days-to-cover ratio is presently 0.1 days.

Analyst Ratings Changes

EMX has been the topic of a number of analyst reports. National Bankshares reissued an "outperform" rating on shares of EMX Royalty in a report on Wednesday, August 13th. HC Wainwright restated a "buy" rating and set a $5.75 price target on shares of EMX Royalty in a report on Monday, September 8th. Finally, Zacks Research upgraded EMX Royalty to a "strong-buy" rating in a research note on Monday, August 11th. One investment analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $5.75.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of EMX. Jane Street Group LLC bought a new position in EMX Royalty during the 1st quarter valued at about $30,000. Cubist Systematic Strategies LLC grew its holdings in EMX Royalty by 97.0% during the 1st quarter. Cubist Systematic Strategies LLC now owns 23,116 shares of the company's stock valued at $47,000 after buying an additional 11,383 shares in the last quarter. Russell Investments Group Ltd. bought a new stake in shares of EMX Royalty during the first quarter valued at approximately $58,000. Goldman Sachs Group Inc. boosted its position in shares of EMX Royalty by 78.5% during the first quarter. Goldman Sachs Group Inc. now owns 42,640 shares of the company's stock worth $87,000 after acquiring an additional 18,753 shares during the last quarter. Finally, XTX Topco Ltd bought a new stake in EMX Royalty in the 1st quarter valued at $89,000. 21.54% of the stock is owned by institutional investors.

EMX Royalty Stock Up 1.3%

Shares of EMX traded up $0.06 during mid-day trading on Friday, reaching $4.30. The company had a trading volume of 388,097 shares, compared to its average volume of 480,392. EMX Royalty has a 52 week low of $1.65 and a 52 week high of $4.44. The company has a debt-to-equity ratio of 0.21, a quick ratio of 7.86 and a current ratio of 7.86. The company has a market capitalization of $467.81 million, a price-to-earnings ratio of 71.60 and a beta of 0.30. The firm has a 50-day moving average price of $3.38 and a 200 day moving average price of $2.60.

About EMX Royalty

EMX Royalty Corporation, together with its subsidiaries, explores for and generates royalties from metals and minerals properties. It explores gold, silver, platinum, palladium, copper, lead, zinc, manganese, nickel, cobalt, molybdenum, and iron deposits, as well as battery, precious, and base metals.