10:47 AM EDT, 05/20/2025 (MT Newswires) -- Elemental Altus Royalties ( ELEMF ) was at last look up more than 2% and nearer to 52 week highs on Tuesday as it swung to a first-quarter profit as its total revenue more than tripled.

For the quarter, the company reported total net profit of US$3.448 million versus a loss of about US$1 million in the same year-ago quarter.

Total revenue more than tripled to US$11.64 million compared to US$3.3 million reported in the same quarter last year, reflecting the "growing scale and profitability" of the company's portfolio. This includes maiden revenue of US$6.6 million from its Korali-Sud royalty, "which is proving to be a significant contributor in 2025 and will continue to offer long-term uncapped exploration upside from a world-class geological district".

Among other financial highlights, the company reported first quarter total attributable gold equivalent ounces (GEOs) of 4,606 ounces, up around 102% from 2,283 ounces in Q1 2024.

The company also posted a first quarter adjusted EBITDA of around US$11.5 million compared to about US$3.2 million in Q1 2024.

On outlook, the company said it remains "on track" to achieve guidance of 11,600 to 13,200 GEOs, translating to "record" adjusted revenue of US$30.1 million to US$34.3 million, based on a gold price of US$2,600/oz and a copper price of US$4.00/lb. Production is anticipated to be weighted towards the first half of the year, driven by first gold sales from the Korali-Sud royalty.

This guidance, it added, represents a 38% increase in GEOs and 50% year-on-year increase in adjusted revenue at the mid-point of guidance, with full exposure to higher gold prices.

Price: 1.44, Change: +0.03, Percent Change: +2.13