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

Elemental Royalty Corp (NASDAQ:ELE) was the recipient of a large increase in short interest in 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 days-to-cover ratio is presently 3.2 days. Currently, 4.2% of the shares of the stock are short sold.

Analysts Set New Price Targets

ELE has been the subject of a number of recent analyst reports. HC Wainwright assumed coverage on shares of Elemental Royalty in a report on Monday, March 16th. They set a “buy” rating and a $32.50 price target for the company. Zacks Research raised shares of Elemental Royalty to a “hold” rating in a research note on Thursday, April 9th. Finally, Weiss Ratings downgraded shares of Elemental Royalty from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, June 2nd. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $32.50.

Institutional Investors Weigh In On Elemental Royalty

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Bartlett & CO. Wealth Management LLC bought a new position in shares of Elemental Royalty during the first quarter worth about $32,000. Investment Counsel Co. of Nevada bought a new position in Elemental Royalty during the 4th quarter worth approximately $90,000. Caitlin John LLC bought a new position in Elemental Royalty during the 4th quarter worth approximately $97,000. Kestra Advisory Services LLC bought a new stake in shares of Elemental Royalty in the 4th quarter valued at $133,000. Finally, Papamarkou Wellner Asset Management inc. acquired a new stake in shares of Elemental Royalty during the fourth quarter worth $182,000.

Elemental Royalty Price Performance

ELE stock opened at $16.01 on Monday. The company’s fifty day simple moving average is $16.80. The company has a market capitalization of $1.03 billion and a P/E ratio of 800.50. Elemental Royalty has a 52-week low of $12.58 and a 52-week high of $26.96.

Elemental Royalty (NASDAQ:ELE) last issued its quarterly earnings data on Wednesday, May 13th. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.10). The company had revenue of $24.32 million for the quarter.

Elemental Royalty Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be issued a dividend of $0.03 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $0.12 annualized dividend and a yield of 0.7%. Elemental Royalty’s payout ratio is presently 600.00%.

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.