Elemental Altus Royalties (CVE:ELE) Hits New 12-Month High – Time to Buy?

Elemental Altus Royalties Corp. (CVE:ELE) shares reached a new 52-week high on Monday . The stock traded as high as C$26.57 and last traded at C$25.95, with a volume of 30808 shares changing hands. The stock had previously closed at C$25.26.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Raymond James Financial increased their target price on Elemental Altus Royalties from C$27.50 to C$29.00 in a research report on Friday, October 10th. Canaccord Genuity Group reduced their price target on Elemental Altus Royalties from C$38.00 to C$33.00 in a research report on Monday, December 1st. Finally, National Bankshares boosted their target price on Elemental Altus Royalties from C$27.50 to C$30.00 and gave the company an “outperform” rating in a research note on Tuesday, December 9th. One investment analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the stock. Based on data from MarketBeat, Elemental Altus Royalties has an average rating of “Strong Buy” and a consensus target price of C$30.67.

Elemental Altus Royalties Stock Performance

The business’s 50-day moving average price is C$21.21 and its 200-day moving average price is C$13.87. The stock has a market cap of C$1.70 billion, a P/E ratio of 133.15 and a beta of 0.40.

Elemental Altus Royalties Company Profile

Endesa, SA engages in the generation, distribution, and sale of electricity primarily in Spain and Portugal. The company generates electricity from various energy sources, such as hydroelectric, nuclear, thermal, wind, and solar. As of December 31, 2020, its distributed electricity to approximately 21 million populations covering a total area of approximately 195,488 square kilometers. The company distribution and transmission networks comprise 315,365 kilometers. It also sells energy, as well as provides energy related commercial services.