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An announcement from Elemental Royalties ( (TSE:ELE) ) is now available.
Elemental Altus Royalties Corp. announced that its shareholders have overwhelmingly approved key resolutions at a special meeting, including the approval of Tether Investments as a control person, a significant private placement financing, and a company name change to Elemental Royalty Corp. These resolutions are part of a strategic merger with EMX Royalty Corporation, which aims to create a mid-tier gold-focused streaming and royalty company. The merger will result in a diversified portfolio of 16 producing assets and over 200 royalties globally, combining Elemental Altus’s focus on royalty acquisition with EMX’s strengths in royalty generation, providing immediate cash flow and long-term value creation.
The most recent analyst rating on (TSE:ELE) stock is a Hold with a C$23.50 price target. To see the full list of analyst forecasts on Elemental Royalties stock, see the TSE:ELE Stock Forecast page.
Spark’s Take on TSE:ELE Stock
According to Spark, TipRanks’ AI Analyst, TSE:ELE is a Neutral.
Elemental Royalties’ strong earnings call performance and financial stability are offset by ongoing profitability challenges and high valuation concerns. The technical indicators suggest a bearish trend, but the company’s liquidity and growth potential provide a positive outlook.
To see Spark’s full report on TSE:ELE stock, click here.
More about Elemental Royalties
Elemental Altus Royalties Corp. is a precious metals royalty company focusing on acquiring uncapped royalties and streams over producing or near-producing mines operated by established counterparties. The company aims to build a global gold royalty company, offering investors superior exposure to gold with reduced risk and a strong growth profile.
Average Trading Volume: 25,620
Technical Sentiment Signal: Buy
Current Market Cap: C$513.7M
See more insights into ELE stock on TipRanks’ Stock Analysis page.