Elemental Altus Welcomes Tether Investments as Major Shareholder

Elemental Royalties ( (TSE:ELE) ) just unveiled an announcement.

Elemental Altus Royalties Corp. has announced Tether Investments as its new cornerstone shareholder after Tether acquired a significant stake from La Mancha Investments. This acquisition positions Tether as a major shareholder, holding approximately 33.7% of Elemental Altus’s common shares, with the potential to increase its stake to 47.7% through an option agreement with AlphaStream Limited. The move is seen as a strategic alignment for both companies, with Tether’s investment reflecting its commitment to real-world assets that offer stability and long-term value, while Elemental Altus benefits from Tether’s support in its growth phase, enhancing its position in the gold royalty sector.

The most recent analyst rating on (TSE:ELE) stock is a Buy with a C$2.00 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 Outperform.

Elemental Royalties benefits from strong financial and technical performance, with notable growth in revenue and strategic expansions, though profitability challenges and valuation concerns persist. The positive earnings call and corporate events bolster future prospects, contributing to a robust overall 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 with a focus on generating income through a diversified portfolio of producing and pre-production assets. The company aims to acquire uncapped royalties and streams over mines operated by established counterparties, with a vision to build a global gold royalty company offering superior exposure to gold with reduced risk and strong growth potential.

Average Trading Volume: 96,248

Technical Sentiment Signal: Hold

Current Market Cap: C$383.4M

For a thorough assessment of ELE stock, go to TipRanks’ Stock Analysis page.