Montrusco Bolton Investments Inc. Purchases 447,613 Shares of Elemental Royalty Corp $ELE

Montrusco Bolton Investments Inc. acquired a new stake in shares of Elemental Royalty Corp (NASDAQ:ELE) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 447,613 shares of the company’s stock, valued at approximately $8,610,000.

A number of other hedge funds have also bought and sold shares of ELE. Bartlett & CO. Wealth Management LLC purchased a new stake in shares of Elemental Royalty in the first quarter valued at $32,000. Kestra Advisory Services LLC boosted its stake in shares of Elemental Royalty by 53.7% during the 1st quarter. Kestra Advisory Services LLC now owns 12,025 shares of the company’s stock worth $227,000 after purchasing an additional 4,202 shares during the period. Regal Partners Ltd purchased a new position in shares of Elemental Royalty during the 1st quarter worth about $203,000. Y Intercept Hong Kong Ltd purchased a new position in shares of Elemental Royalty during the 1st quarter worth about $234,000. Finally, Squarepoint Ops LLC bought a new position in Elemental Royalty during the 2nd quarter valued at about $258,000.

Wall Street Analyst Weigh In

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

Elemental Royalty Stock Performance

ELE stock traded down $0.53 during midday trading on Tuesday, reaching $16.97. The company’s stock had a trading volume of 316,093 shares, compared to its average volume of 356,654. The stock has a fifty day simple moving average of $20.29 and a two-hundred day simple moving average of $18.23. Elemental Royalty Corp has a 1 year low of $12.58 and a 1 year high of $26.96. The firm has a market capitalization of $1.23 billion and a price-to-earnings ratio of 212.12.

Elemental Royalty (NASDAQ:ELE) last released its earnings results on Tuesday, August 11th. The company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.07). The business 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%. As a group, analysts forecast that Elemental Royalty Corp will post 0.25 EPS for the current fiscal year.

Elemental Royalty Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be paid a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Wednesday, September 30th. Elemental Royalty’s dividend payout ratio (DPR) is currently 150.00%.

About Elemental Royalty

Elemental Royalty Corp. is a precious-metals royalty and streaming company focused primarily on gold, with additional exposure to silver, copper and other commodities. Rather than operating mines directly, the company provides capital or other funding to mining operators in exchange for the right to receive a portion of future production or revenue from qualifying mineral properties.

The company has built a diversified portfolio of royalties and streams spanning multiple mining jurisdictions, including North and South America, Australia and Africa.